10.4 C
London
Saturday, May 15, 2021

Here’s What You Must Know About The Matka Lottery

- Advertisement -
- Advertisement -

A lottery is a wagering contract system where one party puts in his money on the event’s happening. If the event turns out in favor of the person placing the bet, he takes home a lot of money. The legality of the lottery has always been in question because of its addictive nature. But since it is a state subject, many states decide upon the legality depending upon the tax collection. Several states such as Goa, Bengal, Andhra Pradesh, etc., have legalized the lottery system in their state.

Since lottery is a form of gambling which is purely based on luck, courts have been reluctant to recognize it as a legal game. However, the Matka lottery has been around since the 1950s, and it is one of the oldest lottery systems in India. Here is an article on everything you need to know about the Matka lottery.

Origin and development

The story of Satta Matka is very random, and it is quite surprising how it turned out to be one of the biggest lottery systems in India. During the 1950s, there was a regular trade of cotton in the Mumbai ports. The opening and closing rate of cotton was constantly published through the Bombay Stock Exchange. Since it was an ever-fluctuating value, people started betting on it. When the New York Stock Exchange took cognizance of this betting process, it hid the cotton’s trade value, and people had to shift to a more feasible paper-based betting.

After the cotton values were stopped from updating, people would write down the number combinations from 0-9 and put them in a pot called “Matka.” A random person would then be chosen to take out a paper slip and read out the numbers. When the announced numbers would match the number on some ticket, the owner would take home the entire pot.

The period between the 1960s and 70s saw a significant volume of Matka lottery transactions. The volume was so high that it caught the state’s eyes and ordered a crackdown on such gambling activities. However, recently with the advent of multiple online platforms, people can now buy a ticket, and a number would be generated through the electronic system. This has reduced the chances of rigging.

Legality of satta matka

The term “Satta” literally means gambling, and the Public Gamblings Act of 1857 has declared gambling illegal. The Act is, however, silent on the topic of e-gambling, which is a loophole. Since lottery ticket prices are subject to taxes, states adopt a liberal approach in passing a law.

Today, multiple online platforms offer all kinds of Matka gambling, and they are safe too. You can easily buy your ticket through online payment methods, and if you win, the amount will be credited into your account through the same mode.

What does Matka king mean?

The term was coined during the vintage Matka betting times when there were physical trade volumes. People would run large networks and syndicates of gamblers who would engage with common people and place their bets. Over time these gambling overlords became powerful because of wealth and power accumulation. The person who would have the largest “Matka” syndicate would be known as the “Matka King.”

Today, the dynamics have changed immensely, and the cities are devoid of any gambling syndicates. The title stayed on, and it is now bestowed on such a person who plays and regularly wins at online Matka games. You could be the next Matka king too, all you have to do is choose an online platform and play the Matka lottery regularly.

The biggest Matka king: Ratan Khatri

Ratan Khatri was the biggest gambling overlord of all time, and he was the king of the Matka lottery for 30 years. He accumulated millions of dollars worth of assets during his lifetime and recruited lakhs of punters under him. Ratan Khatri died in March 2020, and the Matka game of Matka came into the limelight again.

Variety of Matka games

There are mostly two most popular types of Satta Matka games that are played online. Kalyan Matka is one of the oldest lottery systems, and it runs five days a week from Monday to Friday. Matka is now available to play on mobile, where you can place the bets, and these apps keep notifying you about the prospective pots.

Another popular Matka game is the Worli Matka, and it runs seven days a week. Therefore, if you plan on playing regularly and trying your luck, Worli Matka might be the best thing for you.

Conclusion

Online Matka games fall into the grey area of Indian jurisprudence and are not illegal at the moment. Therefore, you can be assured of your money’s safety. But, it is noteworthy that these games involve an element of financial risk and must be placed responsibly and for fun—additionally, research about the site that offers online gambling services and put your money into it diligently.

- Advertisement -

Latest news

- Advertisement -

China’s Zhurong rover will land on Mars TOMORROW and endure ‘seven minutes of terror’

China is set to land its Zhurong rover on Mars on Friday as part of the country's first interplanetary mission.Officials revealed Thursday that...

Monica Jones, Philip Larkin And Me review: Jones’s life reads like material for a Larkin poem

Monica Jones's life reads like material for a Philip Larkin poem,...

Related news

- Advertisement -