PANJIM: Demonetisation has not only hit the market badly but even illegal trades, including the matka industry which is on the High Court radar, has been affected.
While Crime Branch, which is investigating the source of matka has not been able to stop its operation, matka operations have literally come to an halt since the demonetization announcement.
Most matka dens were seen closed in the State with just a few operating, mostly from shops, bars, kiosks that also sell other articles. Betting has been reduced due to shortage of currency in the market as most people placed bets with Rs 100 notes.
There are total 12 matka operations (bazaar) in the market of which two – Bombay and Kalyan – were famous. Presently betting on Bombay was stopped by the operators whereas the Kalyan one is in operation all over. Matka agents in the State expect it will take six months for the situation to improve.
Some bookies who are in operation are accepting old Rs 500 notes and Rs 100 notes, but no Rs 1000 notes are being accepted.
One bookie from Panjim said the trade has dropped over 80 percent since demonetisation. He said some bookies had accepted bets on credit for a few days but later they stopped doing so.
Another bookie from Mapusa said some agents stopped trade due to shortage of currency notes and instructed bookies not to accept bets till further instructions.
“Some agents are still accepting bets and winners are being paid with old currency. The people are being told in advance that the compensation would be in old currency,” the bookie said.
