The game known today as 'Matka' or 'Satta Matka' has a humble and fascinating origin in the financial hub of Mumbai (then Bombay), India. It has evolved significantly over the decades, transitioning from a simple, legitimate form of betting to an underground phenomenon.
The Matka game's earliest form began in the 1960s based on the opening and closing rates of cotton transmitted from the New York Cotton Exchange (NYCE).
The credit for establishing the original system goes to Kalyanji Bhagat, a farmer from Gujarat who migrated to Mumbai.
The original system faced a significant disruption in 1961 when the New York Cotton Exchange stopped its operations. This forced the operators to find a new method for generating random winning numbers. This is where the term 'Matka' (which means earthen pot in Hindi) gets its name:
The game saw a major decline in the late 1990s and early 2000s:
The history of the Matka game is a unique part of Mumbai's social and financial history, reflecting a transition from commodity trading-based betting to a simple, random numbers game.
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