The apps offer higher returns on outcomes that are less likely, essentially luring users to put money at a greater risk, he added. \u201cIt does not matter how many users won or lost, the odds are set such that the betting platform will always end up making huge gains, \u201c he said. Eight of the 12 betting app users Scroll spoke to said that they made losses more than Rs 50,000 at some point. At one point, Rishabh along with a friend, operated close to 50 profiles on betting apps registered under different email IDs to be able to improve his chances of winning. Rishabh made some modest winnings on fantasy team apps, but soon shifted to platforms that allow betting on the outcome of matches as they offered higher returns. The users would get points based on the performance of the players they picked, and the prize money generated from the entry fee of users would get divided among them on the basis of a percentile score.<\/p>\n
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Join leaders & experts for roundtables, conferences, panels and discussions Business leaders sharing their insights Department of Biotechnology, Ministry of Science and Technology, Government of India, invites application for award of “DBT-Junior Research Fellowship” (DBT-JRF) for pursuing research in frontier areas of Biotechnology and Life Sciences.<\/p>\n
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