Sports betting is not without its drawbacks but it is certainly not as harmful as many mainstream forms of gambling that have been legitimized and reinforced throughout history as somehow more acceptable than sports betting. The stock market is of course perhaps the most glaring example of such hypocrisy and is not different -perhaps if more dangerous- than online sports betting.
There are many differences between playing the stock market and sports betting but the major one is the simple fact that the gambling on Wall Street is done by people in suit and ties whereas sports betting is conducted by average sports fans from their own home.
Not nearly so glamorous as wagering on the stock market and so it’s not perceived to be nearly as sexy, even though it’s a much more calculated risk than betting on stocks. The online sports betting industry has now made sports betting available to almost anyone in the world who has access to the Internet.
That is a much wider audience than the stock market has, and perhaps it’s this exclusivity that makes stock market betting more socially acceptable than sports betting. But the stock market is one of the riskiest gambles there is. You could be up a million dollars one day and be in the whole ten million the next.
Just look at what the markets done so far this year to get a sense of the risk compared with sports betting. The risk is almost muted as sites provide sports betting odds. The odds serve as guide as to the risk involved with any bet. If the lines spread are huge, you know that there is a great deal of risk.
If the line is flat the teams are even. There is no such comparable metric with which to gauge stocks and that’s why betting on the stock market is so much more risky than online sports betting.