The owner of Satta Matka is a person who became very rich by gambling. In the early days, it was said that the owner was a man named Kalyanji Bhagat. However, there is no confirmation of this. He was a very successful gambler and made a lot of money through Satta Matka. In the present day, the owner is a man named Ratan Khatri. He is said to be one of the richest men in India and owns several businesses. Well, he is known in the gambling community. Satta Matka is said to be his most successful venture.
Satta Matka is a form of gambling that originated in India. It is played with numbers and betting. The game is to guess the number correctly drawn by the lottery. Players can bet on a Matka number or a group of numbers. The odds of winning are usually high, so the game became so popular. The game was made illegal in the 1980s, but this did not stop people from playing it. Instead, it moved underground and became even more popular.
The first-ever Satta Matka owner Kalyanji Bhagat started selling paan (betel leaf). Betting on horse races and cricket matches was the normal practice for Bhagat’s betting. But, he realized that although he was winning, other people were making a lot more money than him. So, Kalyanji decided to start his own matka number game to make money.
He started by renting a shop and placing three sacks of wheat on the counter. Five customers came and placed bets of Rs 5 each. Kalyanji gave them wheat grains from the sacks to mark their tickets. The first customer’s ticket had the number ‘5’, so he won Rs 25 (5×5). The second customer’s ticket had the number ‘4’, so he won Rs 20 (4×5). Finally, the third customer’s ticket had ‘7’ on it, so he won Rs 35 (7×5).
After this successful game, Kalyanji tried it several times before finally opening a full-fledged business. Using his previous Rs 60, he bought some goods and started selling them on credit in the neighborhood. He would then offer loans to the locals at a very high-interest rate. This is how Kalyanji Bhagat became one of the richest men in India. Later, Ratan Khatri took over the legacy, and he bought new variations in the Matka Gambling.
Ratan Khatri, a.k.a. “Czar of Matka,” was born into a business house in Udaipur, Rajasthan. His family had been involved in the gambling business for several generations, and his father was also involved in this business; it is said that he owned more than 80% of the market share in the state.
It is said that Ratan Khatri was involved, at one time or another, with 40 different matka groups but became most renowned for having “earned” the title of Czar by single-handedly wresting control over 98% of the Gujarat and Rajasthan Matka operations.
Ratan Khatri was an enterprising young man, and he is said to have started by lending money at interest to those who wanted to participate in Matka. This soon led to him becoming the owner of a matka den. He is famous for making a fortune by running this den and, in time, came to control the matka trade in Rajasthan.
It is said that he revolutionized the gambling industry by introducing speed cards – special cards containing four different “charts” with names of the three contestants (loser, winner, and runner) and numbers (1-36). The game was over within seconds compared to all night long sessions where only one chart was used.
Matka was and continues to be a very popular form of gambling in India. Ratan Khatri is credited with having made it even more popular and profitable. He was known for his shrewd business sense, toughness, and determination. He was also known for being a man of his word and loyal to his friends and employees. Ratan Khatri became synonymous with Matka gambling all over India. The Government of Gujarat issued a stamp in his honor, Foreign currency notes were sold as souvenirs with an image of him printed on them, and songs such as “Matka King” were composed in his honor.
Ratan Khatri became a millionaire almost overnight. He was also known for being generous, and he continued to contribute heavily to the poor, sick, and needy. He cared for his employees – both in Rajasthan and in Gujarat- by providing them with free education, health insurance, etc.
His son Nilesh Khatri now carries on the matka legacy. Currently serving as the owner of Satta King, India’s largest Satta gaming company. He has also diversified into other businesses such as real estate and event management.