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Author Topic: What is the difference between binary option and gambling?  (Read 662 times)
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September 03, 2019, 08:59:08 PM
 #61

You have answered so many questions you are trying to ask by yourself except that you want more contribution and the actually difference. The point is life is all having to do with risk. Whatever
business involves risk, whether physical or online. Therefore, gambling has no indicators while binary, forex, stock etc are involving indicators as guiding principle and they are mainly about the economy, so they are not the same with gambling.
I am not new to both binary options and gambling but just want to find out if what I am having in my mind is actually truth! Remember that binary options entails analysis and since is a bit of forex and stocks trading movements predictions it is not all about luck . You may have a good strategy or knowledge on both fundamentals and technical indicators that may makes you money. In gambling I have not see any such technique and since I have been gambling I completely depends on luck and risk.

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In gambling I have not see any such technique and since I have been gambling I completely depends on luck and risk.


You should try skill-based gambling like sports betting, poker, etc... I think if you make thorough analysis of skill based gambling you could come up with predictable results.
 In sports betting for example you could analyze players past record, current form, preparations, skills, health, etc. I believe someone with enough information and good analytical skills could correctly predict many live Football matches.

 
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September 04, 2019, 12:32:46 PM
 #62

I will say that that the difference you mentioned is also not a difference in my opinion because almost all gamblers go into gambling for money making and this is the same with binary options. There is no difference between both but rather more of similarity in your words. They both require money to begin and as well both games are risky even though some people believe that gambling is more risky than binary options.

I prefer gambling anyway because you can have fun gambling and also make money but binary options is strictly business and it is not my kind of thing. I love something I can participate, have fun and as well make money and that is definitely gambling.
Point of correction, not most but all gamblers are into the game for the money. Don’t be deceived by the so called playing for entertainment gamblers. They are only deceiving other players. I understand the aspect of gambling for money and as well having fun but what annoys me is when they say they are only into gambling for fun. Like seriously, how honest is that statement. You mean losing sometimes can make someone happy? That is really strange and sound very unbelievable.

Back to the post. There is no difference between binary option and gambling, it both takes a man that is willing to take risk to try out this two, it also request a business minded person to be involved with both which makes it very similar.
I am so surprised at your level of thinking. Maybe you should talk for yourself. I can’t talk for everyone but one thing I am very sure of is that I am not into gambling to make money. I didn’t really understand the monetary aspect of gambling until recently I got to understand it perfectly well. Before now I play and when I win, am glad, also when I loose I could try again or give a break but either ways I wasn’t desperate. I know so many people like me that have very good sources of income and only play for fun with no intention to make money. Yes money could be won along the line but it is only a plus.

I do binary options and the reason I am there is strictly to make money, unlike gambling that I only play to be entertained, so this is a huge difference. One is for money and one is for fun.
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September 04, 2019, 01:06:28 PM
 #63

I always measure gambling from the level of risk and reward and i do believe that, this is the reason why cryptocurrencies traders, binary option traders, and forex traders are been referred to as gamblers by those that did not know how there work, as it is possible to have your entire accounts wipe out if you take risk with all your funds and at the same time it is also possible to double or triple your funds by just small movement in you favour.
It is almost impossible to come out with profits in binary options and a lot of strategies are out there and I have tried many of them. One thing is very common and that is: the gambling companies keep making money and binary option websites owners are among millionaire in their countries. My question is that,  is binary options part of the gambling industry as it deals with betting?
if my option which is called betting or multiplying is called gambling, I am not sure about binary because I just heard it. I need to learn more about this binary.

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September 04, 2019, 03:20:37 PM
Last edit: September 04, 2019, 08:11:13 PM by EdenHazard
 #64

Well, everyone had their own insights towards Binary options trading yet even on your part its a scam but there are still people who do engage to this binary thing.
Yes, you can eventually felt it when theres manipulation or everything sounds doesnt right while your are trading with it.I cant deny that high chances of manipulative ticks which will result to loss.This is one of the reason why i left BO.
Apologize for my extreme comment by the way Cheesy

If you look at the binary option companies advertising style ... most of them are trying so hard convincing people through an exaggerated narration that for me personally tend to "clearly want to scam everyone"

They shows expensive sports car in the ad, showing how they could travel around the world easily and any other luxuries stuff just to make people lured to play there.

Come on .... making money is not that easy , a lot of my colleagues fall to this awful ad , they think it's just like trading whilst it's worse than gambling in other words you are giving away your money once you get in the BO site. Stay away the different pretty obvious  that :

Binary option = Scam service on behalf trading
Trading = buy and sell a real financial instruments

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September 04, 2019, 04:01:24 PM
 #65

Binary option = Scam service on behalf trading
Trading = buy and sell a real financial instruments

This explain it all. Many newbie traders think that binary option is part of trading and they think they are doing trading while actually they are not. Binary option is more relevant to gambling but most of the binary option sites are made to scam people. So it is better to avoid the binary options.

