For millions of Indians, cricket is more than a sport. It’s an emotion, it’s a conversation piece, and it’s a reason for friends and family to get together. But with the rise of fantasy sports and online betting, watching a match can also be an opportunity to make money. What starts as a fairly harmless attempt to predict who’s going to perform well can quickly develop into a habit of spending money. Over time, it may also involve chasing losses and finding it very difficult to stop.
Picture a student at university downloading a fantasy sports app in the middle of the IPL. He starts off just playing around with mates, getting involved in the contests for the fun of it. He looks at the players, he looks at the stats, and he enjoys the competition. One day he wins a bit of money, and from that point on he starts to get more involved. When he loses, he tells himself he just needs a better strategy.
It goes from being a few minutes of his time to something that is starting to have an impact on his bank balance, his sleep and his studies. This is a very real situation and one that we all face at some point. Getting involved in fantasy football does not necessarily mean that someone has a gambling problem. Similarly, participating in a few rounds of play does not mean that everyone will develop a gambling disorder. The problem arises when you combine real money, the emotional highs and lows and the instant access to your phone via the internet.
A systematic review by Richard and King (2023) examined gambling behaviour from childhood into young adulthood. The review found clear links between modern gambling options, such as online sports betting and fantasy games, and problematic gambling. Traits such as impulsivity, a need for excitement and the various mental tricks we play on ourselves all increase our vulnerability. The take-home message is to look beyond what they are playing and to look at what is keeping them playing.
Fantasy Sports or Gambling? Where do we draw the line?
If you’re a cricket fan, you’ll know all the details about your players – their latest scores, their averages, how they play against certain bowlers, etc. That level of detail can make the game of prediction very enjoyable. Cricket is, of course, incredibly unpredictable. For example, a player getting injured, the weather taking a turn, or simply having an off day can all have a massive impact on the outcome.
Balhara, Gulati and Rajguru (2024) looked at this very dynamic in a study of 297 college students in India. They found that around 20% of the students had tried fantasy sports and around 18% had gambled. Of those who had lost money in fantasy sports, the majority played much more frequently. Those who got involved primarily to make money saw fantasy sports as essentially the same as online gambling. The study was conducted at a single college, so of course it doesn’t represent the whole of young India.
It does, however, point to a very fundamental truth – the reason you play will determine the entire nature of your experience. Playing in a free league to get on with your mates is a completely different proposition from constantly paying entry fees in the hope of making a profit. The game on the screen may be the same. However, what you bring to it, such as your motivations, expectations, and level of risk, can make all the difference.
The Psychology of Winning: Why Do We Keep Returning to It?
There is a great thrill in winning, which gives rise to a feeling of satisfaction and a sense of achievement. If an action results in a win, the brain then reinforces that behaviour and thus promotes it being repeated. For example, a student who takes part in five paid competitions but only wins one will more strongly recall the excitement of that victory than the disappointment of the four defeats. This is a case of intermittent reinforcement, since occasional rewards lead to continued participation even in the face of repeated losses.
Gambling behaviour can also result in cognitive distortions, with people misinterpreting information or exaggerating their chances of succeeding. Goodie and Fortune (2013), in their review of problematic gambling, examined such modes of thinking. A common distortion is the illusion of control, which is the belief that by understanding cricket statistics, trends, and players’ performances, it is possible to predict the outcomes. Although skill and knowledge may help in making some decisions, they cannot remove uncertainty or ensure that winnings will result.
A frequently encountered misconception is the gambler’s fallacy, which is the error of thinking that a win is more likely following a number of losses. People might reason, “Since I’ve lost so much, it’s now my turn to win.” Yet past losses do not automatically raise the chance of winning a subsequent independent event. Such psychological biases can affect even intelligent and practical people, since hope and emotional reasoning may take precedence over sound judgement.
Chasing Losses: When Stopping Becomes Difficult
Suppose a student puts in ₹200 in a competition and ends up losing. In the hope of getting back the money, they then invest an additional ₹500, only for that to end in another loss. At this point, giving up might seem like accepting defeat, while going on gives the allure of being able to make up for the earlier losses. This practice, called chasing losses, turns an originally pleasant activity into a stressful struggle to regain the money one has lost. The desire for a quick recovery can make it more psychologically difficult to accept a loss than to risk additional money.
It can be especially harmful for young people who have limited financial resources. Students might use the money that was meant for food, travel, or books, or they might borrow from friends with the intention of repaying them after their next win. If the expected win does not occur, financial anxiety may then interfere with their friendships, their studies, and their normal daily life.
