We all know that betting is one of the many forms of gambling. It is basically putting our money at stake, outcome of which depends on some games or races, basically uncertain events. Football, as we all know is one of the most popular sport so gambling in this sport is also very popular in the United States of America. Football betting is a growing industry all over the world. It is an industry worth billions of dollar every year. Football betting is such a big phenomenon that it’s share is about 70{ce12bee441199aa9f41e21f8862376aebf689483b1e799f5162d1604def738e4} of the total bets being made involving all the sports. If you have a good knowledge about this sport and have a strong heart and money to put at stake than this industry has so much to offer. 
But, not everything is a cake walk. There are huge risks associated with this industry as well. Digitalization has played an important role in capitalization through this industry. Availability of internet and mobile phones has made it possible for the fans to have quick access to all the odds. Due to this, the involvement of people in this industry has increased drastically. With increase in the market of betting due to mass media, the chances of match fixing have increased.
Some countries do not allow betting. Gambling is illegal over there. But, due to the availability of information and easy access to the gamblers and bookmakers they are able to involve into all these things. Due to this, there is major loss to the government in the form of taxes as the transactions involved in this are unaccounted. Also, it reduces the profits of legal bookmakers. Gambling is based on mutual trust as there is no availability of records.
People have perception that gambling is a good way to earn quick cash. Yes, it is, but, only when odds are in your favor. But, this is not possible all the time. One day you may win loads of cash and the other day you can be out of money. Money in this game goes as quick as it comes. Its unpredictable, so will be your life. Depending on just football betting for livelihood can render you homeless.
Losing a bet can affect you adversely. It can have very bad impact on an individual. A person can go into depression when he/she is unable to pay the money he/she lost in the bet, sadness, high BP, depression, regret are the things that follow.
It can be a waste of financial resources as well if the money you invested in was to be used for some important work. Investing money worth your life is not a good idea to implement. Losing the bet can only worsen your condition.
There is also a saying by Thomas Robert that no wife can endure a gambling husband, unless he is a constant winner. Losing a bet can give an impression of a failure and no woman would like to live with a man who lose.