Analysis
The famously cautious Indians have displayed a relish for taking chances in recent years, parting with their money on a variety of apps. Consider the stampede to buy overpriced assets like crypto in the first 18 months of Covid-19 and the runaway popularity of fantasy sports, now a Rs 34,600-crore industry (FY21).
The exponents of these segments, especially fantasy leagues, insist that gains for individuals depend on a combination of knowledge, skill and timing — not luck. That argument, endorsed by courts, helps them block comparisons with nettlesome, not to mention wildly risky, activities such as online gambling.
These fine distinctions, though, make no odds to a large base of mobile users waiting to invest in the next big, unconventional idea. A clutch of startups is now counting on this enthusiasm to lay the foundations of a new prediction market in India.
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