In the last few years, the sports betting market has really seen a big boom. Especially after a Supreme Court decision declared the Professional and Amateur Sports Protection Act unconstitutional in 2018 in the United States. Since then, hundreds of new sportsbooks have popped up, hoping to capitalize on this new billion-dollar opportunity.
But is this a good thing?
Generally, gambling as a whole is usually represented in a very negative way. Either people focus on how gambling addiction can ruin lives, or they focus on how gambling can affect the authenticity of sports – i.e., rigged games.
However, sports betting can be a very exciting and fun hobby. Placing a wager on a sports game you actually care about can amplify the whole viewing experience. Also, if you develop a good strategy, you could create a regular stream of income for yourself.
So, is sports betting good or bad for you?
Well, we aim to answer this question below by having a look at all of the pros and cons of sports betting. If you may find yourself interested in betting online on your favorite sports, we also list a bunch of great online gambling sites that you can use to get started.
For and Against Links
Although few like to admit it, there are a lot of individual and community-based advantages associated with legalized sports betting. Here are some of the most noteworthy:
Sports Betting Stimulates Local Economies
Over the last few years, several states in the US have declared sports betting legal. In setting up new sportsbooks within their borders, job creation has increased, leading to lowered unemployment figures.
In addition to job creation, state income has also seen increases through an improved gambling tax revenue stream. States often use these funds in areas that aren’t related to gambling. For example, schools and public transport initiatives.
You Can Make Money
Nobody should ever start gambling with the idea that it is a great source of revenue. It isn’t; however, the fact remains that you can make money with sports betting.
Sports betting is also a form of betting where you can at least take calculated risks. Although there is no such thing as a sure bet, expert handicappers use effective strategies to lower the odds. Often, they walk away from a gambling session with profits rather than losses.
If you put the time and effort into learning tricks of the trade, you could also one day work towards becoming a professional sports bettor. Also, if you are good with math, we strongly recommend that you consider getting involved with sports betting because it really is just a numbers game.
It’s entertaining to bet on your favorite sports for two major reasons. Firstly, you get to prove to everyone around you that you are not just an armchair quarterback, and you really do know what you are speaking about. Winning a bet – especially an obscure prediction – is just validation that you know your stuff.
Secondly, when you’ve got money on a game, it just becomes so much more exciting. If you thought sports was breath-taking before, wait until you’re watching a game in which the result could win you thousands of dollars. It is what heart attacks are made of!
Loads of Betting Options
Most online sportsbooks allow you to bet on 20+ sports. There is always a game to bet on. However, we don’t recommend that you bet on sports that you don’t know anything about.
All we are saying is that once the football season is over, there will be a chance to bet on baseball. Quite simply, you are never short of options and opportunities but use them wisely!
Unfortunately, everything that has got pros has also got some cons. If there were no downsides to sports betting, there wouldn’t have been regulations banning it in the first place. So, here are some of the downsides associated with sports betting:
You Could Lose Money
There is no such thing as a sure bet unless a game has been fixed. As such, there is a very real possibility that you could lose money with sports betting. If you are a responsible gambler, this shouldn’t really be an issue as you understand this concept. And, thus, you play with money you can afford to lose.
However, if you don’t, you could risk money you don’t have and find yourself in a very nasty situation afterward. And this brings us on to the next disadvantage of gambling.
Problem Gambling is a Reality
Unfortunately, some gamblers don’t know when to stop. They chase their losses and hurt those around them with their compulsive gambling. Usually, the result of this is that what was initially a small problem becomes a huge problem due to this inability to stop.
A lot of people don’t know that they have addictive personalities until they try something like gambling, and so begins a merry-go-round of pain and despair. If you exhibit problem gambling behavior, seek out help as soon as it becomes apparent.
Increase in Depression and Anxiety
A lot of people aren’t able to stomach losses, which sometimes can lead to depression and anxiety. Unfortunately, suicide rates among gamblers are much higher than the general population for this reason. Especially if you exhibit signs of problem gambling and have begun to take risks you cannot afford.
Again, we urge you to seek out help if you think that you have begun to display symptoms of problem gambling. The aim is to try to stop the issue before it gets worse.
There are many pros and cons of online sports betting, but, ultimately, the decision to gamble rests with you. We think that if you can limit sports betting to a fun hobby that you practice responsibly, similar to an occasional visit to a bar, then you shouldn’t have an issue.
However, if you know that you have an addictive personality and that you won’t be able to let losses go, don’t try gambling. While it is fun, it is not worth the risk and pain that it could bring you and your family.
Finally, if you would like to try online sports betting, we recommend that you have a look at the sportsbooks listed above when you get started. You are guaranteed a variety of lines at the best odds, so your wins will be even sweeter.
Check out our other sports bet guides: