Hyderabad, Feb 21: What begins as a harmless attempt to earn quick money is increasingly turning into a financial and emotional nightmare for young professionals and students, as addiction to online gambling and high-risk trading platforms surges, mental health experts say.
Psychologists and psychiatrists in Hyderabad report a sharp rise — nearly three to four times in recent months — in the number of people aged between 20 and 35 seeking help for compulsive betting on mobile apps and speculative trading in derivatives.
Many of those affected are college students or early-career tech professionals earning sizeable salaries. Yet despite incomes running into lakhs per month, some have accumulated staggering debts — in extreme cases amounting to crores of rupees.
A 28-year-old software engineer said he lost around Rs 70 lakh over the past two years through online gambling. Drawing a monthly salary of nearly Rs 3 lakh, he initially concealed his losses by telling his parents he was investing in fixed deposits and systematic investment plans to save for a home.
“My parents were proud of me. Now, even if I am just browsing on my phone, they think I am gambling. I feel constantly monitored and suffocated,” he said. His family sought psychiatric help after friends informed them he had begun borrowing heavily and was slipping into depression.
In another case, a 30-year-old tech professional accumulated debts of Rs 1.5 crore after engaging in futures and options trading alongside online betting. The mounting stress and obsession with tracking trades affected his performance at work, ultimately costing him his job. He has since found new employment and says he is trying to rebuild his life.
Students are also being drawn into the cycle, often lured by the promise of easy money. A 20-year-old student said she discovered her boyfriend’s secret gambling habit after noticing lavish spending that did not match his family’s modest background. “He started failing exams and seemed constantly distracted. Eventually, he admitted he was gambling online,” she said.
Devika Rani, a psychologist, said many of those seeking treatment come from middle and upper middle class families. “The attraction is the idea of quick and easy money. Peer influence and social media play a significant role in normalising it,” she said.
Neuropsychiatrist Charan Teja Koganti pointed to the easy availability of betting and trading apps on smartphones as a key trigger. “It starts as something that feels harmless and accessible. But before they realise it, they are addicted and struggling to stop,” he said.
Experts note that the addiction often brings a mix of anxiety, depression, sleep disorders and strained family relationships. Shame and secrecy frequently delay intervention until financial losses become severe.
Mental health professionals say counselling, behavioural therapy and, in some cases, medication are helping many recover. However, they stress the need for greater awareness among families and educational institutions about the risks of online gambling and speculative trading.
As digital platforms make high-risk financial activity just a click away, experts warn that without timely intervention and stronger safeguards, more young lives could be pushed into a spiral of debt and distress.
