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Author Topic: What is the difference between binary option and gambling?  (Read 662 times)
arpon11
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August 24, 2019, 06:52:45 PM
 #1

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?
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August 24, 2019, 07:21:33 PM
 #2

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.

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August 24, 2019, 07:24:42 PM
 #3

Binary option trading is simply a gamble but the difference is we have the data for the product which we are going to be into in binary trading so we can come into the conclusion for ourselves whether the prices will reach that level or will fall under that but in most games in gambling the results are completely unknown until it happens.

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August 24, 2019, 09:16:51 PM
 #4

I consider Binary options to be somewhat in level with gambling.BO does simply need for you to guess on what would be the price of a certain asset on a specific period of time.

With having some knowledge and skills towards trading you can somewhat do took advantage but yet we know that price movements aren't really that predictable no matter how good the analysis we had.So in short its somewhat mixed or does require some luck.



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August 24, 2019, 09:45:02 PM
Last edit: August 24, 2019, 10:37:43 PM by Fedice
 #5

They both function the same way and with similar outcomes. The reason there is Betting, Binary Trading, and Forex Trading is because of humans inability to predict the future events correctly, and our continuous willingness to try our luck at profiting from the uncertainty. There is no better name to that than Gambling.

Some times, it falls in our favor, other times, it doesn't. No matter the set of data we rely upon, the results will always be similar. There are punters who rely on skills just as Binary traders. Still, the outcome will never be guaranteed.

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August 24, 2019, 10:03:38 PM
 #6

For me, it's more on betting rather than any other you can call it. The reason is that, it's a matter of luck most of the time. Binary option focuses in a short period of time frame thus it's difficult to win against volatile movement of chart. Even if you analyze correctly, if the market turns against your position even with just a single candle then your call is already dead, wiping the quantity of your money you put for that certain call.

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August 24, 2019, 10:25:00 PM
 #7

In my opinion is Binary option is a kind of gamble. In both Binary option and gambling you are predicting an outcome and you are risking your money. So there is no difference. But some people believe that Binary option is not gambling and it's different. They believe that binary option investors are skilled people. They study market trends and analysis charts. But Gamblers are emotional people that just hope they predict the outcome right.
I think, however the people involved in binary options and gamble might be different, the nature of both is completely same. In both you are predicting something that no one knows the outcome. So, they are same as each other and we can call binary option a kind of gambling.

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August 25, 2019, 06:02:01 AM
 #8

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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August 25, 2019, 06:18:48 AM
 #9

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.

Gambling is not a matter indicators or not, but gambling is only a matter of perspective. When you bet by only relying on luck then you are gambling, different if you bet with analysis or careful thought then it is not gambling. And not only that, gambling has a very familiar system that is when you lose you will lose all your money and it is in binary options. Well, I'm sure binary options are one gambling under guise trade, if you don't believe it, please seek a license from binary sites, I'm sure their legality is a gambling site.

 
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August 25, 2019, 07:01:19 AM
 #10

In my view, maybe almost same. What make it different is binary option is a skilled gambling that require us to analyze to where price will be. Maybe almost like sportsbetting game that we can analyze the game and make decision. Not like dice game which actually when we use any strategy, if we not luck we still lose in game. But in the end, Binary options , common gambling games will make people lose money. So play it wisely and don't let gambling take control of your life.

 
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August 25, 2019, 08:10:53 AM
Last edit: August 25, 2019, 08:30:16 AM by Rozita
 #11

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.

You are right about the knowledge binary option investors have. Yes, they have knowledge about fundamentals and technical indicators. But what do they analyze?
They analyze the charts and market trends. They see a pattern and predict what will be the a price in a certain time.
Now consider gamblers that predict football matches. How do they predict the matches? Do they only try their luck without any study? Many of them are skilled people with knowledge about analyzing football matches. They pay attention to the past matches of the team as well binary option investors pay attention to the past patterns and charts. Both of them study. Both of them are skilled people.
I admit that there are many gamblers that play only for fun, but that not cause us to think gamblers are unskilled people. There are many skilled gamblers.
Generally, I believe binary option investors gamble.



