Matka or satta gambling was a form of betting and lottery where bets were placed on the opening and closing prices of cotton traded from the New York Cotton Exchange to the Bombay Cotton Exchange.
After India’s independence. Then it was called ‘Angada Jugar’. It evolved over time and became completely different from what it originally was, but the name ‘Matka’ remained. Today’s Matka / Satta King gambling is based on random number selection and betting.
In satta matka the numbers 0-9 are written on pieces of paper and placed in a large clay pot. One person draws the lottery and announces the winning numbers. Over time, as times have changed, so has the ritual, but the name ‘Matka’ has not changed. Now, three numbers are drawn from a pack of playing cards. A person who earns a lot of money from matka gambling is called ‘Matka King’.
As the textile mills began to flourish in Mumbai, many mill workers migrated to Utika, and as a result, bookmakers opened their shops in and around the mill areas, thus central Mumbai became matka business heart of Mumbai.
Satta Matka: History
The satta Matka began in the 1950s when people placed bets on the opening and closing prices of cotton, which were transferred via teleprinters from the New York Cotton Exchange to the Bombay Cotton Exchange.
In 1961, the New York Cotton Exchange stopped the practice, which caused the punters/gamblers to look for alternative ways to keep the satta matka business alive. The 1980s and 1990s saw the matka business reach its peak.