Delhi Police chief Neeraj Kumar said on Thursday that Raj Kundra acknowledged making wagers through a business partner.
Kundra was questioned by police on Wednesday during investigations into a spot-fixing scandal that earlier led to the arrest of Rajasthan players Ajit Chandila, Ankeet Chavan and Test cricketer Shantakumaran Sreesanth.
On Wednesday, Chennai Super Kings team principal Gurunath Meiyappan was arrested in the spot-fixing case and released on bail.
Betting is illegal in India and any team official involved in the practice can be suspended under IPL rules.