Matka boss originated in the 1950s when people used to place bets on the opening and closing rates of cotton that were transmitted to the Bombay Cotton Exchange from the New York Cotton Exchange, via teleprinters. In 1961, the New York Cotton Exchange stopped the practice, which caused the punters/gamblers to look for alternative ways to keep the Satta Matka business alive. The 1980s and 1990s saw the Matka business reach its peak.
