Hyderabad: The lure of quick money is pushing a growing number of youngsters into a dangerous spiral of online gambling and high-risk trading, mental health professionals warn.
Psychologists and psychiatrists say they are witnessing a sharp surge — nearly three to four times in recent months — in students and young professionals seeking help for addiction to online betting apps and speculative trading platforms.
Most of those affected are between 20 and 35 years old, either in college or at the start of their careers. Many land in therapy only after losing jobs, draining savings and piling up massive debts running into lakhs — and in some cases, crores — of rupees.
"I lost Rs 70 lakh in the last couple of years. I will stop gambling online after I recover this amount," a 28-year-old said. The techie was brought to a psychiatrist by his mother after friends alerted her that he was borrowing heavily and slipping into depression. His monthly salary of about Rs 3 lakh, along with lakhs borrowed from friends and lending apps, was funnelled into gambling on multiple mobile apps.
"Initially, I told my parents that I am saving my salary in fixed deposits and SIPs to buy a home, and they were proud of me. Now, even if I am just browsing on the phone, they assume that I am gambling and constantly monitor my activities. I feel suffocated," he added.
No focus at work
In another case, a 30-year-old techie accumulated debts of Rs 1.5 crore after venturing into futures and options trading along with online gambling. The addiction cost him his job as he struggled to focus at work. "Right now, I am trying to rebuild my life. I got another job," he added.
Students, too, are getting drawn in — often to earn pocket money or buy gifts — only to end up battling addiction. "When my boyfriend was showering me with gifts, I thought he was from a well-to-do family. But, after seeing his house and meeting his parents, I realised that he came from a humble background. When I questioned him repeatedly, he confessed that he gambles online," said a 20-year-old. She said her suspicions grew when he began failing exams and remained constantly distracted.
Middle class families
"Many of these youngsters are from middle and upper middle class families. They are attracted by the opportunity to earn quick money and are getting trapped and addicted," said Devika Rani, a psychologist, noting that peer influence plays a significant role.
Neuropsychiatrist Charan Teja Koganti said easy mobile access is a key trigger. "Many are starting as it feels harmless and can be easily accessed. Before they realise, they are getting addicted and finding it hard to come out," he added, pointing out that counselling, along with medication, is helping many recover.
Nirupa Vatyam is an Assistant Editor with The Times of India, whe...
Read MoreNirupa Vatyam is an Assistant Editor with The Times of India, where she covers education, technology, and grassroots issues. Her stories have led to policy action, community development, and support for underprivileged students. She is known for telling powerful, people-driven stories that bring attention to critical issues.
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