Satta Matka, also known as Matka gambling, is a type of lottery or bet that was first established when people began to wager on the opening and closing rates of the cotton that was being sent from the New York Cotton Exchange to the Bombay Cotton Exchange. However, the New York Cotton Exchange discontinued this game in 1961, which led bettors to explore for alternatives.

The Public Gaming Act of 1867 forbids matka gambling in India. The Satta Matka was known as the "Ankada Jugar" in the 1950s. The name Matka has remained same over time even though game rules have altered.