The behaviour of chasing losses does not necessarily indicate that someone is unintelligent or lacks self-control; instead, intermittent rewards, the illusion of control, the gambler’s fallacy, and the desire to recover losses can all reinforce each other. The main issue is not simply how much money has been lost, but the increasing difficulty of stopping even though there are serious consequences.
Peer Pressure and the Normalisation of Betting
We don’t make choices in a vacuum. The people we know, the people we’re close to, the people in our social circle, have a huge influence on what we perceive as normal and natural. This is particularly true when you’re young, when the need to feel part of the group and to be included is so strong. Think of a group of mates at uni watching an IPL game. Most of them are in fantasy leagues, all going through the motions of their lineups, checking their scores and so on. There’ll be one mate who initially isn’t really into it at all, and they’ll slowly find themselves feeling left out. They don’t suddenly become die-hard gamblers by joining in; they just want to be part of the fun with their friends.
Social media amplifies this effect. Your feed is full of winning screenshots, posts of people celebrating, stories of quick cash wins. What’s completely absent are the quiet losses, the drained savings and the stress. You only see the highlights, so it’s very easy for the young person to walk away with the impression that winning is far easier and far more consistent than it actually is.
Advertising adds another dimension to this. A review of 22 studies by McGrane et al. (2025) found that exposure to sports betting advertising was associated with increased involvement and greater spending. That study was primarily focused on adults in Australia, so we can’t necessarily generalise that to young Indians, but it does point to a clear trend. Sports culture, advertising, and peer groups can all point in the same direction. As a result, the excitement of winning becomes the dominant factor. Meanwhile, the risks that come with it get completely subsumed.
Why might young Indians be vulnerable?
Young adulthood is a time of massive transition. A lot of young people are off to university, starting their first jobs, learning to manage their own money and trying to work out who they want to be. Throw on top of that the pressure of academics, the anxiety about the future and the everyday stress of money and the prospect of quick money can be very alluring.
Picture a student in the middle of studying for competitive exams, hearing their friends all talking about how much they’ve won. If they’re feeling a bit stuck or are concerned about money, then a quick win can be very appealing indeed in the form of a bit of excitement or a little respite from the day-to-day. It’s important to be clear, though, that not every young person participates for the money. Similarly, being young in India doesn’t necessarily mean you will be susceptible to it.
As Richard and King (2023) note, all sorts of things can be at play in problem gambling (acting on impulse, seeking out thrills, cognitive tricks, emotional issues, etc.). They don’t, however, mean that someone is going to have a problem. They just tell us that different people will respond to the same situation in their own particular way. Someone who has a real difficulty in pausing might find it very hard to walk away when the excitement is at its peak. Another person going through a difficult time might simply use gambling as a temporary distraction.
A third person might start just for the fun of it and then find themselves in a position where they’re trying to get back what they’ve lost. The same app can, of course, lead to very different experiences for different people. It’s also important to distinguish between losing money and having an addiction. You can lose money without having an addiction, and you can have a very strong compulsion before you’ve actually lost any money at all. When you appreciate these nuances, you can move away from the tendency to blame the individual and towards a little more empathy for the actual psychological and environmental factors that are at work.
Recognising When Participation Becomes a Problem
The fact that someone takes part in fantasy football or joins a paid competition does not by itself mean that they have a problem. Such behaviour becomes a concern only when the person cannot stop or take a break, even when they want to. Additionally, it becomes concerning when the behaviour starts to affect their well-being and interfere with their everyday life. They may initially check the scores from time to time. However, they may later become overly focused on keeping track of all the games. As a result, they may spend time looking after their team that they would otherwise use for studying. They may also feel anxious or irritable when they cannot take part. Additionally, they may borrow money to pay the entry fees or conceal their losses from the people they care about.
The fact that these changes are occurring should serve as an important warning that the activity may have stopped being mere harmless entertainment. Gambling disorder is an officially recognised condition within the field of mental health. In this context, Grant, Odlaug and Chamberlain (2017) examine the process of assessing the disorder. They also discuss the question of its severity. Yet that does not mean everyone who shows concerning behaviour fully satisfies the criteria for a clinical diagnosis.
Important warning signs include repeated failures to stop and a growing level of preoccupation. Additionally, taking out loans to keep going and hiding losses are also concerning signs. Furthermore, ignoring studies or other duties may indicate a problem. Finally, continuing despite financial or emotional damage is another important warning sign. Some people may be drawn to the idea of achieving quick financial success. Additionally, others may be attracted to the excitement of taking risks. However, these factors alone do not prove the presence of a gambling disorder. What is important is the pattern of behaviour, the loss of control and the harm it causes.
What Can We Do?
- Tackling the harm associated with gambling involves more than just asking young people to exercise self-control; it requires a supportive environment to be provided by families, educational institutions, digital platforms and accessible mental health services.
