Acting on a tip-off, police raided a flat at Neptune Society in suburban Bhandup last night and found the accused accepting bets for the match, they said.
The accused, identified as Nilesh Chadwa (45), Manish Babuwa (39), Dhawal Thakkar(23), Aditya Thakkar (26) and Rajesh Girat (42) were arrested from the spot, police said.
Two LED television sets, three laptops, 42 mobile phones and other incriminating items was seized from the spot, a police official said.
