Matka gambling
Matka gambling or satta is a form of betting and lottery. It originally involved betting on the opening and closing rates of cotton transmitted from the New York Cotton Exchange to the Bombay Cotton Exchange. In the 1960s, the system was replaced with other ways of generating random numbers, including pulling slips from a large earthenware pot.
About Matka gambling in brief
Matka gambling or satta is a form of betting and lottery which originally involved betting on the opening and closing rates of cotton transmitted from the New York Cotton Exchange to the Bombay Cotton Exchange. In the 1960s, the system was replaced with other ways of generating random numbers, including pulling slips from a large earthenware pot known as a matka. The modern matka business is centered around Maharashtra. Matka gambling is illegal in India. The Mumbai Police’s massive crackdown on the matka dens forced dealers to shift their base to the city’s outskirts. Many of them moved to Gujarat, Rajasthan and other states.
With no major source of betting in the city, the punters got attracted to other sources of gambling such as online and zhatpat lotteries. Meanwhile, the rich punters began to explore betting on cricket matches. Betting volumes in excess of Rs. 500 crore would be laid every month. In 1995 there were more than 2,000 big and medium-time bookies in Mumbai and neighboring towns, but since then the numbers have declined substantially to less than 300. The average monthly turnover has remained around Rs. 100 crore. The lead person who runs the syndicate of matka gambling in Maharashtra is known as a \”Matka King\”.
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This page is based on the article Matka gambling published in Wikipedia (as of Dec. 31, 2020) and was automatically summarized using artificial intelligence.