- In schools and universities, financial and psychological literacy should enable young people to understand probability, risk, misleading advertising, and the cognitive biases that can lead them to keep on taking part.
- Families ought to establish a non-judgmental atmosphere so that young people can talk about money, admit their losses and ask for advice without being afraid of being humiliated or blamed.
- When designing digital platforms, both the platforms and the policymakers concerned should ensure that there are clear disclosures regarding risks, impose suitable spending limits, provide easy access to self-exclusion facilities, and put in place measures to prevent excessive participation.
- If you or someone you care about feels overwhelmed, compassionate help is always available. India’s Tele-MANAS helpline (14416) offers free, confidential mental health support 24/7, connecting you with caring professionals whenever you need a listening ear or guidance.
Conclusion: Beyond the Game
Fantasy sports and sports betting are at the very heart of fun, technology, money and our own human nature. Given how easy it is to get into these these days, we can’t just ask the simple question of whether someone should or shouldn’t play. We need to look at what’s actually going on underneath the surface as well. Why does a win feel so good? Why does a loss make you want to keep going? How does your social circle affect your perception of risk? And why is it so difficult to walk away when the strain is starting to show?
When a young person is persisting in an effort to get back what they’ve lost, they’re often after something far more than just the money. They may be seeking a sense of control. Additionally, they may be trying to get over a letdown. Alternatively, they may simply be trying to prove to themselves that they can turn things around. This does not excuse risky behaviour. However, it allows you to approach people with empathy rather than judgement. You also can’t go and assume that every single person who plays is in some kind of addiction. Knowing there’s risk doesn’t mean that.
Perhaps the most important question we can ask ourselves is this: something that began as pure fun is now demanding our money, time, relationships and peace of mind. At this point, are we still doing it of our own free will? The real issue at the heart of it is how we deal with uncertainty. Additionally, it involves how we deal with the outcome of a match, whether a win or a loss. Most importantly, it raises the question of whether we can recognise when the fun of winning starts to cost us more than we ever intended to.
References +
- Balhara, Y. P. S., Gulati, D. D. K., & Rajguru, A. J. (2024). Fantasy Sports as Gaming or Gambling? Perception, Attitudes, and Engagement Behaviour of College Students. Indian Journal of Psychological Medicine, 46(1), 60–65. DOI: 10.1177/02537176231207994
- Richard, J., & King, S. M. (2023). Annual Research Review: Emergence of problem gambling from childhood to emerging adulthood: A systematic review. Journal of Child Psychology and Psychiatry, 64(4), 645–688. DOI: 10.1111/jcpp.13713
- Goodie, A. S., & Fortune, E. E. (2013). Measuring cognitive distortions in pathological gambling: Review and meta-analyses. Psychology of Addictive Behaviours, 27(3), 730–743. DOI: 10.1037/a0031892
- McGrane, E., et al. (2025). What is the impact of sports-related gambling advertising on gambling behaviour? A systematic review. Addiction, 120(4), 589–607. DOI: 10.1111/add.16761
- Grant, J. E., Odlaug, B. L., & Chamberlain, S. R. (2017). Gambling disorder, DSM-5 criteria and symptom severity. Comprehensive Psychiatry, 75, 1–5. DOI: 10.1016/j.comppsych.2017.02.006
- Ladouceur, R., Sylvain, C., Letarte, H., Giroux, I., & Jacques, C. (1998). Cognitive treatment of pathological gamblers. Behaviour Research and Therapy, 36(12), 1111–1119. DOI: 10.1016/S0005-7967(98)00086-2
- Dowling, N. A., et al. (2017). Early risk and protective factors for problem gambling: A systematic review and meta-analysis of longitudinal studies. Clinical Psychology Review, 51, 109–124. DOI: 10.1016/j.cpr.2016.10.008
- Shaygan, A., et al. (2024). More than fun and games: Problematic sports betting and its adverse impact on mental health and well-being in young adults. Psychiatry Research, 342, 116258. DOI: 10.1016/j.psychres.2024.116258
- Shen, Y. (2023). Determinants of problem sports betting among college students: Moderating roles of betting frequency and impulsive betting tendency. BMC Psychology, 11, 352. DOI: 10.1186/s40359-023-01387-w
- Balhara, Y. P. S., Kukreja, S., & Rajguru, A. J. (2025). Gambling Risk Potential of Fantasy Sports: Observations from an Exploratory Study Among Treatment-seeking Patients with Substance Use Disorders with Engagement in Gambling. Indian Journal of Psychological Medicine, 47(1), 95–96. DOI: 10.1177/02537176241252362
