Of false dreams and fantasy jackpots

The press and social media are questioning the wisdom of the real money gaming ban.

- SANDEEP GOYAL

Argument No. 1 being proffered is that a recent report from the Securities and Exchange Board of India (Sebi) found that 93 percent of individual traders in the equity futures & options (F&O) segment incurred losses between financial year 2021-22 and 2023-24, with aggregate losses exceeding ₹1.8 trillion over the three years. Only 7.2 percent of traders made a profit, and just 1 percent of them earned more than ₹1 lakh in profit after accounting for costs. The study also noted that many traders, particularly young and new investors, continue to trade despite significant losses, highlighting the speculative nature and high risk of the F&O market.