Greetings!
I clearly remember an event in 2021 when a close friend of mine decided to quit crypto entirely. According to him, crypto was no different from betting. At that time, all his investments in crypto had gone sour, leaving him financially drained. The way he expressed his frustration was so amusing that I couldn’t help but laugh. However, after my brief laughter, I reminded him of the basic principles of both crypto and betting—rules he was well aware of—such as only investing or betting with what you can afford to lose.
Over time, I’ve observed numerous debates surrounding the issue of whether governments should ban betting, given that it has arguably caused more harm than good for many people. Similarly, debates on whether betting is a sin often dominate discussions in religious circles. Looking at both platforms—betting and crypto—they are very much related. If one is accepted while the other is banned?
So, should the government ban betting?
My answer is a big NO!
First of all, I’m not into betting. I’ve never engaged in it, except for the casual, no-stakes kind done purely for fun. A typical example of this is the World Cup prediction events organized by Hivebuzz. Although I don’t participate in formal betting, I know many acquaintances who do. I’ve seen how they celebrate when they win and lament when they lose. Even so, I firmly believe betting should not be banned. Betting is an adult activity, and anyone who chooses to engage in it should understand the risks and consequences involved—just as they would in crypto.
Yes, I am aware that betting can become addictive. That’s the issue: gamblers often keep going in the hope of winning, without considering the financial losses piling up in the process.
Some countries have restricted cryptocurrency operations, but the primary reason isn’t its impact on personal finances—it’s the crimes associated with it. Meanwhile, many nations openly embrace crypto while frowning upon betting. Now, if crypto is permitted, why the backlash and calls for banning betting operations? Aren’t they essentially similar?
Some people might argue that crypto is more “fair.” That’s a fallacy. Just as investors in crypto put in money and hope to cash out profitably—only to sometimes lose everything—that’s the same way betting works for many. Both involve risks, uncertainty, and, in some cases, significant financial losses.
In my view, banning betting is unnecessary because it is a choice, not a compulsion. People should be allowed to bet if they wish, but they need to exercise caution, learn to manage their habits, and know when to pause—or stop entirely—if they struggle with addiction.
Let’s not ignore the economic contributions of betting platforms either. These companies have created employment opportunities, lifting many people off the streets and providing them with livelihoods.
The real issue isn’t betting itself—it’s the lack of control many people have over their betting habits.
Thanks for reading!
If many can control themselves, betting would be less harmful
Exactly.
The problem is the deep negative addiction attached to it.
Thanks for stopping by
You're welcome
The govt would never ban it, you said it right.
Betting is making people more money greedy. I hate this so much.
But a very stubborn government could ban betting. Just like the way some countries are facing crypto ban😅
Thank you for stopping by
Crypto is banned in my country too but we are here 🤭 so the banning will only lose them Vat.
It's truly a choice but so many people can't control the temptations attached that is why it is bad to me.
Yeahh, the bad part is the addiction in a negative way.
If people are doing it moderately, especially learning how to make a pause, it wouldn't have been harmful as it is today
Yes
That is true
Both involve risks absolutely.
But for betting or gambling anyhow you call it, is very unhealthy kind of sourcing for money because it's damn addictive and can cause depression at times.
I'm talking from experience, lol.
Lol😅
I've been seeing your betting posts.
Una get money sha
That's a pretty good rule, simple: only bet what you can afford to lose. I think that problem gamblers just focus their minds on the possibility of winning, or on extremist ideas like you're only going to win if you bet big.
And indeed, I hadn't thought about all the people who would lose their jobs and livelihoods if gambling became illegal overnight. Good thing to keep in mind.
I support you with that answer. Government has there own shares and remember it boosts the country's gdp