According to an official release by Delhi Police, the gang admitted running the racket for three months.
"During this IPL, they had undertaken a gambling business of Rs. 29 lacs till now. They further revealed that they used to take the Betting Rate's of IPL 20-20 Cricket Match of Delhi Vs Chennai per ball/per Over," read the official release.
After, receiving the bets from callers over the phone they used to collect money from them the very next day.
The gambling racket was being run at Delhi's Rajouri Garden area.
Police seized Rs 2.8 lakh cash, nine mobile phones, one 32-inch LED TV, DVR, laptop, five purses and two luxury cars.
Further investigation is on to trace other active gambling rackets. (ANI)