Investing in Casino tokens such as BFG, OWL or TFS

[mak013]

I don`t think that this is a good idea to invest in casino tokens. It is possible that they pumps sometimes, but i doesn`t depends on the casino most of the times. And casino have to invent some system like as frozen tokens to make investors don`t sell it.
Such tokens may be interesting if casino develops their own blockchain and use their tokens as a commission for example, but it is heavy expenses for the casino that they don`t need.

I don't really agree and everybody needs to do their own calculations to see if it is interesting or not. If you look at Betfury for example, they got a maximum cap in place and do monthly burning programs also.

Of course everybody does his own research. Someone can believe in project, someone is waiting for pump. There are different investing strategies and everybody choose what to do with his own opinion. But we saw different ideas that are useless. It doesn`t mean that we can`t get profit from it, this only means that it is bad enough for investment. Only when all the market grows and everything brings easy money.

[Haunebu]

Casino tokens are only relevant for as long as the sites that they are linked to exist. What do you think happens to them if the sites suddenly disappear one day?

I think it's worth investing in them as long as the sites that they are linked to are popular and reputed sites which are trustworthy. However, I don't advise investing big amounts into any of these tokens no matter how legit they are op.

[Cookdata]

<snip>

I think all these three casino tokens are good and are already established good reputation and market. But to choose between the three right now, I think I will not choose the one that has been risen up in value. There could be reasons that it's only a short period of hype, but I believe on other coins that has been down so much right now, I think they will recover soon enough. Not an investment advice.

It is a product that can give value to a token, if a casino and the team can do more than the platform itself, investors wouldn't worry about short-term growth like the way you fear now, one of the problems with these casinos is that you can never predict their longevity and be sound to the demands of players. As long as players keep using the medium to bets, there will always be a utility for the token and employing a burning mechanism will improve the value over time.

[YOSHIE]

And why OWL keeps on going up in price? Honestly their site doesn't seem to be very unique or impressive - anyone has a credible explanation who is behind the price rise of that OWL token?!

All we know here, coins go up on demand, even though OWL coins, are rarely used by users in games on their own gambling sites, but there is a high chance they have something else that makes OWL fly.

My guess, if I'm not mistaken, as far as I know, the OWL Team has already completed the campaign stages (1) and (2) in this forum, plus the sig campaign, I believe they have got big investors for their project, which makes OWL get light green in crypto market.

I think, that's the reason I think that makes OWL coin go up at the moment, I saw on MEXC exchange, their trading volume is quite large, maybe that is also one of the factors, the point is demand.

[coolcoinz]

Casino tokens are only relevant for as long as the sites that they are linked to exist. What do you think happens to them if the sites suddenly disappear one day?

I think it's worth investing in them as long as the sites that they are linked to are popular and reputed sites which are trustworthy. However, I don't advise investing big amounts into any of these tokens no matter how legit they are op.

Exactly!

I don't invest in these token because I see the value in Bitcoin and all my investment money goes to bitcoin, but I'll give you a simple comparison of the two:
When you invest in bitcoin you risk that it goes down due to some external problems like war, or internal problems like the transaction bottleneck in the past or an exchange hack.
When you invest in a casino token you risk that:
casino goes bankrupt
casino gets banned in some countries
casino scams and gets bad rep
token gets delisted on some exchanges
all tokens take a hit because of a bitcoin drop or because bitcoin faces some problems mentioned above and drags the market down
and probably some more

[ultrloa]

Casino tokens are only relevant for as long as the sites that they are linked to exist. What do you think happens to them if the sites suddenly disappear one day?

I think it's worth investing in them as long as the sites that they are linked to are popular and reputed sites which are trustworthy. However, I don't advise investing big amounts into any of these tokens no matter how legit they are op.

For sure it will also collapsed since many investors will keep looking after the strength of the casino for them to determine if the token still good to hold or not. But even if there's something potential with this casino owned tokens still I don't grab any of them and preferred to buy old quality coins which prove their existence for many bear market they go thru.

[AmoreJaz]

Casino tokens are only relevant for as long as the sites that they are linked to exist. What do you think happens to them if the sites suddenly disappear one day?

I think it's worth investing in them as long as the sites that they are linked to are popular and reputed sites which are trustworthy. However, I don't advise investing big amounts into any of these tokens no matter how legit they are op.

For sure it will also collapsed since many investors will keep looking after the strength of the casino for them to determine if the token still good to hold or not. But even if there's something potential with this casino owned tokens still I don't grab any of them and preferred to buy old quality coins which prove their existence for many bear market they go thru.

it really depends on the user. but for example, some gamblers are preferring to hold some casino tokens because they are actively playing on that casino. and there are some perks that come with it if you are a holder of their token. but i do agree, that in the long-term scenario, if you will not be an active player of the site, you need to make sure you are up to date with the site if you decide to hold their tokens. because the scenario of shutting down without a warning is always there. and if that happens, your tokens will be worthless.

[goinmerry]

When you invest in a casino token you risk that:
casino goes bankrupt
casino gets banned in some countries
casino scams and gets bad rep
token gets delisted on some exchanges

That's why it's called "risk" in the first place, right? Obviously, what you have mentioned are all "what if".
 