If you are a trader than do proper trading (No binary option) and if you are a gambler, do proper gambling ( No binary option) .  Smiley

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September 04, 2019, 04:52:27 PM
 #66

You should try skill-based gambling like sports betting, poker, etc... I think if you make thorough analysis of skill based gambling you could come up with predictable results.
 In sports betting for example you could analyze players past record, current form, preparations, skills, health, etc. I believe someone with enough information and good analytical skills could correctly predict many live Football matches.
I don’t believe in expertise when it comes to sport games predictions, from my experiences it never works. Some of the so called experts will always think because of their familiarity with the game, they could predict and it will come to pass but it is absolutely wrong, it is still uncertain until the game comes to an end. I remember the last bet I participated in and I paid an expert for predictions, it was so painful how I only 1 out of 10 games and the guy felt quit ashamed.

He looked surprised cos according to him, he was always been known for accurate predictions and from the moment I concluded it is still based on luck, I could have as well done it myself and still win that same one or even more game even with my lack of experience.




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September 05, 2019, 11:19:35 AM
 #67

I do get you but don't you think trading is also in a way betting or gambling? Personally i see everything that works on "predict and win" as gambling. All those things are a play on your ability to predict the future and you sure can predict it wrong buddy (that either makes you lose and someone win or vice versa).
In as much as you cannot be completely rest assured on what happens the next minute, I am of the opinion that they all fall into gambling category because there’s an aspect of uncertainty with both and if you believe there’s a skill required for binary option, I will say that it is all the same with  gambling because to successfully hit jackpots in gambling you must have skills and that is what differentiate big players from players that are completely dependent on luck.

For me, I don’t even do any, either gambling on binary option, I would either keep my money safe in a fixed deposit account and enjoy dividends or buy Bitcoin to hold. My experience with gambling has taught me to stay safe by quitting and investing in better things.

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September 05, 2019, 04:30:21 PM
 #68

I always measure gambling from the level of risk and reward and i do believe that, this is the reason why cryptocurrencies traders, binary option traders, and forex traders are been referred to as gamblers by those that did not know how there work, as it is possible to have your entire accounts wipe out if you take risk with all your funds and at the same time it is also possible to double or triple your funds by just small movement in you favour.
It is almost impossible to come out with profits in binary options and a lot of strategies are out there and I have tried many of them. One thing is very common and that is: the gambling companies keep making money and binary option websites owners are among millionaire in their countries. My question is that,  is binary options part of the gambling industry as it deals with betting?
if my option which is called betting or multiplying is called gambling, I am not sure about binary because I just heard it. I need to learn more about this binary.

Binary option is like predicting the price of an asset will go up or down in specific time frame. There was a popular site called secondstrade for this binary option but now there is no popular binary option sites in this crypto industry unless I miss it because I do not really like binary option. How about binomo? Havent you heard about it? It is very popular out there because it is advertised by many people in youtube including youtuber in your country. So check it out if you want to know more.

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September 06, 2019, 12:23:55 AM
 #69

I would either keep my money safe in a fixed deposit account and enjoy dividends or buy Bitcoin to hold.

It is a safe method to prevent from a loss Grin

The different on here will be we use games and an asset to risk the money, and we hope to get a profit from binary option and gambling. But the risk will be bigger in gambling than binary option since I guess we can learn hard on a binary option from many websites. The other difference will be if in binary option when we lose, we are getting stress and sad. But in gambling, if we lose, we could still have fun without thinking about the loss itself.

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September 07, 2019, 06:55:40 AM
 #70

I always measure gambling from the level of risk and reward and i do believe that, this is the reason why cryptocurrencies traders, binary option traders, and forex traders are been referred to as gamblers by those that did not know how there work, as it is possible to have your entire accounts wipe out if you take risk with all your funds and at the same time it is also possible to double or triple your funds by just small movement in you favour.
It is almost impossible to come out with profits in binary options and a lot of strategies are out there and I have tried many of them. One thing is very common and that is: the gambling companies keep making money and binary option websites owners are among millionaire in their countries. My question is that,  is binary options part of the gambling industry as it deals with betting?
if my option which is called betting or multiplying is called gambling, I am not sure about binary because I just heard it. I need to learn more about this binary.

Binary is also gambling on which you gamble whether the coin price will move up or down in the next 1 min or 5 mins etc. You have to predict it rightly and if you are able to do so you will be able to win good amount. But this does not happen and mostly all people lose in binary option trading.

