A financial advisor recently watched one of his clients lose Rs 18 lakh in just six months. Not to stocks, not to crypto, but to online betting.
Abhishek Kumar, a Sebi-registered analyst and founder of SahajMoney, shared the story in a LinkedIn post. “One of my clients lost Rs 18 lakhs in 6 months,” he wrote. “Not to stocks. Not to cryptos. To online betting.”
The client kept the losses hidden from his wife until the situation had already spiralled. “He had taken a personal loan, and was borrowing from friends,” Kumar added.
The rise of online betting apps, often disguised as harmless fantasy sports or casino-style games, has created a fast-growing but poorly understood problem in India’s digital economy. Flashy…