First, let's deal withgeneral information on sports betting and gambling business. Sports betting is popular across the board. Sports betting is about determining the prediction of sports results through a bet. So you bet on the outcome of a game. The frequency of sports betting varies from country to country. How often you bet is also completely different and probably depends on the culture of the residents. The English betting culture is typical, where in the home country of football betting is very common on games. Anyone who has ever had the opportunity to go to London will probably also notice that there is a betting shop on almost every corner. These betting shops are also very avidly used by the Londoners. Most bets today are made on a wide variety of sports. Of course there are very popular sports where you bet more often. But there are also sports that are more exotic. Football has always been the king of betting and bets on it are made on a global scale. But today there is also the option of betting on different types of sports. For example, you can bet on club soccer games, American football games, basketball games, baseball games, hockey games, track cycling, auto racing events, mixed martial arts matches and boxing .

Further highlights in the betting business are betting on sports at both amateur and professional level

The bets can now be placed on any portal through the Internet. Sports betting can also refer to non-sporting events, such as reality show competitions and political elections. Sports bettors either place their bets legally. In most countries betting is also legally possible. However, there are also very many countries (or sometimes only regions) where private betting is not allowed at all. The majority of legal sports betting is done online. They are made through platforms on the Internet.

Sports betting and gambling are creating new jobs

These platforms are operated by large companies that have a global presence on the Internet, but are mostly based in tax havens. Sports betting has led to a number of scandals in sports that have affected the integrity of sports events through various acts. These were mainly illegal activities, in which one had attempted to manipulate games. For example, individual players were bribed or referees pocketed money to whistle in favor of the opposing team. Of course, such events are undesirable for the industry as a whole, but such events can never be prevented.

Jobs are created from a solid foundation - gambling and sports betting are big business for industry and the state

It's no big secret that there is a lot of money to be made in gambling. This does not only affect the companies themselves, but also the employees who work in this industry. There are studies that put the value or added value of the entire industry worldwide at around 100 billion dollars. You can also work out how many jobs will be created in industry. In total, there are thousands of jobs that are created with games of chance. Of course, a special responsibility has been created in this industry so that one does not become addicted to gambling. Unfortunately, many gamblers misjudge risk and stop being responsible gamblers. But it is not only your own fate that is sealed with it. 
Usually a whole family depends on the gambling addiction of the player, which of course can have serious effects. For this reason, the industry suffers time and again from banning games of chance and sports betting.

Should gambling and sports betting be banned?

That is of course not the solution and it is much more a matter of dealing responsibly as a company with the task of offering betting on events and games of all kinds. But if the market were to be banned completely, the consequences would be the same as when alcohol was banned in the United States in the 1930s. Illegal gambling dens emerged, where alcohol was also drunk. There was not only more alcohol consumption, but also an enormous risk to one's own health. The dangers lay in the fact that, for example, people had drunk ill-distilled illegal alcohol and thus accepted health risks. In addition, this alcohol was also much more expensive than the alcohol that could still be bought legally. This shift to illegality has done nothing at all, and the same fate would befall the gambling and sports betting market if the market were banned. So it wouldn't be a good idea at all, and most of all, sales would go up. However, there would of course be a lot of black money to be booked, whereby the state could not generate any income from taxes. All in all, of course, that would be a very bad deal for everyone involved. But read more on the topic:

What efforts are there to reduce illegal sports betting?

But now there are markets where sports betting is prohibited. Based on these comparisons, we can also make good assumptions about how a legal market would develop. Overall, several families have established themselves in these markets, sharing a business full of billions. Through these machinations, the state also misses the opportunity to collect taxes. In addition, these criminal networks also lead to the use of other illegal activities besides illegal gambling.

Sports betting and gambling are creating new jobs

Most initiatives in these markets have been created to prevent gangs and criminal families from using illegal gambling to fund other activities such as violent crime, drug distribution and human trafficking. Most of the money that is produced by the illegal business ends up there. Strictly speaking, of course, one should not disregard the fact that jobs are also being created in the illegal area of ​​gambling and sports betting. However, these jobs only serve the shadow economy and in principle have no right to be mentioned in statistics. While this initiative is conceptually powerful, its application has so far been ineffective given the massive size of illegal sports betting.