Balipadyami or Bali Pratipada is the day on which 'Bali' is worshiped. Following Deepavali, there is a story behind celebrating this festival. When Vishnu was born as vamana (the dwarf), he crushed Bali into the under world. Then Prahlada, the grandfather of Bali pleaded Vishnu to pardon Bali. Then Bali was made the king of the under world. On Bali's request, Vishnu granted a boon that people on earth would remember him and would worship him. That is the reason for Balipadyami. On that day also people burst crackers and celebrate in the name of Bali.
There is also a story to tell that on Balipadyami 'Gambling' (Judam) should be played. Once on this padyami day, Shiva and Parvathi played the dice game. Shiva lost to Parvathi. Kumaraswami then played dice with Parvathi and won. Then Lord Ganesh played with Lord Kumaraswami and won. Since then, it has been customary for the family to be involved in gambling on this day. Farmers celebrate this day in a different way. They perform puja to cow, and is known as Gouramma puja. This ritual is being followed still in Tamilnadu.