Sports betting is the circumstantial existence of sports. According to historians, ancient Rome has the first recorded history of legitimate sports betting especially when it comes to Chariot races and Gladiator fights. Since then, the world has witnessed the invention of new sports, diversifying sports betting and challenging the ethicality of Sports itself.
Defining legit and unlawful Sports betting
Sports betting can be defined as the act of investing or waging money on a sports team or an individual player with one’s own analysis and understanding of that particular sport. This is a form of slot Gambling which becomes legit when the government or the authority allows the Bettors to wage their money and illegitimate when it’s done in secrecy as you are not allowed by the authorities to do so.
Sports Gambling in modern times
The Sport waging business generates billions of dollars every year and the internet has taken this business to yet another level. These days online betting is the trend where people or individuals who wage money online, don’t really care about the legitimacy of the whole setup.
The major sports attracting slot Gambling are: Horse racing, football, basketball, Cricket, boxing etc., bettors usually place their wage through authorized bookmakers (organizations that acts as broker) or sometimes illegal private enterprises too. These organizations take a sum of the money waged and they bet the remaining amount where at the end of the sport the winner if lucky can gamble up to millions.
Ethical concerns and prohibition
The Gambling act in sports has exposed the ethical vulnerabilities. Sometimes a betting scandal can end the life of a sportsperson and raises questions about the value and objectives of sports itself. Hence many countries have prohibited betting on sports, then there are few countries which have allowed betting on few selected sports. Countries like UK, Japan, France and few other allow regulated betting and have not criminalized betting. In India only two states I.e., Goa and Sikkim allow online gambling on sports otherwise strict actions can be taken against people who involve in such practices.
So, is sports gambling Legit…?
There is no definite answer but depends upon where you are betting. Still in most countries only few sports provide gambling leverage and most of the professional sports cannot be waged upon citing legal restrictions. The online black market on dark web houses the world’s most illegal professional sports gamblers and sports authorities are often challenged to protect the values imbibed in sports and altogether the legitimacy of the players and the sports.