The group was operating at a large scale during the India Vs South Africa match yesterday when the police conducted a raid, DCP (Southwest) R A Sanjeev said.
The four accused -- Yashpal (30), Amit Kumar (35), Harish Kumar (24) and Rajesh Kumar (32) -- are property dealers in the area, he added.
The police recovered cash around Rs 15,000, 16 mobile phones connected to a device for the purpose of registering bets, a computer, an LED television and four books registering bets from their possession.