Nowadays everyone is looking for quick ways to make money, and they search on the internet for various ways to make money online. There are many apps and websites out there that pay you cash without any investment, but they require patience and time.
Then there are some apps and websites that pay you money but require some investment to earn a profit. I am not talking about any trading or investment apps; I am talking about online gambling apps.
If we talk about gambling apps, then colour trading apps are one of the ways people use to gamble online, and the 91 Club and Tiranga colour trading apps are one of the most popular online colour trading apps on the internet.
But most people don’t know the consequences of using these colour trading websites or apps. Let’s understand the consequences of using colour trading apps and why you should not use these types of apps to earn money online.
Table of Contents
What is a Colour Trading Game?
The colour trading game is basically placing a bet on any random colour, and if that colour comes, you win 2x or 5x of your bet amount. Colour trading games have nothing to do with the term trading, as in trading we analyze stocks and shares and we also know about the chances, that the stock will rise or not.
But in colour trading, we don’t know the probability of when the selected colour will come. In colour trading games, the chances of coming of any colour is totally dependent on the game algorithm, and you can’t do anything about it.
People are earning a decent amount of money by using popular colour trading apps like the 91 Club colour trading app or the Tiranga colour trading app. However, most of the people have reported that they suffered a huge loss and are not able to withdraw their earned money from these colour trading apps.
Because of huge losses, people are often making the wrong decisions. Recently published news on India Today says that a 20-year-old boy in Hyderabad committed suicide because he had lost a huge amount of money on online betting.
According to his father, he had borrowed 3 lakh rupees from his friends for online betting.
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How did these colour trading platforms become famous?
Many influencers and creators are the reason behind the increased popularity of these colour trading websites. These influencers promoted these colour trading apps and targeted students and the young generation.
These creators have an audience who trusts them, and they also trust the platforms they promote on their social accounts. These colour trading platforms got attention from the young generation as they claimed to give an easy, big return on their investment.
People found these apps as a great opportunity to make money online in a short time. These websites spread from person to person as they were providing big commissions for each referral.
The Reality of Colour Trading Games
There are various colour trading websites and apps out there that people are using to make money in a short time. Maybe they have been making money for a long time or even are making money right now from these apps, but most of the users have said that they have earned money from these apps, but only in the beginning, and after that they are only losing money.
These types of apps only pay you money or profit at the start or when you have newly joined their platform to make you hook with their platform.
At the start, they will make you win money, and you will get your selected colour easily. They even don’t deduct your money when you lose at the start, and they also send a bonus amount to you so that you can play the game for free.
They send these bonus amounts to you through their agents, and they also connect you with their agents so they can help you win money at the start, and if you lose, the agent will give you a bonus to play again.
These agents typically use Telegram to connect with you and to help you win the game.
How do these agents help you?
These agents help you to win the colour trading game by telling you the exact colour that will come. But how do they know the exact colour that will come? And if I know the exact colour that will come, then why not place a big amount and big win?
These are some common questions that will come to your mind, and for the answer to these questions, you have to know the reality of these agents that help you win the game.
The Reality of Telegram Agents
So, the reality is that these agents are the moderators of the app or the platform that you are using to play, and they know everything about the algorithm of the game and that’s how they tell you the exact colour that will come so that you can win.
Ok, that’s good but then what’s the problem if I place a bet with a big amount as I already know the exact colour? Actually, the thing is that the agents also tell you the exact amount that you have to bet on the exact colour that they have told you.
And if you place your bet with a bigger amount on that exact colour that the agent told you, you will lose that game. As the agent is the moderator of that game and they know what exactly you are doing on their platform.
They tell you to place a bet with a small amount and make you win just to gain your trust and if you don’t do things according to their instructions you lose.
After helping you win small games, they add you to their main Telegram group where the other app moderators share the exact colour along with the exact bet amount for different game sets. But they share this information only at a specific time.
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The Origin of Colour Trading Games
The origin of these colour trading games was not in India; it started in our neighbouring country, China. Some of the Chinese operators started this scam in India and had their bases in Hyderabad.
Several cyber cases were registered by the users that they were robbed or were not able to withdraw their money after investing. The Hyderabad police started the investigation, and in August 2020 they busted a Rs 1,600 crore colour trading scam and arrested four persons linked with the case.
One of the men was Chinese, named Yah Hao, and the other three were Dheeraj Sarkar, Ankit Kapoor, and Neeraj. (News source: The News Minute).
Venkatesh Vanjaku, a blogger from Andhra Pradesh, said in his blog that there are almost more than thousands of colour trading websites. He also analysed some of the websites and found that the IP addresses of these websites were based in China.
Later he found out that there were more than 2000 colour trading websites having the same Chinese name or IP address.
Consequences of Using Colour Trading Apps
If you are using these apps and are not aware of the consequences, then let’s talk about the consequences of using these apps:
- Your bank account that you are using to receive money from the app may get frozen.
- You may not be able to withdraw your earnings in the future.
- These apps may scam you and may suspend your account in the future.
- You may get involved in illegal trouble.
These app moderators mainly use Telegram to run their scam business, and this is one of the reasons that Telegram has been banned in several countries, as it is now a common hub for scammers to do illegal activities.
If you are thinking of still using these apps, then here’s some news for you. You may have heard about the famous Tiranga colour trading app, and related to that, the Haryana police have arrested two fraudsters who were frauding people with this Tiranga colour trading app.
After investigation, it was revealed that they were promoting this platform through their social media platforms and encouraging people to sign up on the Tiranga platform. They posted fake earning proofs on their social media platform to attract people.
5 lakhs of cash, an iPad, a MacBook, 8 smartphones, and many other items were seized from them. (News source: The Impressive Times).
What to do if Your Money Gets Stuck in These Apps?
If you are not able to withdraw your money or have lost your money on these colour trading apps, here are some things you can do:
- Go to your app payment history and take a screenshot of the money in your wallet that you are not able to withdraw.
- Withdraw all your money from the app if possible.
- Collect the information of the Telegram agents, aka the app moderators.
- With all the proof and information, file a cyber complaint through the 1930 cyber helpline number or file a complaint at your nearest police station.
- Stop referring these apps to your friends and also tell them to stop using them.
Make sure to delete these types of apps from your smartphone, as you may get in trouble shortly.
Conclusion
Stop using these colour trading apps, as they are worse than legal or legit gambling apps or websites. Making money is a long-term process that requires hard work and patience, and there are some ways to make money quickly, but these ways also have some consequences that can cause trouble.