If you are new to binary option and want to know more about it, i would suggest you to keep away from it.



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September 07, 2019, 07:51:56 AM
 #71

Quote
money safe in a fixed deposit account

There is no safe money any more, every cash note is a zero coupon bond of money owed by government to payee.   If government does not default, the value is retained partially but there is a gradual loss anyway with interest rates still below inflation.   Soft default is ongoing.
   I also used to be a saver when rates were 10% but that was a while ago, now we live in a confusing world where there is no safe money unfortunately.   I only mention it because that is part of why crypto is where it is right now, especially when its done across the world and many people dont have access to dollars in this way.

  A return on Bitcoin is possible but of course its not without risk, I'm just mentioning even plain national currency has a risk to it as well though distributed and considered far less.   A few sites will a return on Bitcoin similar to interest or its possible to get a return greater if you accept investment risk.

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September 07, 2019, 09:05:54 AM
 #72

My question is that,  is binary options part of the gambling industry as it deals with betting?
No it isn't part because there were legit binary option brokers and this isn't part of gambling industry.They are already considered as gambling since they do only have two options on how to win a binary bet.You can base of trading movements into actual market movements which means its not totally gambling that we know where luck is 100% needed since this one do have some basis.

I think so, how can you predict where the market will take place in a period of just a few minutes? What components are there to do the analysis to determine where the market will be going to up or down, of course it is very difficult right? therefore binary can be said to be closer to gambling than technical analysis or trade.

 
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September 07, 2019, 10:20:06 AM
 #73

Just talking about sports betting -  a binary option is the same as betting Moneyline, or Total Points/Handicap line, or any coin toss outcome, yes. You can see this even better when you make a sports bet on a betting exchange (like Betfair)... there it is explicit that you are taking one of two (binary) positions in a market - backing or laying.

And, just as in binary options in the financial markets, you can trade your position on an exchange. And you can improve your chances of profit by improving you modelling of the underlying asset/event.


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September 07, 2019, 10:31:38 AM
 #74

Consider it from this angle, your average gambling games requires mostly luck foe you to be successful but in binary options although luck is also a factor but when skills is added it becomes a repeat success. Binary options isn't gambling in general although it has some gambling elements.

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September 07, 2019, 11:19:09 AM
 #75

Consider it from this angle, your average gambling games requires mostly luck foe you to be successful but in binary options although luck is also a factor but when skills is added it becomes a repeat success. Binary options isn't gambling in general although it has some gambling elements.

A binary option is highly risky, I'd rather call it as gambling because even if you can read a chart, it's almost impossible to predict which way an asset price will go in 1-minute timescale.

Read these for further references:
Code:
https://www.sec.gov/investor/alerts/ia_binary.pdf
https://www.cftc.gov/ConsumerProtection/FraudAwarenessPrevention/CFTCFraudAdvisories/fraudadv_binaryoptions.html
https://www.fbi.gov/news/stories/binary-options-fraud

I know some of you hate governments but take a look at the facts and draw your own conclusion.

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September 07, 2019, 12:14:18 PM
 #76


A binary option is highly risky, I'd rather call it as gambling because even if you can read a chart, it's almost impossible to predict which way an asset price will go in 1-minute timescale.

Read these for further references:
Code:
https://www.sec.gov/investor/alerts/ia_binary.pdf
https://www.cftc.gov/ConsumerProtection/FraudAwarenessPrevention/CFTCFraudAdvisories/fraudadv_binaryoptions.html
https://www.fbi.gov/news/stories/binary-options-fraud

I know some of you hate governments but take a look at the facts and draw your own conclusion.


OK, but it doesn't need to be a 1 minute timescale, right? But agreed, there is a LOT of noise and not much signal with price movements of a huge number of binary options.

Some good links there. Some of what these government bodies do is genuinely trying to protect people (don't want to get into a governments bad/good argument)

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September 07, 2019, 12:23:55 PM
 #77

Binary option = Scam service on behalf trading
Trading = buy and sell a real financial instruments

This explain it all. Many newbie traders think that binary option is part of trading and they think they are doing trading while actually they are not. Binary option is more relevant to gambling but most of the binary option sites are made to scam people. So it is better to avoid the binary options.

If you are a trader than do proper trading (No binary option) and if you are a gambler, do proper gambling ( No binary option) .  Smiley

That's true ... an irony for those who uneducated about how the real trading is actually work , they lured to make money easily through an attractive binary advertisement .

