People often defend their habit of gambling. They even quote how gambling has been a part of our Indian culture and that’s how ‘Gamble on Diwali’ became a festive ritual for many. But dear readers, you often forget one thing what gambling could lead to. Just recall how the Pandavas lost all their fortune and even Draupadi in the game of gambling. Many of you may be wondering why we are suddenly talking about old epic sagas and history. It’s not an old epic anymore, the gambling and betting tornado is sweeping India’s youth all over again. Yes, fantasy gaming, betting apps and platforms like Dream11, are on a surge in the country. These platforms are on the rise. If we say that there are more user accounts registered on these platforms than the Demat accounts, it won’t be hyperbole. The user accounts have surpassed the country’s Demat account on Dream11 as it has now a user base of over 220 million. Shell-shocked?
Let us, the Corporate Soldiers, tell you the shocking details of this story!
Dream11 Surpasses Country’s Demat Accounts
Usually, people don’t care about so many facts. But when a fact shows signs of concern, we should never ignore it. If such a thing goes unnoticed, it can cause havoc later. Let us ask a simple question, how many of us know about the number of Demat account holders in the country? Not many people, right? Having a Demat account is not only an individual financial investment but it is also a mutual benefit for a country as it contributes to its financial inclusivity. But when mere a betting app surpasses the Demat user lists, it raises alarms for all of us. As of now, the country’s Demat accounts stand at around 185 million, while the user base on Dream11 stands at over 220 million.
Why are they so popular and why people are falling for such a gamble? Have we, the Indians, already become so faithless and hopeless about a brighter future? Or are we losing creativity due to such lucrative gambling traps?
What is The Cause?
Everyone wants easy money and day by day, this innate desire grows even more. Afterall, who wants to hustle in the demanding nature of the Indian corporate world? This thought itself is dangerous, especially for youth. They all want easy money, easy careers and easy accumulation of things. The rise of gambling apps, fantasy games and platforms is a symbol of it. This tells us how youth is inclined towards a ‘work no more’ attitude and this explosive growth of such platforms is on the rise due to many factors.
- Factor one, they all have affordable internet.
- Factor two, they all have the best smartphones, and they are so deeply buried in them.
- Factor three, the aggressive marketing of such platforms has attracted so many people. They play fantasy sports as a mere hobby in the beginning then become addicted to it.
However, our youngsters don’t realize the kind of risks they are inviting into their lives due to such platforms. This constant desire for easy money and addiction to fantasy games are making them blind. They are blinded in such a way that they can’t see the future. They don’t understand the importance of time and youth. In other words, they are unable to clear the haze of delusion and perceive the reality. This is an alarming sign for our country’s future, its economic and social reality.
Remember a few cases that have surfaced all over the internet where a kid addicted to gaming sold his parents’ property and invested an amount of ₹8 lakh in such a platform. Did he win? Of course not, it’s a gamble. What can we expect?
Look at The Alarming Numbers:
| Aspect | 2023 | 2025 | 2031 |
| Dream11 users (in millions) | NA | 220 | NA |
| Total Fantasy Sport Users (in millions) | 180 | 500 | NA |
| Fantasy Sports Market Size | $751 million | $28,980 million | $3,400 billion |
| Consumer Spending on Sport Betting | $121,000 million | NA | NA |
| Financial Losses in India (INR crores) | ₹50,000 | NA | NA |
Have you seen these numbers? It indeed is alarming, isn’t it? Now, the total number of fantasy sports users in India has already reached 180 million in 2023 and as current trends show us, it will hit 500 million by 2025. We should all be aware of red flags here. It’s a dangerous sign that we, Indians, have crossed because, despite legal restrictions, betting apps in India have grown by 19.4 lakh new downloads. This was the year 2023 alone.
