New Delhi, Apr 30 (IANS): Eight men were arrested in two incidents for allegedly running cricket betting rackets during the ongoing Indian Premier League (IPL) cricket matches, police said Saturday.

In the first incident, Deepak Kaushik, 25, Kapil Kaushik, 23, Ankit Kaushik, 19, and Parvesh, 19, were arrested from Pootkalan area in west Delhi Thursday.

"The arrests were made after police received a tip-off that they were taking bets for the IPL match between Delhi Daredevils and Kolkata Knight Riders on Thursday," Deputy Commissioner of Police (Crime) Ashok Chand said.

"They had received bets worth Rs.12 lakh by the time the police raided," Chand said, adding that so far they had accepted bets worth Rs.2.5 crore during the ongoing IPL season.

Police recovered counterfeit Indian currency with face value of Rs.162,000 in the denomination of Rs.1,000 and Rs.500 notes from Deepak Kaushik, he said.

Counterfeit Indian currency with face value Rs.7,000 was also recovered from Kapil Kaushik who had received it from Deepak for circulation in market, Chand said.

"Deepak had purchased counterfeit currency from Ashok, a Paschim Vihar resident, who is still absconding," Chand said.

In the other incident, Satya Prakash, 33, Praveen Sharma, 45, and Sandeep Khatri, 25, were arrested from a house in Rohini in north Delhi Friday after police received a tip-off about a betting racket.

"They were caught red-handed during the T20 cricket match between Mumbai Indians and Rajasthan Royals on Friday," Deputy Commissioner of Police Chhaya Sharma said.

"Police sent a decoy customer who finalised a deal for Rs.1,000 with them," Sharma added.

Police recovered Rs.77,500, a television, a laptop and three mobile phones from them.