In social dilemmas, unrestricted freedom to pursue the immediate individual interests may be detrimental to the collective interest. Sanctions (either positive or negative) are often proposed as structural solutions to social dilemmas. But how effective are sanctions when it comes to promoting cooperation? And, how willing are people to implement such sanctions? To answer these questions, we draw on recent insights from psychology, economics, and evolutionary psychology, and review the latest developments in sanction research. In doing so, we will also discuss the puzzling phenomenon of antisocial punishment; the tendency to punish those who cooperate. We conclude with suggestions for future research.