<p>The 'matka king', Ratan Khatri, who pioneered betting in India, passed away. </p>.<p>A resident of Navjeevan Society in Mumbai, Khatri was 88 and ailing with old-age related issues. Khatri rose to fame in the sixties as 'matka king', because of his dominance in gambling circuit.</p>.<p>In 1962, it was Kalyanji Bhagat, who started matka, and Khatri was a manager. In 1964, Khatri started his own Ratan matka.</p>.<p>Matka was a form or gambling and involved betting on opening and closing rates from New York cotton exchange.</p>.<p>Khatri's betting and gambling network was spread across India. It got the name matka as it involved drawing of chits form a pot.</p>
<p>The 'matka king', Ratan Khatri, who pioneered betting in India, passed away. </p>.<p>A resident of Navjeevan Society in Mumbai, Khatri was 88 and ailing with old-age related issues. Khatri rose to fame in the sixties as 'matka king', because of his dominance in gambling circuit.</p>.<p>In 1962, it was Kalyanji Bhagat, who started matka, and Khatri was a manager. In 1964, Khatri started his own Ratan matka.</p>.<p>Matka was a form or gambling and involved betting on opening and closing rates from New York cotton exchange.</p>.<p>Khatri's betting and gambling network was spread across India. It got the name matka as it involved drawing of chits form a pot.</p>
