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. Kalyanji Bhagat is considered to be the father of matka gambling because he was the first person to coin the term “Satta Matka”. Satta Matka was initially practised after the independence where bets were placed on the New York Stock exchange opening and closing rates. Satta was originated in mumbai during the mid 90’s.
Satta is a hindi word quite similar to “gambling” or “betting”. This is because, The amount of money and real-estate involved is too huge.
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. 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. The History of satta matka is a very long and interesting story, A mixture of both myths, facts and reasonable beliefs.
