Dangers of online betting

In recent times, the new generation has become heavily engaged with digital cryptocurrency and various online betting platforms like 1XBet and Exness. Primarily, they use Binance to transfer funds into their betting accounts. To deposit funds into Binance accounts, users utilise digital MFS (Mobile Financial Services) accounts in the country, such as Bkash, Nagad, and Rocket.
Digital cryptocurrencies have many side effects. Bettors often view these betting platforms as a means to achieve financial independence. In the crypto market, many people aged 18-30 in our country are becoming dependent on and losing their assets in this market. More than 90 per cent of participants in this market end up losing. The market is filled with influencers who make grand promises, enticing Gen-Z and Millennials to get involved. These young people often dream of achieving success similar to these influencers, believing they can earn a lot of money from the market, but this rarely happens.
Nowadays, people from every town and city are getting involved with these platforms. People from rural areas, in particular, are becoming greedy due to the heavy promotions from these platforms, and in the end, everyone is losing their capital. Many people are even losing their lives due to the mental pressure of accumulating huge debts. Therefore, online betting is currently taking many lives in our country. The major challenges here are inflation and unemployment, leading jobless individuals to become heavily involved with these platforms.
Abdullah-al-noman,
Student of BBA
North South University
[email protected]