Vijay Varma Starrer ‘Matka King’ Premieres on Amazon Prime Video: Chronicling the Rise and Legacy of Ratan Khatri’s Underground Gambling Empire

Ratan Khatri, the Mumbai-based gambling kingpin widely regarded as the face of India’s matka betting industry, was born in Karachi prior to the Partition of India. Upon migrating to Mumbai in 1947, Khatri began working within the city’s textile and trading hubs, where he encountered early forms of betting linked to cotton price fluctuations. This informal practice would eventually evolve under his direction into matka gambling, a structured and large-scale underground network that dominated the Indian betting landscape for several decades. Matka is defined as an illegal lottery-style betting system where players wager money on numbers; while it originally relied on the opening and closing rates of cotton traded on the New York market, Khatri introduced a more reliable method involving the drawing of numbers using cards or slips from a pot, or "matka."

Under Khatri’s control, the system featured "open" and "close" numbers drawn at fixed times, nationwide communication of results, and the allure of small bets yielding massive returns. This operation evolved into a massive syndicate involving lakhs of bettors and crores of rupees daily, establishing matka as one of the largest underground industries in the country. By the 1960s and 70s, Khatri had expanded his influence across multiple cities and reached international players. He distinguished himself through a reputation for transparency by frequently drawing numbers publicly, which built a unique foundation of trust among his followers and earned him the enduring title of "Matka King."

The empire faced significant legal consequences during The Emergency in India, during which Khatri was jailed as part of a wider administrative crackdown on illegal activities. By the 1990s, the network began to weaken due to increasing police action, the involvement of the mafia, and internal conflicts, leading Khatri to eventually step away from active operations and retire. Although he passed away in 2020, his name remains synonymous with the industry. The Matka King series captures this journey through Vijay Varma’s lead role as Brij Bhatti, mirroring the humble beginnings, rapid expansion, ambition, risk, and eventual downfall associated with Khatri's life. The story remains a compelling mix of crime and cultural impact, reflecting an entire ecosystem that became deeply embedded in the social fabric and parallel economy of Mumbai.