The History of satta matka is a very long and interesting story, A mixture of both myths, facts and reasonable beliefs. Satta matka has not only nurtured the indian gambling industry in the 1900’s but also helped the south east Asian satta industry to thrive.
Please do not make a mistake about it: Satta matka is not just a game; Sometimes satta can also determine your fate for the next couple of years. This is because, The amount of money and real-estate involved is too huge.
Satta is a hindi word quite similar to “gambling” or “betting”. Satta was originated in mumbai during the mid 90’s. Satta Matka was initially practised after the independence where bets were placed on the New York Stock exchange opening and closing rates.
Kalyanji Bhagat is considered to be the father of matka gambling because he was the first person to coin the term “Satta Matka”. During the initial days kalyanji bhagat was accepting bets from all over the country on the opening and closing rates of the cotton traded on the New York wholesale market.In the Mid 90’s New York Stock Exchange stopped the practise of transmitting cotton rates to Bombay cotton exchange.
This has led to a huge gap between the people who were placing bets and the people who were accepting them.Seeing this as an opportunity Kalyanji Bhagat started creating his own satta matka market with open and close results that he would declare. He created a market called kalyan and worli which had both open and close results. kalyanji bhagat used to declare the results of his markets in front of people with the help of drawing a random set of three cards. This helped kalyanji bhagat gain trust among people and would eventually make him become the matka king that he is today.
The term “satta matka” was coined because kalyanji bhagat would write down numbers and place it inside a pot or “matka” and then randomly pick the numbers up to announce the results for kalyan and worli satta markets.