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It's genuienly frightening, how many of my hostel and college mates do gambling through these apps. Like this is how life destroyer sow it's seeds. As for your question, it's because of our education system and our society, the rich and educated knows how to manage and grow their money but poor and uneducated does not, now they see these "stars" pormoting get rich schemes( for legal reasons this is no financial advice and is just a joke) so they get on the train.

Dream 11 provides instant gratification and dopamine hits. Mutual Funds are more of a long game.

It is just clear signs of an underdeveloped country

Risk to reward ratio and it's easy. Same is the case with lottery tickets

Lack of awareness.

Lazy to understand and research fundamental of long term wealth

Simple really they enjoy cricket and investing not

I believe more people know and are aware about cricket from a very young age. They are much more knowledgeable about cricket, but not so much about mutual funds. Also, mutual funds are usually stigmatized among average Indian.

* Instant money * Good marketing * Greed to get big cash prize with no or minimal efforts

Cricket is in their blood and doing few past record check of player and pitch conditions and bet on intuition is much more easy than understanding the concept of complex money and its values. Imp note: getting to know about money since early days is very important, so that it doesn't feel like its only the game of rich players.

Stock investing is a long term process to see any realised gains and also requires significant capital. Dream 11 can start with 50 rs.

Cricket is entertaining and also connected with emotions of Indians..they see cricket analysis as a fun activity while they research on Mutual funds is Experts things that's why they spent more time on Dream 11 like platform.. Also advertisment play crucial role!

These numbers are inflated because many people handle multiple accounts

People want instant money

People want instant money. Also platform such as Dream 11 promise big prize winning opportunity with very less efforts. On the other hand mutual funds, people find complex it to understand also return on investment is in future.

People are too much interested to become bikari rather than generating wealth.

I also want to make money like this but the real problem is I am a middle class boy So actually those the middle class persons who choses make fast money he got trapped in this type of addition if I can understand it properly I can also make money from this type of people's

Power of marketing

Interesting numbers.

Hook line and sinker. Hook - usually starts at college or school where you got a lot of time and less money. It's also something everyone loves CRICKET. Line - some occasional profits and a bit of FOMO from friends and it sticks Sinker - once you got the habit it's hard to let go off. Besides you either would've got better at game or you're willing to lose a bit of money for fun. Whereas Mutual Funds don't have this kind of product and playful theme