In the second half of 2022 the number of demat accounts crossed the 10-crore mark in August 2022 for the first time ever, this was from a base of 4.1 crore in March 2020, before the COVID-19 outbreak.
Just when we were celebrating the number of demat account openings we realised that actually the number of demat accounts opened was in 3rd place behind more so-called existing platforms like Dream 11 and also number of crypto users.
In fact both the number of demat accounts and Dream 11 accounts have both tripled since 2019 but Dream 11 growth came off a higher base. From 2015 the number of Dream 11 accounts has gone up by more than 500 times on a base of 3 lakh users.
What could be the possible reasons for this surge in online gaming users?
a. Instant Gratification for Insta Reels generation
For one, when you play fantasy cricket, hockey, football etc there are instant results and you don’t have to wait for many days, weeks, months or years.
b. Gamification vs hardcore research
Gamification obviously has a greater fun quotient while investing in stock markets requires intense reading and study of financial accounts.
c. Most could be non-wagers in gaming
Though the numbers in online gaming users are large, a large proportion of this could possibly be non-wagers, which essentially means no money transaction is involved.
d. others
Easier account opening formalities in Dream 11 in comparison to KYC needed for demat accounts and also the belief that everyone wants to get rich quickly.
For more details, watch the accompanying video
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