Cred, Google Pay and Casinos- Anything Common?

Just when you think the world could not get murkier I have noticed a new trend in Tech Companies. They have cracked the code which casinos have been deploying sinces ages. They have created sources to give you tiny dopamine shots which lead you to go back to these apps again and again. Don't believe me?



Try this, if you are a cred member you have been getting these push notifications already. They have created a slot machine type reward system. You burn cred coins to win more cred coins but in the long run you loose all the coins. Further your chances of winning are next to impossible inturn they lure you into thinking you have won 40%-50%-70% discount on the products and can use it to purchase the advertised product.

Same thing happens when you use google pay, rewards are dolled out early to making you think that the more you pay the more you can earn and eventually you get trapped into the deady cycle of Reward Hunting. The tech companies are no less vicious than a casino which traps you on their betting lobby by negating natural light, having unlimited music and drinks and giving you the feeling that you are about to beat the odds. 

Cred from being a simple app that gave you rewards on being a good pay master of your credit card bills is now nothing more than a product hosting platform for merchants. We, the gullible consumers keep falling for this trap. The same trick is used by gaming platforms , gaming apps to now trusted apps like Cred. Everyday I hear stories of how youngsters are blowing an entire months paycheck on apps like dream 11, fantacy leagues and many more.


I can preach all day about how its financially unwise to spend even a rupee on such platforms as the odds are always stacked against you. But are there other means to make yourself aware of these traps. Let me start with the principal "There is no such thing as Free Lunch or Dinner". If an app is promising you more than something you have paid for , it is either an addictive drug or it is a fraudulent trap.

We have to also work on understanding what financial discipline actually means. Everyone out there is giving free advice on investing in Mutual Funds, SIP, Stocks and Insurance, however no one is teaching these smaller steps. Buying Fast Fashion, using unnecessary discount codes for buying further useless stuff, it is all a deadly cycle. Have you ever wondered why on weekends you suddenly get the maximum codes for discount from Swiggy? Why its during the first 5 days of your salary do you recieve maximum discounts from any fast fashion online brand portal.


The rush you get when you win these awards is not new. Initially Casinos used the trick now these apps. Obviously asking government to ban them is not the solution but a strict regulation is important. Like in UK they made a law of compulsary 30 second stoppage to slot like apps so that the user can rethink about the choices he is making. Whereas alchohol becomes an addiction after on an average 3 years of abuse, gambling and slot addiction is triggered in a mere one year. 

Covid 19 lockdown has aggravated this problem and online gambling is at its peak. Its high time that we educate the masses on ill effects of such apps.  Until then, hoping my readers become vary of this financial pitfall and avoid this trap.

Will love to hear your thoughts on this. Do comment below.

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