As Indians and GenZ splurge over ₹1,000 crore on astrology apps and online gaming platforms rake in massive profits, experts warn that disciplined financial planning is being sidelined in favor of instant predictions and entertainment.
Gurmeet Chadha, Managing Partner & CIO at Compcircle, highlighted this imbalance in a post on Twitter (Now X). “Dream11, My11Circle & other gaming apps made ₹30,000 crore. Astrology apps did over ₹1,000 crore. Yet only 5 crore Indians do SIPs. Imagine the potential,” he wrote, stressing how tech-savvy GenZ chase predictions instead of building financial futures.
What Statistics Says on GenZ
Fresh data from the Association of Mutual Funds in India (AMFI) reveals that monthly SIP contributions hit an all-time high of ₹26,632 crore in April 2025, marking a 3% rise from March.
However, the SIP stoppage ratio also surged to 75.63% for FY25, indicating that investors discontinued 514.17 lakh SIPs even as they registered 679.85 lakh new ones.
Worryingly, since January, more SIPs have been closed than opened a trend reversal not seen in over two years. Experts link this with shifting investor sentiment and the lure of quick money via online gaming and prediction platforms.
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Chadha added, “We want to predict our future daily, but avoid building it long-term.” He also advocated for an alternative SIP a voluntary monthly contribution to the National Defence Fund emphasizing the importance of securing the nation before securing returns.
Despite this, India’s mutual fund ecosystem is growing. The number of mutual fund folios rose to 23.62 crore in April, up from 23.45 crore in March, indicating interest still exists but long-term commitment remains fragile.
Why we should be concerned
India is witnessing a sharp surge in illegal betting and gambling activity, with over 1.6 billion visits to such platforms recorded in just three months. A recent analysis shows that nearly 70% of sports betting apps operating in the country lack proper encryption protocols, putting millions of users at risk of data breaches and financial fraud. With young users forming the majority of the audience, the cybersecurity gap poses a serious threat. The ₹40,000 crore Mahadev Betting App scandal underscores the scale of the issue, revealing how weak digital safeguards can fuel massive money laundering operations under the guise of entertainment.
About the author – Ayush Chaurasia is a postgraduate student passionate about cybersecurity, threat hunting, and global affairs. He explores the intersection of technology, psychology, national security, and geopolitics through insightful writing.
