The accused identified as Firoz Ansari (35) was nabbed last night and produced before a local court, which remanded him in police custody till May 25.
On Thursday, police had held six bookies, including two top bookies-- Sonu Malad alias Batiya and Deven Kothari alias Bhaiji, on charges of betting.
Ansari was basically a mediator between those who wanted to bet and the six bookies who received betting, police said.
"The bookies had clients from abroad. Ansari acted as a mediator between bookies and the foreign clients," the officer said.
This is the fifth season of the Indian Premier League, (IPL) initiated by the Board of Control for Cricket in India (BCCI) in 2007. The first season was played in 2008.
The accused were using the world's largest internet betting exchange "betfair" as platform to accept betting when the cops nabbed them, police said.
Police also claimed that some "big names" might surface for their alleged involvement in betting through the arrested accused.