I think it's dumb as hell personally. You're addicted to the thrill of the gamble most likely, not the animals fighting to the death. I agree that it's animal cruelty as well. Maybe anyone engaging in the activity should be thrown in a cage and have to fight to the death, then maybe people will find something better to do with their time than watch animals kill each other. Gamble on something where death isn't involved.
It will never be fun to me watching animals fight to death and I will not bet in such cruelty, I think it’s something that should not happen, in my country cockfight is not popular but we have ram fight and I also think it is cruel. There is a line between fun and wickedness and cockfight is a very wicked and cruel sport.