Betting or “gambling” is described as an activity which involves two parties on either side, each betting (with a certain amount of value or money) on their desired outcome where the chances of either of them happening are equal. For example, the chances of a “head” or a “tail” occurring when the coin is flipped in the air.
While betting is used without any legal element attached to it, however, gambling is often used in a negative context as most countries have a complete prohibition on gambling or have restricted approval.
The nature of betting online:
Off late, online betting has picked up profoundly as it conveniently allows the operator to remain discreet or from getting traced. Online betting world over is observed during important events, such as elections of presidents, whether Britain will vote for Brexit. In India, just as in rest of the world online Betting is active during sports, especially during cricket matches such as world cup, T20 and prominently the IPL. Even elections in India are a major betting event.
Online betting with its parallel offline betting is a thriving commercial activity and In the USA alone the betting Industry is estimated to be worth 7 to 8 billion US dollars. This very fact has led to transitioning of many leisure sports activities such as snooker, playing cards and Horse racing to name a few, into an online betting platform, in which, people from all over the world participate.
Is it completely legal?
Talking about the laws or legality of betting of SBOBET365 Sports, some countries have regulations in place, while betting is often seen an immoral activity often in opposition to religious virtues, nations that prohibit betting do it mostly due to considerations for law and order and crime control not majorly due to religious reasons.
However, this could be very well argued on two counts, first, as much as an Individual enjoys his liberty in a democratic nation, these are restricted according to the “reasons”the nation deems fit, also prevention and control of crime is primary duty of any elected government and there are high chances that the money earned by the gambling companies could be very well used for terror funding and smuggling of arms and drugs.
The final conclusion:
It could be concluded that while betting has been a historic part of every civilization, but when the same activity can pose an imminent threat to world peace and harmony and also result in moral turpitude of individuals involved, its best to ensure they are strictly regulated, if not completely banned.