A SEBI-registered financial advisor has sounded a serious alarm about the growing menace of online betting in India, after witnessing a client lose Rs 18 lakh in just six months. The loss didn’t occur through stock markets or crypto investments, but through online betting apps an increasingly dangerous digital trap affecting thousands across the country.
Abhishek Kumar, founder of SahajMoney, shared the story on LinkedIn to raise awareness. His client, a working professional, initially began with small bets “just for fun,” but soon spiraled into addiction. To hide the growing financial mess, the client borrowed money from friends and took personal loans eventually losing Rs 18 lakh before his wife found out. “The stress? Unbearable,” Kumar wrote, noting how secrecy, guilt, and financial strain have broken families.
Kumar explains that betting apps are designed like digital slot machines filled with flashy visuals, instant rewards, and constant alerts engineered to deliver dopamine hits. “Just Rs 500 for fun” turns into an endless cycle of losses masked by occasional wins. He describes the pattern as frighteningly consistent: initial excitement leads to irrational risk-taking, borrowing money, hiding expenses, and emotional breakdowns.
Many of these apps are disguised as fantasy sports platforms or “legal” gaming experiences. But the reality is far more complex. “Casino psychology is embedded deep into the design near wins, fake bonuses, constant nudges to keep playing,” Kumar warns. Even young, well-paid professionals in the IT industry are falling prey to these apps, lured by the illusion of quick gains.
The damage goes beyond just financial ruin. Users begin skipping loan EMIs, withdrawing from provident funds, and lying to their partners. The social cost includes broken trust, anxiety, and even depression. While certain Indian states have attempted regulation, a nationwide policy is still lacking. “The Supreme Court has asked the government whether it’s time for national regulation. I say: it’s long overdue,” Kumar asserted.
His message is clear and direct especially to young people. This is not about being against fun. This is about protecting yourself. If you’re tempted by betting apps pause. Think. You’re not playing a game. You’re playing against a system designed for you to lose. As betting apps continue to surge in popularity, this cautionary tale serves as a powerful wake-up call to both users and lawmakers.
