Raj Kundra, who is British, owns the Rajasthan Royals team and is married to Bollywood star Shilpa Shetty.

He was questioned for several hours by the police on Wednesday and has been ordered not to leave India.

Last month, three players from his team - S Sreesanth, Ajit Chandila and Ankeet Chavan - were arrested.

The players were accused of spot-fixing which involves illegally rigging parts of a match, for example by timing the delivery of a deliberate wide or no-ball, to benefit bookmakers or those betting on matches.

Sreesanth has denied the charges and has proclaimed his innocence. The families of Chandila and Chavan have also said they are innocent.

The players remain in custody and have been suspended by India's cricket board and their IPL team. The arrests have shocked many Indians.

On Thursday, Delhi police chief Neeraj Kumar said Mr Kundra had admitted to betting.

"He has admitted to betting and has said that he placed bets on his own team through bookies. He also said that he lost huge sums of money in the process," Mr Kumar told a news conference.

Gambling on cricket is illegal in India.

Mr Kundra has not yet commented. His office told the BBC that they would soon issue a statement.

The IPL is considered to be the world's showcase for Twenty20 cricket and top Indian and international players take part, contributing to what is the world's richest cricket tournament.

bbc.com