It is the IPL season, and fans are ecstatic. They root for their favourite teams, discuss their gameplay amongst themselves, and bet on it. Whatever be the amount, sports betting is one of the top sources of entertainment for sports enthusiasts. Though live sports are fun and full of entertainment, a wager can amp up things even more.
What are sports betting, and is it illegal?
If one goes by the textbook definition, predicting sports outcomes and making a wager on the result is known as sports betting. Horse racing is a common sport where betting takes place. It is a rapidly growing industry worldwide, especially in America, where legal 918kiss betting is worth $55 billion, with the illegal sports gambling market going up to $150 billion.
Now, the big question that arises: Is it legal? Mostly yes, in many parts of the world but India, it’s looked down upon by the government, and therefore illegal. But people have found a way to go around this law by placing bets on online betting sites operated abroad since betting in the country is unlawful. Still, as these websites are situated outside the country, it makes them legal.
Scandals in sports betting.
Though betting in sports can seem like a seemingly harmless way to have fun and, in a way, support your favourite team, it has resulted in some big scandals as well.
One of the most famous betting scandals was the Black Sox Scandal. In the 1919 World Series, the Chicago White Sox faced the Cincinnati Reds. According to legend, professional gambler Joseph Sullivan paid each of the White Sox’s eight players about $10,000 to rig the World Series. As a result, these eight players were barred from playing professional baseball for the remainder of their careers.
Due to numerous match fixings and similar rigs, sports federations such as ICC have placed ‘blanket bans’ on the following activities:
- Any match-fixing, even spot-fixing, whether attempted or completed.
- Trying to rig a match or an event within a game by seeking, proposing, receiving, or agreeing to take a bribe.
- Inside intelligence that may be used for betting purposes, etc.
In conclusion, betting requires a specific skill set and knowledge of the sports, and many professional sports bettors study the market and various other statistics surrounding their preferred sport. However, it is a fun activity as long as it is conducted lawfully and doesn’t deteriorate one’s net worth.