Binary option it's like a game of trading ... No I mean it's completely just a game of scam, how the fuck you choose up and down could be called a trading? Where's the effort to analyze the movement? Oh wait you can't do that due the short term movement is the only binary option preference, you got no time to do any proper research and simply choose up or down randomly.

Besides that i really doubt that there's a way to verify this binary option transactions which makes me think so hard that this kind service is just a scam.

Of course i won't even call it as a high risk type of trading.

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September 07, 2019, 02:44:02 PM
 #78

I will say that that the difference you mentioned is also not a difference in my opinion because almost all gamblers go into gambling for money making and this is the same with binary options. There is no difference between both but rather more of similarity in your words. They both require money to begin and as well both games are risky even though some people believe that gambling is more risky than binary options.

I prefer gambling anyway because you can have fun gambling and also make money but binary options is strictly business and it is not my kind of thing. I love something I can participate, have fun and as well make money and that is definitely gambling.
Point of correction, not most but all gamblers are into the game for the money. Don’t be deceived by the so called playing for entertainment gamblers. They are only deceiving other players. I understand the aspect of gambling for money and as well having fun but what annoys me is when they say they are only into gambling for fun. Like seriously, how honest is that statement. You mean losing sometimes can make someone happy? That is really strange and sound very unbelievable.

Back to the post. There is no difference between binary option and gambling, it both takes a man that is willing to take risk to try out this two, it also request a business minded person to be involved with both which makes it very similar.
I am so surprised at your level of thinking. Maybe you should talk for yourself. I can’t talk for everyone but one thing I am very sure of is that I am not into gambling to make money. I didn’t really understand the monetary aspect of gambling until recently I got to understand it perfectly well. Before now I play and when I win, am glad, also when I loose I could try again or give a break but either ways I wasn’t desperate. I know so many people like me that have very good sources of income and only play for fun with no intention to make money. Yes money could be won along the line but it is only a plus.

I do binary options and the reason I am there is strictly to make money, unlike gambling that I only play to be entertained, so this is a huge difference. One is for money and one is for fun.
You really gambling to be entertained and not to make money? Do you make money trading Binary option or no? I guess why you enjoy gambling is because it is not as boring as Binary option... as there are loads of truely entertaining gamblings that exist but not so with Binary option.
Wonder if you ever go through gambling addiction since you play for fun/entertainment. If you gamble and don't care about losing money, that means you keep losing money and don't want to quit due to the fun.

 
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September 07, 2019, 07:48:50 PM
 #79

I would either keep my money safe in a fixed deposit account and enjoy dividends or buy Bitcoin to hold.

It is a safe method to prevent from a loss Grin

The different on here will be we use games and an asset to risk the money, and we hope to get a profit from binary option and gambling. But the risk will be bigger in gambling than binary option since I guess we can learn hard on a binary option from many websites. The other difference will be if in binary option when we lose, we are getting stress and sad. But in gambling, if we lose, we could still have fun without thinking about the loss itself.
In my opinion, I will say that nothing is safe, be it binary option, gambling or whatever that has to do with online money making. Nothing beats having a business you can focus your mind into and ignore taken unprofitable risks in online gambling that never pays.

The upper poster has made his point very clear and I stand with that I a way, instead of putting money into gambling or even binary option, I think it is more preferable to keep it in an account where it would be safe even though the expected interest will be very small but me as a business person would rather run a business with it believing it will grow and I do not stand any chance of losing than gambling or binary option.


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September 07, 2019, 08:17:55 PM
 #80

I think betting/gambling is an umbrella term covering a wide range of predictive games or activities. Binary option trading, sports betting, lottery and so many other things are all categorized under gambling so I don't think you can clearly strike a difference between the two you asked.
I think there is a wide range of different between gambling and binary options and many people that do trade binary options that I know don’t see themselves as a gamblers but traders. Some even referred to themselves as a forex traders or stocks traders! The rate of risk is another areas you should look at. In gambling you cannot have any strategy that will keep putting money in your pockets but binary options market can be a bit predictable and though it is risky but the risk is quite understandable.
okay I do get you but don't you think trading is also in a way betting or gambling? Personally i see everything that works on "predict and win" as gambling. All those things are a play on your ability to predict the future and you sure can predict it wrong buddy (that either makes you lose and someone win or vice versa).

No, it is not the same as in trading. You need to have the skill to know where the trend of the coins moves. In gambling, you can play games without learning how to play with good. But maybe you are right if you say trading without skill, it is the same as gambling because we only predict without analyzing which coin that will increase. So it depends on how to treat trading and gambling itself.
Trading is not that easy as you think compared to gambling since you will need a good analysis of the coin that you choose to trade. While in gambling you were just basically looking for an odds/luck/chances in order to win. You can't treat gambling as trading or the other way around.



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