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Satta Matka - Small World of Gambling with Big Money
Satta is a Hindi word which means Betting. It started in Mumbai (then it was Bombay) in 1960s. The process of Satta Matka started by trading on the opening and closing amount of the cotton traded in New York wholesale market. Later, the New York stock exchange discontinued this process. In order to continue the legacy of Satta, imaginary products opening and closing rates were traded using lottery. The numbers were written and put in a big pot (by which the name Matka came) and three chits were drawn to announce the winners. Initially, this was carried on for 5 days only since they followed the New York wholesale market. However, when the business was done on imaginary products it became all 7-days trading.
The Satta Matka business was pioneered by Kalyanji Bhagat and later continued by his son Suresh Bhagat and daughter-in-law, Jaya Bhagat. Due to family clashes, Suresh Bhagat was murdered by his own son and wife in a car accident.
This business was mainly carried on from the cities of Gujarat, especially from Ahmadabad. The craze for Satta Matka increased so much that it spread as an illegal gambling network with international punters investing pools of money in the business.
The business is still prevalent with the new rules. No more matka is used but the playing cards are drawn instead of the chits. Three cards are drawn to decide the number for the day’s gambling.
The Satta business has been modernized and there are several websites to do the business online. The business which started on a small scale has now been sophisticated with the modern technology and methods. This can make or break a person’s life since it is based on mere luck.
The main markets are Milan, Kalyan, Rajdhani and Main Mumbai. These markets have two slots; one in the morning and one in the night. People have to fill out a form with their choice of number and submit with the amount, which differs for each market. At the time slot, the three playing cards will be drawn indicating the winners.
Now, the modern way of betting has been through mobile and online devices and more importantly through the brokers, who indulge in betting during cricket matches. People have gone to the extent to lose matches for their clubs and countries for the sake of easy money. We have had the recent episode of IPL cricket matches being fixed, by their own managers.
Betting any day is a major risk. When people make good money, then they become an addict to it and such habits derails a person’s life, if they lose. The name and fame is lost in jiffy with such bad addictions. It may be fun but people have to realize, that no pain no gain. Government has brought in major rules to curb such habits; however such illegal practices thrive in the modern world for easy money.
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