Now, if we tell you about the consumer spending on sports betting, you will definitely sweat in your pants. Numbers don’t lie, do they? So, hold your ground and read these numbers we have brought to you. In 2023, the spike was $121,000 in 2023. What was this number in 2019? Just $28,000. Hits you hard, isn’t it? We need to stop such gambling because the country’s financial losses from gambling are rising by over ₹50,000 crore annually.
Why This is So Concerning?
Youth is addicted, our youngsters are hooked and what do they get from this addiction? Financial losses. Families are torn apart, money has been lost. In a country where daily survival is so harsh for most middle-class people such habits can drain their last drop of blood. Not only do over 90% of fantasy sports participants lose money, but most of them also lose their lives. Once their family’s hard-earned money is lost, they choose the other way. And what is that other way? They choose to escape life itself. That’s why we said it’s a dangerous zone that we have already crossed. Let’s see why we keep saying over and over that it’s a matter of concern for all of us.
Financial Crisis of The Middle Class:
Most users, especially from lower and middle-income groups, lose money chasing unrealistic wins. This often leads to debt, distress, and in severe cases, even suicide. Yes, these stories are harrowing. Recently, families in Telangana and Nizamabad have taken their lives as they were unable to repay massive loans incurred through online betting.
Lost Focus and Missed Opportunities:
What if these people could use their precious money for other important things in life? Instead of fantasy gaming and betting apps, they could have invested it in savings or education, or even the stock market. However, they lost the opportunities to build long-term wealth because of these lucid dreams. Their entire focus has been shifted. These people are mere victims of these gambling apps, the real culprit is the lucid advertisement and the government too. How? Because the government’s focus appears to be somewhere else. The wealth creation through investing to online gaming is a delusion. Now is time that the government should step in for the welfare of the people and add some further restrictions on these platforms.
Mental Health is in Danger too:
Youth is addicted, our youngsters are hooked and what do they get from this addiction? Financial losses are one, mental health is the other. Recently, an Indian Psychiatric Society took notice of it and according to their study, about 20% of gamers have severe signs of addiction. It is a red dot in our growing generation because most of these addicts are either adolescents or young adults. As we know the World Health Organization now recognizes Internet Gaming Disorder as a public health concern. India, we must pay heed to these words, ‘Addiction leads not only to financial ruin but also to distress, loneliness, and deteriorating family relationships’. When are we wish to keep quiet on these rising numbers?
Celebrity Are Also The Culprits:
When you are a celebrity, you hold a social responsibility. Nowadays even a child knows this fact, then how can our celebrities ignore this? Why do they endorse such apps? We agree there are some regulatory gaps and legal gaps in our policies as well. But why are these fantasy sports being classified as ‘games of skill’? What kind of skill they are talking about? No, these are purely gambling apps. These are a few loopholes and this lack of enforcement allows these apps to lure people here, while in U.S. they are banned. Our celebrities also should hold the responsibility to not endorse these apps.
FOMO is The Other Factor:
Peer pressure or FOMO, the new word for the former, is another factor. Peer pressure is one thing that makes our youth vulnerable as it drives millions of young Indians to these platforms. Especially when the IPL season is on. The promise of easy money and the fear of missing out (FOMO) lure these young sports enthusiasts to play the gamble. And hence, they often find themselves in a loop that they can’t escape.
How Should We Resolve it?
The psychological mania around Dream11-like platforms had made us think a lot over and over. It’s a wake-up call for all of us. Also, the government now has begun to strengthen regulations. It has banned hundreds of illegal apps and mandated KYC even. It is in consideration of approving new laws that will regulate online gaming and betting. However, this is not the ultimate plan as users will still be able to access banned platforms via VPNs and other workarounds.
We Hope The Youth Understands it Soon.
Dear youngsters, we hope you are reading this. If you are then we urge you to clear this haze and delusion. The fantasy world can not be a reality and you must realize it soon. Your digital entertainment should not come at the cost of your financial security, your mental-health and the true reality of your life. Let’s pause and consider everything all over because time is precious and so is your life!