Of course, we will just face the risk of something that is worth putting a shot. Why invest in casino tokens just that simple without even doing further research if those are somehow worth putting money into? The DYOR acronym is not created for nothing.

There's no point in comparing it to Bitcoin for obvious reasons our options are not only limited to Bitcoin-related investments.

[Jawhead999]

It's normal you will see few token price aren't follow Bitcoin price since not all tokens will always stick with Bitcoin price. Probably not today, but tomorrow or next week the token price will follow Bitcoin price.

Either BFG, OWL or TFS are just same tokens that have a purpose to make people want to gamble on those casinos and they will offer some promotions depend on their project, but most of them offer dividend yield.

[smartaction]

OWL is actually down. You need to get your perspective fixed guys
It did not lose a lot of value in the last 6 months because it was already down from its high in November 2021, where it was trading for 0,5 USD and in December it was back to 0,17 USD. That's more than 60% loss in value and it continued to go down because now it's 0,11 USD so it's down almost 75% from its high and that's more than Bitcoin. Saying that it's a better investment in these hard times and that it's being stable is far from the truth.

It went down from $0.50 to $0.17 at times when Bitcoin wasn't falling that much, right?

All coins in the market have lost their 60-80% value along with Bitcoin. But compared to that, the price of gambling coins has not decreased much. But as the price of Bitcoin rises, so does the price of gambling coins. So I mean buy and hold gambler coins are more likely to profit than lose.

Possible to happen if you are holding casino token that has reliable business. If the casino shows good progress, the chance of your
Investment to grow is really high. You can say that the future is bright and adding more when you have spare is also a good choice
to do. Keep in mind that there are always good reason behind each project and casino coins, as utility can share investors passive

benefits.

We can't guaranteed the profit for any cryptocurrency coins. But we can make some guesses. Gambling tokens can be a good way to get good profits.  But we cannot guarantee it. But as long as I have been looking at BFG & OWL tokens, I feel that these tokens are capable of giving good profits.

[tabas]

I think it's worth investing in them as long as the sites that they are linked to are popular and reputed sites which are trustworthy. However, I don't advise investing big amounts into any of these tokens no matter how legit they are op.

I agree with you, if you're someone that wants to expand your portfolio and you think that one condition is that there's an actual business. So, aside from those token exchanges, an option could be those casino tokens from the popular ones. There have been attempts of having the same business model and tokenomics but majority of them didn't survived. So, those that are remaining and has a good volume and market capitalization for their tokens, there's a need to know about the basics of them before investing. But, I agree that do not gamble much with them if they're not that popular.

[Cling18]

Casino tokens are only relevant for as long as the sites that they are linked to existing. What do you think happens to them if the sites suddenly disappear one day?

I think it's worth investing in them as long as the sites that they are linked to are popular and reputed sites that are trustworthy. However, I don't advise investing big amounts into any of these tokens no matter how legit they are op.

The reputation of the casino site that they represent will reflect on their reputation as a coin so I guess coins linked to good casino sites have a good future but I think they aren't good for long-term investment especially if we seek assurance of maximizing our gains. These coins might be popular but I still prefer well-established altcoins over them.

[stomachgrowls]

Casino tokens are only relevant for as long as the sites that they are linked to existing. What do you think happens to them if the sites suddenly disappear one day?

I think it's worth investing in them as long as the sites that they are linked to are popular and reputed sites that are trustworthy. However, I don't advise investing big amounts into any of these tokens no matter how legit they are op.

The reputation of the casino site that they represent will reflect on their reputation as a coin so I guess coins linked to good casino sites have a good future but I think they aren't good for long-term investment especially if we seek assurance of maximizing our gains. These coins might be popular but I still prefer well-established altcoins over them.

Wont be an assurance because even a site is having a good reputation and do well on the market in terms of gambling industry but still its token wont really be totally getting the same success on what you do see on the platform because people do still end up on using those common coins in the market and would mostly ignore their gambling token and investing with it.Majority of players wont really be bothering themselves about investment or supporting on the site that they've been playing via through investment in most cases but well there are people who do mind about on the other part or side
which is on that investment part.

Gambling tokens/coins arent that bad of an option as an investment but not really that always where these people do make out such decision and its evident basing on these tokens prices
as of this moment.

[Hispo]

-snip-

The reputation of the casino site that they represent will reflect on their reputation as a coin so I guess coins linked to good casino sites have a good future but I think they aren't good for long-term investment especially if we seek assurance of maximizing our gains.

Reputation and utility. If the token is proven to offer good benefits to its holders within the casino, that would increase the demand among users of such service, helping the price to pump as well. Also, like the case of exchanges (Binance, for example), casinos can use some strategies like scheduled burning of tokens to help the price continue growing or to stay above a desired threshold.

These coins might be popular but I still prefer well-established altcoins over them.

And makes sense, since crypto should be about decentralization and those casino tokens are obviously not decentralized.

