Take a look at recent statistics involving illicit sports gambling, where the top markets are from USA and China, where guess what, sports gambling was illegal. In fact, take a look at anything that is made illegal, people seem to want to do things that are not allowed. Now that you see US allowing sports gambling, this will actually take a hit to illegal sports gambling, maybe even reduce match fixing by organized crime. So the question is determinedly easy to answer. Of course yes!
Gambling is a natural phenomena, people take risks every day in their lives and livelihoods. Some of those gambles will pay off monetarily and some are just risks one takes in life. Its pretty much to outlaw human nature in this way and if anything sports gambling is far more sensible and least risky of all the gambles one could take in life.
I agree on the illegal aspect, gambling is illegal in Pakistan for religious reasons I think but there is also a heavy influence in bribing players to determine outcomes for the betting stakes set not just in that country but across Asia. Even UK far as it is has seen influence from Asia based gambling rings in UK games.