Anything that has an advantage, also has a disadvantage. But in betting, the disadvantage far outweighs the advantages. Because the fact that you bet always does not guarantee you winning everytime. Betting shouldn't be banned, rather, it should be allowed to take its credence to those who are benefiting from it. What is required from individuals, is just restraint and discipline, to avoid engaging in theft, because of betting. Students, or those who bet should understand that it's gambling, there is a presumption that you must loose, so just discipline yourself, so that you don't spend more than you earn.