Hemant Malik, 32, was arrested yesterday while he was taking bets on the IPL cricket match.
Two mobile phones, a television set, a calculator, satta slips, and cash of Rs 27,500 and other articles were recovered from his possession.
Acting on a specific information that the racket was being conducted from a shop in Gaffar Market in Karol Bagh, police sent a decoy to place a bet.
"Negotiation for placing the bet was made by the decoy and the police team was informed which immediately raided the premises and apprehended one accused person and seized various articles," a senior police official said.
Malik disclosed that he was indulging in this illegal trade for last about 3-4 years and he used to take 'bets' through his mobile phone.
"The bets were placed by various individuals as per the stage of match. Subsequently, on conclusion of the match the bets were accounted for and thereafter on the following day the actual transaction of cash was done," the official said.