Betting on sports has become very usual nowadays. And with the advent of the Indian Premier League, betting has increased significantly in the past few years. Even though betting is legal in the US, there are no such laws that make it legal or illegal in India. Sports betting is not only limited to cricket but also football, hockey, baseball, basketball, and a lot more.
Betting: Legal or Illegal?
People still wonder if its legal to bet on games. So, technically speaking, it’s Yes and No. If you are a recreational gambler, then it’s well and good. But if you are operating illegally(not licensed) and attempt to bribe players or alter the game course in any way, you will be arrested if caught by the authorities.
Since no laws are saying that Sports betting is illegal in India, if you are betting on the internet and under licensed bookie, there is probably very little to no chance that you will get into any trouble.
Why do people bet on Sports?
Human psychology shows that betting on sports is related to the adrenaline rush that it brings with it. The release of dopamine when the team that one bet on is playing well is what gamblers get addicted to. Its often said that if someone starts betting, they can’t stop if they win. And it somewhat becomes a compulsion for them to bet on every game.
Though betting and gambling can become a severe issue for people, a small mass of individuals doesn’t get addicted to the same and are just casual betters. They are there to enjoy a race or a game, and when they see other people gambling, they try out their luck.
Can Sports betting make you rich?
If I have to answer the question in one word, then yes, betting can make you rich. But, the chances of you becoming a millionaire by betting on sports in pretty slim. Research shows that even if someone wins a considerable amount of gambling on sports, the entire experience that it brings makes you bet even more. And as we discussed above, the dopamine addiction makes it a never-ending cycle.
The world of Sports betting is huge and also very addictive at the same time. But the critical thing to note is that its best for us to enjoy a sport as a sport and not as a medium to earn a quick buck. Most of the time, you lose money, and to cover up the losses end up losing even more. Even worse, you win a few times and get addicted to the rush and then lose everything. So, its always recommended to stay away from betting.
So, yes, if you are thinking about betting on IPL matches this season, think twice before you do it. If you agree with my view on sports betting, do like and share it with your friends. And if you don’t, let me know your point of view in the comments below.