In the continuation of Matka King's second episode, we pick up where we left off. A player draws the card, declaring Laljibhai's man as the winner, leaving Brij with a loss of Rs 9,900, the entire amount he had collected that week. True to his word, Brij pays the full amount, his mind plagued by the debt he owes Jinu Master.
The next day, Brij makes his way to Jinu Master's stall to repay a portion of his loan and asks for more time. Jinu Master takes pity on Brij after hearing about his honesty. Brij then borrows more money from him and rents a new place to set up a betting stall.
Meanwhile, Dagdu returns to the textile mill and invites the labourers to place bets at the new stall. Brij tells Dagdu and Lachu that he wants to rebrand the business using a matka, an earthen pot found in most Indian households. He suggests using the pot to draw the winning card to appeal to the labourers.
Slowly, Brij sets up more stalls in public places to attract more bettors. As the business expands, Brij creates new games and asks Lachu and Dagdu to follow the same pattern at their stalls.
One day, Brij rushes to the hospital when Barkha gives birth to their son, Anmol. Brij hires Rukmani as a nanny to take care of Barkha and Anmol.
Elsewhere, a journalist named TP D'souza speaks to his editor at The Progress Post. The editor, Shubhash Kanojia, rejects TP's story on race course gambling and asks him to work on an entertainment gossip piece instead. The peon tells TP that Shubhash himself places bets and informs him about Brij's "honest" betting stall.
Back at the stall, Brij names his business Anmol Bazaar after his son and waits for labourers to place bets. When very few people show up, Dagdu and Lachu begin to lose faith. Brij encourages them to continue and introduces a new game inspired by Barkha's habit of saving money in different places at home. He explains the changes to Dagdu and Lachu. The game works, and Brij starts making money. Laljibhai is surprised as Brij also begins repaying Jinu Master.
One day, Gulrukh, an intriguing character, happens upon Brij at his stall, and she introduces herself with a confidence that cannot be ignored. She extends a generous offer of sharing her race winnings with him, but he politely declines. Curious, she enquires about his business, and Brij, with a calm demeanor, explains the intricate rules of the matka game. As they converse, the police suddenly raid the stall, but Dagdu, a resourceful individual, manages to bribe the officer and evade a potential catastrophe.
Later, when Brij faces losses in his business, Gulrukh, with a compassionate heart, offers to loan him Rs 4,000 to help him stay afloat. Meanwhile, TP, an investigative journalist with a keen eye for the truth, takes an interest in Brij's matka business and begins to uncover its hidden depths. He observes the bribery and approaches Shubhash, a seasoned editor, to publish his story. However, Shubhash declines and urges TP to focus on more sensational gossip involving Tiger Pataudi and Sharmila Tagore's affair.
Elsewhere, TP confides in his mother about his editor's rejection. She asks him to reveal his true motivation behind the story. TP admits that it would be difficult to disclose that his brother's gambling addiction and subsequent death inspired him to write the story. She advises him to find another way to publish it.
Determined to expose the truth, TP contacts his colleague Vishakha at Bombay Mornings and asks her to publish the story. The article quickly spreads across the city, shedding light on the rise in gambling-related crimes linked to Brij's matka business. Union leaders who extort money from labourers become upset as workers begin spending their hard-earned money on betting instead.
As the days pass, Brij and Gulrukh grow closer, and she encourages him to introduce his matka games to her wealthy friends. Soon after, Laljibhai sends his man Samba to place bets worth Rs 9,000 across various games. An employee informs Brij about the calculations behind it, and Brij, seeing an opportunity for profit, allows the bets and contacts potential investors to act as risk partners. Jinu Master agrees to take on 50% of the risk in exchange for half the profits.
That night, as Brij returns home from a successful day at work, he is unexpectedly attacked by union leaders who are upset about their extortion business being disrupted. The episode ends with Brij struggling to defend himself against their aggression.
