K S Maniyan (52), Ravi (23), both from HSR Layout, N Vikas (40) and Abhi (21) of Indiranagar were apprehended when, according to police, they were betting on the result of the match as well as the game sessions.
They were offering initial odds of 70 paise to one rupee against India. The rate changed as the match progressed.
The Central Crime Branch (CCB), which conducted the raid, said the suspects were involved in betting for the last few years and had established a well-knit network.
Police seized Rs 7.15 lakh in cash, a car, a laptop, a TV set, three remote-controllers, a computer, three mobile phones, two landline phone and six sheets with details of betting. The total value of the seized valuables is Rs 17 lakh.
The suspects reportedly struck deals with Akkipet Babu, Shibu, Rajesh, Narahari alias Benka, Shantilal, Mongi, Rahul, Ajay, Narayan, Nanjappa and Vimal, who are absconding.
House burgled
Two burglars made away with cash and valuables from a locked house in Nagarabhavi 9th Block on Sunday morning. The residents of the house, Shanthi Jayaram and family, were away in Shirdi when the theft occurred. The burglars gained entry into the house by breaking the grills and the door lock.
The intruders took to their heels when Hanumanthaiah peeped into the house.
Man ends life
A 22-year-old daily wage worker allegedly committed suicide by jumping in front of a speeding passenger train at the Kodigehalli railway crossing on Sunday.
According to the police, Manjunath took the extreme step because of some misunderstanding with his father.