[qwertyup23]

Wouldn't really consider those tokens on the same level or at least attribute the market that they have as the same as the market of Bitcoin. Those tokens are for casinos after all, and the market that they have is rather different from the investors and users of Bitcoin, not to mention that they're relatively less known compared to the big tokens. There's also the possibility that it's artificially manipulated since it's much easier to control the market for these kinds of tokens imo.

Plus, the token seems to be used on the casino itself for benefits, so that may be a reason for the increase in price, though it may just be temporary in the end due to a temporary increase in the amount of players/users.

This makes sense- these tokens were primarily created by the gambling institution itself, so they are indeed in the risk of price/supply manipulation.

The difference between cryptocurrencies and casino tokens is that, the price is primarily determined by the supply/demand. The more people that use these currencies, the more the prices may increase/decrease, though the former is much more volatile compared to the latter. But you are right, they are subject to the risk of price manipulation since the one in control is the casino owner, himself.

I guess even if the prices of casino tokes kept on increasing, they are still entirely different from cryptocurrencies as a whole.

[Haunebu]

There's no point in comparing it to Bitcoin for obvious reasons our options are not only limited to Bitcoin-related investments.

True, but the risk if far greater in this case when compared to investing in popular cryptocurrencies which is why @coolcoinz makes a valid point.

We can't guaranteed the profit for any cryptocurrency coins. But we can make some guesses. Gambling tokens can be a good way to get good profits.  But we cannot guarantee it.

This logic applies to literally every single cryptocurrency out there. This entire market is an extremely volatile market where you should only invest what you are willing to lose at the end of the day.

[Bttzed03]

~
These coins might be popular but I still prefer well-established altcoins over them.

What is your definition for a well established altcoin? Working product that gaining profit right? What exactly is difference between this gambling tokens that has already a utility on there working product casino to other established altcoins?

It's quite simple. Well established altcoins are usually measured by their marketcap/popularity and their longevity. It can be compared to a product that has established its own brand over the years and survived multiple challenges. Compared to most top 10 coins/tokens, these casino tokens are still too small in terms of trade volume or just too young in terms of longevity.

BFG - launched 2020
OWL - launched 2021

[iv4n]

Casino tokens are only relevant for as long as the sites that they are linked to exist. What do you think happens to them if the sites suddenly disappear one day?

I think it's worth investing in them as long as the sites that they are linked to are popular and reputed sites which are trustworthy. However, I don't advise investing big amounts into any of these tokens no matter how legit they are op.

Exactly!

I don't invest in these token because I see the value in Bitcoin and all my investment money goes to bitcoin, but I'll give you a simple comparison of the two:
When you invest in bitcoin you risk that it goes down due to some external problems like war, or internal problems like the transaction bottleneck in the past or an exchange hack.
When you invest in a casino token you risk that:
casino goes bankrupt
casino gets banned in some countries
casino scams and gets bad rep
token gets delisted on some exchanges
all tokens take a hit because of a bitcoin drop or because bitcoin faces some problems mentioned above and drags the market down
and probably some more

From an investor's perspective, both of you are right... but why does everyone forget the fact that casino tokens are earned by playing in those casinos? We gamble, play our favorite games, and get something in return...

For example, staking BFG will give you passive income in BTC too, so it's a nice way to get your hands on more BTC on daily basis... and BFG price (as the prices of some other casino tokens) is pretty stable.

[delfastTions]

~
These coins might be popular but I still prefer well-established altcoins over them.

What is your definition for a well established altcoin? Working product that gaining profit right? What exactly is difference between this gambling tokens that has already a utility on there working product casino to other established altcoins?

It's quite simple. Well established altcoins are usually measured by their marketcap/popularity and their longevity. It can be compared to a product that has established its own brand over the years and survived multiple challenges. Compared to most top 10 coins/tokens, these casino tokens are still too small in terms of trade volume or just too young in terms of longevity.

BFG - launched 2020
OWL - launched 2021

However, these tokens have a specific purpose.  They are used in specific casinos.  And very many altcoins, by and large, it is not at all clear why they are needed?  Well, of course, if you do not take into account the obvious desire of the devs who organized them to get rich at the first possible pump.  Turning them into bitcoin ethereum.  Yes, how many of these coins have we all already observed and how they turn into a scam together.

Compared to BFG, such altcoins are generally simply useless and can only be played in the development of new wallets and exchanges.  Nobody needs them anymore.

[mak013]

However, these tokens have a specific purpose.  They are used in specific casinos.  And very many altcoins, by and large, it is not at all clear why they are needed?  Well, of course, if you do not take into account the obvious desire of the devs who organized them to get rich at the first possible pump.  Turning them into bitcoin ethereum.  Yes, how many of these coins have we all already observed and how they turn into a scam together.

Compared to BFG, such altcoins are generally simply useless and can only be played in the development of new wallets and exchanges.  Nobody needs them anymore.

The same can be said about these tokens - most of the holders will sell them at the first pump. And they have no purpose other than to get money from investors. I agree that most altcoins are worthless, but these tokens look the same. And they use the blockchain - from one of these altcoins. It is better to use this altcoin than create another token.