All three cricketers, who face charges of cheating and criminal conspiracy, have been suspended by the Board of Control for Cricket in India.
"As of now, the 3 players ... stand suspended pending enquiry," the BCCI said in a statement. "Strictest action will be taken, if found guilty."
Sreesanth has the highest profile among the players detained by police, having played 27 test matches and 53 limited-overs internationals for India.
Former Australian test player and Rajasthan fast bowler Shaun Tait issued a statement denying any links to the arrest of his three Indian teammates. Tait's name circulated in social media and in some Australian media outlets on Friday.
"I'm bewildered, I'm angry and I'm upset at the false suggestions I've been involved in any wrongdoing," Tait, 30, said in the statement.
"At no stage in my career have I engaged in spot or match fixing and I'm in discussions with my manager and legal representatives to examine how this episode unfolded and any further action I may take."
Former International Cricket Council chief Sharad Pawar called for quick and strong action against the three charged players.
The domestic league "has given substantial financial support to players and this is unforgivable," Pawar said. "The BCCI has to take strict action against the players. The suspension announced is the right kind of action but it should not stop there. There should be a thorough enquiry and, if proven, they should be banned for life."
Former India captain Sourav Ganguly called for a life ban on the players if found guilty.
"Nobody can prevent corruption other than players," Ganguly told the CNN-IBN news channel. "It's about individuals and nobody can force you to bowl a no-ball or a wide. The players found guilty should be banned for life."
Former India allrounder Kirti Azad, now an Indian lawmaker, said there wasn't enough of a deterrent against spot-fixing.
"This had to happen and will happen again because enough action is not taken against such people," he said. "Bans of a year or two will not help. People should get life bans, or else no one will be able to stop this menace. Cricket is considered a religion here (in India) but it is only bringing disrepute."
Last year, little-known allrounder T.P. Sudhindra was handed a life ban after he was shown in a sting operation by India TV news channel as agreeing to bowl a no-ball at a predetermined time in a local T20 game in the central Indian city of Indore.
Police in New Delhi were also involved in investigations into the match-fixing allegations of the 1990s which implicated former South Africa test captain Hansie Cronje.
Former Pakistan captain Salman Butt, fast bowler Mohammad Asif and Mohammad Amir had been found guilty of spot-fixing during a series in England in 2010 and served from three to seven months in prison.
- AP