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August 25, 2019, 08:16:32 AM
 #12

The concept of binary option in trading just like gambling but the whole thought are both risky, so let's start with this --trading, this is clear that the financial instrument with a strategy that has a positive expectancy. In short, you even don't know the stock very well, an option on a volatile stock or hard to value one and there is you don't know either long term or short term and can work with indicators.

While in gambling,--betting on an uncertain outcome and trade any financial instrument without a strategy that has a positive expectancy. While this gambling is very opposite to binary option and I think they had a difference between these two methods of earning money both risky but if you know how to work strategy, skills, and indicators, then, you will lessen the risk.




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August 25, 2019, 09:52:34 AM
 #13

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?
I think the answer largely depends on the definition of gambling. For most terms, there are various definitions, and nowadays we live in a world where the limits of different areas are getting more and more blurred. One could say that gambling is only when you take your chances irrationally when there are no skills that can affect the result, whereas trading is a profession. But then there are games like poker in which you can become a professional and earn money. Does it still count like gambling then? At the same time, trading offer involves such a high risk that your skills play a very small part in it. This seems to be especially true with binaries since there's a house edge, according to this guy, and so the house wins in the end: https://youtu.be/nXHdoXJ9h5M?t=189.

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August 25, 2019, 10:05:06 AM
 #14

You may think that binary options need predictions like trading which makes it different from gambling but this is a misconception. I do not consider binary options as something that can be provably fair. From the experience of other players here what I have learnt is that day trading is something different from spot trading and from binary options. Do no confuse day trading or spot with binary. The first two need analysis and a lot of homework on the part of the trader.

Binary options is just like a dice game. Moreover majority of site providing them which are promoted in social media are borderline scams. Maybe you heard it there. I would not suggest them at all.

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August 25, 2019, 10:34:29 AM
 #15

Binary option trading looks almost same as the way we gamble. From my view with binary option trading users predict on the investment. The growth could happen in the right or go down after specific time. This could get profit or lead to loss, whereas with gambling we go with two odds winning and the losing odds. If the prediction we made happen by the end of the game it gets an earning apart from the bet amount. Both are almost the same, but on what we predict matters. This doesn't mean binary option trading isn't part of gambling industry.




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August 25, 2019, 10:59:05 AM
 #16

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.

Forex and stocks may have indicators but binary trading is close to gambling. The indicators do not work well in the binary options. You can call it skilled form of gambling where a gambler has to predict right or wrong and there is nothing in between. This is different for the trading which normally traders do at the exchanges.



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August 25, 2019, 11:22:09 AM
 #17

For me they are almost the same because in binary trading and gambling we used the same activities.  Which is we predict also and hoping something good with it ,and the degree of risk that attached on them are the same..  But i agree also that there is a deference, such  studying the market wherein not exist on gambling in my opinion.  .



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August 25, 2019, 03:22:17 PM
 #18

Which is riskier: cryptocurrency, Forex or Stock Trading? Well, in my experience, I find cryptocurrency trading more rewarding. So, it's a better skill-based "gambling". It's a bit more balanced between winning and losing.

Binary option is definitely a more difficult skill-based gambling

 
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August 25, 2019, 03:46:30 PM
 #19

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?

There's not much difference between a short term binary option and a dice game but when you consider a binary move of 10 minutes or larger, it could easily be predicted with the current market trend and new news that could influence the market. Even a short term options can be favorable on rapid bearish or bullish trend.



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August 25, 2019, 04:30:07 PM
 #20

Which is riskier: cryptocurrency, Forex or Stock Trading? Well, in my experience, I find cryptocurrency trading more rewarding. So, it's a better skill-based "gambling". It's a bit more balanced between winning and losing.

Binary option is definitely a more difficult skill-based gambling

Traditional crypto trading, forex and stocks all are safe than gambling and binary options. Even leverage trading is not safe and you have more risk in leverage or marginal trading.

All the things are more rsiky where luck is involved more than the skills.






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