A Sindhi migrant from Karachi, Pakistan, Ratan Khatri introduced the idea of declaring opening and closing rates of imaginary products and playing cards. In 1961, the New York Cotton Exchange stopped the practice, which caused the punters to look for alternative ways to keep the matka business alive. In the original form of the game, betting would take place on the opening and closing rates of cotton as transmitted to the Bombay Cotton Exchange from the New York Cotton Exchange, via teleprinters. Whoever is caught playing the game will be punished. 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, or dealing with playing cards.Īs per the Public Gambling Act, 1867 both betting establishments and satta matka houses were outlawed completely.
It originates from before the era of Indian independence when it was known as Ankada Jugar ("figures gambling"). 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.
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