From Rs 3L salaries to crores in debt: Young techies trapped in online gambling spiral
Young tech professionals in Hyderabad are falling into debt due to online gambling and high-risk trading, seeking mental health support.Summary
A growing number of young tech professionals and students in Hyderabad are becoming addicted to online gambling and speculative trading, leading to significant financial and emotional consequences. Many, earning around Rs 3 lakh per month, are losing substantial amounts – ranging from lakhs to crores of rupees – through mobile betting apps and trading platforms. This often results in job loss, depleted savings, and mounting debt. Families are often unaware of the extent of the problem until significant financial damage has occurred, leading to strained relationships and increased monitoring. Psychologists and psychiatrists report a three to four-fold increase in cases seeking help, attributing the rise to easy mobile access and the allure of quick money, with peer influence also playing a role. Treatment involves counseling and, in some cases, medication, to help individuals recover and rebuild their lives.
(Source：Times of India)