New Delhi, April 30 (IANS) Five people were arrested for running a betting racket on the Indian Premier League (IPL) cricket matches and fake currency with the face value of Rs.1.69 lakh was recovered from them, police said Saturday.

Deepak Kaushik, 25, Kapil Kaushik, 23, Ankit Kaushik, 19 and Parvesh, 19, are residents of Poothkalan in north Delhi Thursday, said police.

‘They were caught during the match between Delhi and Kolkata and had received bets worth Rs.12 lakh till the time of raid. So far the total bets accepted by them in the IPL matches amount to Rs.2.5 crore,’ said a police official.

‘Deepak mixed the counterfeit currency with the genuine notes for making payments to the betters. He also circulated the fake currency in the market,’ added the official.

The police also seized six mobile phones, laptops and televisions used in the betting, said the officer.