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Did Matka King bring Ratan Khatri's ties with real Bollywood star to life? How Vijay Varma show blends fact with fiction

Matka King is a fictionalised take on the rise of Ratan Khatri, the gambling baron who popularised matka in Mumbai and other parts of the country.

Updated on: Apr 24, 2026, 20:23:19 IST
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Matka King, the newest show from the Prime Video stable, is currently enjoying great success on the platform. It has become the most-watched Indian show on the streamer in the last two years, beating some rather bigger names. A lot of it has been due to the buzz the show generated with its premise - the tale of a gambling baron from when Mumbai was Bombay. And even as the makers have maintained the plot is fictional, the story of Brij Bhatti (the protagonist) borrows heavily from the rise and fall of the original matka king Ratan Khatri.

Matka King stars Vijay Varma as the titular gambling baron, modelled after Ratan Khatri.
Matka King stars Vijay Varma as the titular gambling baron, modelled after Ratan Khatri.

One episode borrowed from Khatri’s life is his love for Bollywood. After he established a fledgling matka business in Bombay in the 60s, Ratan Khatri wanted to diversify his businesses. He began frequenting film sets and even financed several films in the 70s. The show presents one such film, slightly fictionalising the episode, but keeping the real-life inspiration intact.

Spoilers for Matka King ahead!

In the show, Brij Bhatti (Vijay Varma) meets film star Maqsood (Cyrus Sahukar) at a party organised by his associate and paramour, Gulrukh (Kritika Kamra). He is soon invited to invest in Maqsood’s next film, which he does. But eventually, when the film releases, Maqsood does not invite Brij onto the stage with the other co-producers, leaving him humiliated.

How Matka King blends fact with engaging fiction

Ratan Khatri did have a legitimate career as a film producer, though it was very brief. In 1976, he produced a film titled Rangila Ratan (not very subtle with the branding). The film, directed by S Ramanathan, starred Rishi Kapoor, Parveen Babi, and Ashok Kumar in the lead roles. The film merely borrowed Ratan’s name but had no connection to his life or even to the matka business. It was not a box-office success, discouraging Khatri from ever venturing into films again.

Directed by Nagraj Manjule and produced by Siddharth Roy Kapur's RKF, Matka King stars Vijay Varma, Kritika Kamra, Sai Tamhankar, Bhupendra Jadawat, Gulshan Grover, Siddharth Jadhav, Jamie Lever, Bharat Jadhav, Girish Kulkarni, and Kishor Kadam in pivotal roles, with guest appearances by Cyrus Sahukar and Vineet Kumar Singh.

 
ABOUT THE AUTHOR
Abhimanyu Mathur

Abhimanyu Mathur is Deputy Editor, Entertainment at Hindustan Times. With almost 15 years of experience in writing about everything from films and TV shows to cricket matches and elections, he inhales and exhales pop culture and news. Currently, he watches movies and TV shows and talks to celebrities for a living, while occasionally writing about them as well. A journalism graduate of Delhi College of Arts and Commerce, Delhi University, Abhimanyu began his career with Hindustan Times at the age of 20, swapping classrooms for newsrooms at an early age. He began his journey in the early days of digital journalism, later switching to the madness of print journalism. Work has led him to far off places like Japan and Jordan, as well as to the interiors of Haryana and the Indo-Pak border. He dabbled in city reporting in places like Meerut, Gurgaon, and Delhi, covered the Olympics and Cricket World Cups, before finding his calling in entertainment and lifestyle during the pandemic. A Rotten Tomatoes Certified Film Critic, he is equally at home covering stories on ground as he is interviewing celebrities and studios, and sometimes prefers to shepherd teams in delivering traffic through the day. Even as his role has evolved from reporter to supervisor over the years, his first love remains writing (and of late, talking on camera). With a good understanding of cinema and its trends, and a keen eye for detail, he continues to spark conversations around showbiz for readers around the world.

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