Ex-Matka king Ratan Khatri died on Saturday morning in Mumbai. According to sources, Khatri, 88, was ailing for a long time. In 1960s Khatri had joined Kalyan Bhagat to set up Matka in Mumbai.

Matka, a lottery or gambling with number is popularly called as Ankada Jugar. Matka was popular in Mumbai from pre-independence time that involved betting on the opening and closing rates of cotton transmitted from the New York Cotton Exchange. Matka was popular in all classes of Mumbai in 1960s. In 1962 Kalyanji Bhagat, started Worli Matka.

Ratan Khatri had joined Bhagat as a manager. In 1964 Khatri parted his way from Bhagat and formed his own 'Ratan Matka'. The Matka or drawing lots from chits in a pot became so famous that the turnover of the gambling touched Rs 1 crore daily.

According to sources, Khatri had not been keeping well for some time. He was living with his family in Navjeevan Society at Mumbai Central. Khatri passed away on Saturday morning.

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