New Delhi: Matka or Pot Gambling has its roots dates back to pre independence era. It was previosly known as Ankada Jugar alias Figures gambling.

 

In its early days, bets were placed by punters on opening and closing rates of cotton traded on New York wholesale cotton market. The winning number recieve 9 times the sum he betted. Rates on Cotton were used to be quoted in three digits by punters.

But a time came when the rates for open and close turned out to be zero, so the bookies faced heavy loses. They started gambling on cotton rates of Mumbai stock exchange at Siwri.