Bookies in the teeming port city of 14 million people expect to handle billions of rupees during the first full series between the arch-rivals to be held in Pakistan for more than 14 years.

Hotels are full to the rafters, and have upped their rates by as much as fivefold as they accommodate fans and international media focusing on a tour that officials in both countries hope will help cement a fledgling peace process in South Asia.

While cricket is the buzz word for most people ahead of the first of five one-day internationals on Saturday, cash is the priority for some.

"There is a lot of demand," said a 17-year-old student, selling tickets illegally as armed paramilitary Rangers looked on. "Today we are selling a 100 rupee ($2) ticket for 650 rupees. Tomorrow morning it will go for 2,000."

He said he and others like him managed to beat the queues when the tickets went on sale on Monday by bribing police. The day before, police and fans desperate to book a place at the historic match fought pitch battles and sales were suspended.

Not that the rewards are without their risks. The students said four of their peers had been arrested on Thursday for selling tickets illegally on the black market.

BOOKIES' BONANZA

Bookies are also preparing for a bumper spring.

"We are seeing interest from all over the world," said one of an estimated 40 underworld Karachi bookmakers, who identified himself as "Afghani".

He expects to handle up to $1 million during the first one-day game, in which Pakistan is slight favourite, although the odds can change with every ball bowled and run scored.

Another Karachi bookie, who asked not to be named, said odds on the matches were initially set in South Africa and India before being communicated to local outfits in Pakistan.

The huge gambling business surrounding