Could be in any context. I do it a little on UFC fights but that’s a relatively low amount and I can afford I to lose any time I do. It seems like it’s becoming a really wide spread problem though, at least in the US. At the same time I don’t see why it should be illegal. Granted I also don’t think any drug should be illegal.
You’re technically always losing because it’s in embedded in the programs and the host/casino/whatever cannot lose money. You have to be an idiot to be gambling.