Jharsuguda, May 15: An IPL betting racket was busted by the Jharsuguda police and has arrested seven persons in this regard. The police have also seized Rs 7 lakh cash from them. The cops busted this on a tip and raided the house of main accused Prateek Jadav of Chaukipada in the town and seized cash and mobile phones used for betting. Jharsuguda SDPO Purusotam Sethi said that on May 13 night, they had been informed that some youths have a hand in the betting racket for the IPL Match between Kolkata Knight Riders and Mumbai Indians. Later, the police team along with some eyewitnesses raided the house of Prateek Jadav and recovered cash and mobile phones used for betting. Pratik confessed to the crime that four more youths are also involved following which the cops arrested them also.