Thane District Superintendent of Police (Rural) Rajesh Pradhan said that the arrested were betting on the one day cricket match being played by Pakistan and Bangladesh.
He said that the person arrested in the raid revealed that he indulged in betting huge amounts and fixing in the game.
Allegedly, he carried out the entire operation through his cellphone and had many clients with whom he dealt.
The police named those arrested as Rajesh Giridharlal Acharya (48) Abdul Shakil Khan (23) Linel Marshal Coelho (30) Hanif Abdul Rehman Shaikh (49) and Vinod Tejabai Patel, whose flat was alleged used for betting.
The police seized one colour TV set, on laptop and six mobile phone, besides cash from those arrested, against whom offences under Section 4 and 5 of the Bombay Gambling Act have been registered at the Kashimira police station, the police said.