Ratan Khatri

Ratan Khatri (c. 1932 – 9 May 2020) was an Indian gambling kingpin and film producer, widely regarded as the "Matka King" for his central role in transforming matka, a form of betting, into one of the most lucrative underground industries.

Early life Ratan Khatri was born into a Sindhi Hindu family in Karachi, British India. Following the Partition in 1947, his family migrated to Mumbai (then Bombay). As a teenager, Khatri began working in Mumbai's bustling textile markets and mill areas where he was introduced to gambling on cotton exchange numbers.

Over several decades, he established a nationwide gambling network that became synonymous with his name and legacy. He simplified the game by introducing 3 card draws using playing cards (from 1-10) from an earthen pot (matka), which added transparency and credibility to the process.

By the 1970s, Ratan Matka had become a nationwide phenomenon with daily turnovers reportedly reaching ₹5 crore. His clientele included people from all walks of life, including Bollywood celebrities and high-profile businessmen. and 2026 Hindi biopic series titled "Matka King" starring Vijay Varma, both were inspired by his life and times. Roy Kapur Films and Aat Pat Productions, highlighting Khatri’s rise in India as the "Matka King" and the impact of matka gambling on Indian society post independence.