A senior distributor talking to M9 News made an interesting observation about why Summer ceased to be a Season for film releases.
“Many think it is the IPL watching habit that destroyed the Summer Season for films. It is the only betting that is the real villain. People became habituated to online betting apps. They are playing and losing big money. This is destroying families,” he said.
That is the penetration of the Online Betting Apps even into the Villages.
To fund this habit, the youth are resorting to Loan Apps that fleece customers with the highest interest rates. It is mayhem out there.
It is not just the sports betting apps; opinion trading apps are flooding mobile phones.
Opinion trading apps are nothing but prediction markets. This is a relatively new concept to India in which users are allowed to place bets on the outcomes of future events, not restricted to sport alone.
It’s not just betting on Sports, users could also bet on political developments like whether a politician will get a particular post or win an election. These apps can be used to bet on many other outcomes.
While these apps try to market themselves as a game of skill, it is a game of chance and an outright form of gambling.
They also use the terminology of the stock market, such as profits, stop loss, trading, etc, to dupe the people as if they happen under SEBI’s control.
Recently, SEBI issued a circular saying that it has nothing to do with these Apps.
Gullible youth are falling into the trap of these apps and are destroying their future, and are pushing their families into debt traps.
The habit of Gambling combined with the dangerous loan apps is going to be horrifying. ‘
The Tamil Nadu Government is dealing with these Apps with an iron fist. Many of these apps are banned in Tamil Nadu. Some Apps have voluntarily pulled themselves out of the state fearing cases. Some Apps have Geofencing (location restriction) for users in Tamil Nadu.
The Punjab Government has also banned many such apps.
It’s time the Andhra Pradesh Government takes note of this menace. Strict regulations can muzzle them big time.
A young leader like Nara Lokesh focusing on curbing this menace and doing awareness campaigns on the dangers of these online betting apps will do a hell lot of good to society.
It would also be a welcome change if the Government did some advertising about an important issue like this and promoted it extensively.
The Ad should be bombarded everywhere – on TV, on OTT Apps, and in Film Theaters.
Such an initiative will not only save the lives of many young people but also save many families from getting ruined.
Even though it is not the goal, a positive initiative like this will also get so much political capital.
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