With the sounds of trumpets and drums, we begin the IPL season. There is another festival added to this list of Indian festivals. My team will be victorious this time. My team will not be victorious! I’m thinking I should change my team because it doesn’t win. In all these debates and debates, we are excited for this holiday of our own. But wait! A heated discussion is taking place just behind the curtains…the wagering on the sports.
What exactly is betting on sports?
It’s been around for a long time and is essentially a procedure in which we forecast outcomes of game and then place a bet on it. Doesn’t this sound familiar to you? Do you remember playing on the playground at school in the playground and joining in a bargain out of chocolate wafers for the person who lost the game? Then, what was the matter? an informal sports betting was it not? Let’s talk about the subject on a more professional level. It can be described as the act of putting up or risking the money we have invested for a result that is based on our nature. The main question that comes up is will we actually be able to be successful in winning the bet? Perhaps, or perhaps not. What is the reason to take a risk on this. It’s all about that adrenaline rush one feels during the process that makes one believe that I’ll definitely be victorious this time.
What do you think are the odds?
Bets on sports on the betist is carried out in accordance with the performances of the participants in a match. One can argue whether the level of performance can be a factor in sports. As in cricket, in the past five games, the player has made decent runs, but in the next game he is out with the first ball. Oh! The money I put on the team and him is gone. We can see that betting on sports isn’t an easy task, in reality, it’s an exciting rollercoaster. The adrenaline rush and the dependence on this method (or the fraud?) is understandable.
The harsh truths of the world of betting
- The majority of gamblers are losing money over the long term bets on sport.
- The betting on sports isn’t as simple as it seems, there is there is no quick-money scheme.
- To make money here one must be analytical, mathematical and statistical.
- The gut or instinct is not a method of achieving your goals. (hard to accept the reality?)
The way forward
Although it’s illegal however, our country has transformed into a multi-billion dollar business. It’s time to regulate the betting industry as suggested by the Lodha committee in the year 2016.