Investing in Casino tokens such as BFG, OWL or TFS

[johhnyUA]

APY up to
59.89%

Also, if we look at your link, casino propose very small APY interest. A lot of staking sites propose something like 300 % or similar (sometimes even more)

I am aware of the risks involved with staking for high yield and I have no intentions to do so, just wanted to know more.
Also 53% is already risky enough imo, 300% definitely raises a red flag when comes to APY.

Maybe I'm wrong, but as i remember, APY should be very high. Due time it will decrease after a lot of people will join. Am i right? So in this case APY should be very high, like 200-300 %, because after few weeks it will be 40-50 %

As far as I am aware one of the only ways to actually stake in a relatively secure way is to do it with a very established coin, like Ether instead of tokens.

I can't call it secure way. Risk the same. You staking real crypto (eth) for some tokens, which if site/service disappear will cost zero.

[Hispo]

APY up to
59.89%

Also, if we look at your link, casino propose very small APY interest. A lot of staking sites propose something like 300 % or similar (sometimes even more)

I am aware of the risks involved with staking for high yield and I have no intentions to do so, just wanted to know more.
Also 53% is already risky enough imo, 300% definitely raises a red flag when comes to APY.

Maybe I'm wrong, but as i remember, APY should be very high. Due time it will decrease after a lot of people will join. Am i right? So in this case APY should be very high, like 200-300 %, because after few weeks it will be 40-50 %

As far as I am aware one of the only ways to actually stake in a relatively secure way is to do it with a very established coin, like Ether instead of tokens.

I can't call it secure way. Risk the same. You staking real crypto (eth) for some tokens, which if site/service disappear will cost zero.

I am not sure of the dynamics behind the APYs, I have assumed it can vary with the time but I dont know how much they vary, hopefully someone with more experience than I can answer the question.

Also, when I mentioned Ether staking I meant using Ether to become a validator within Ethereum blockchain itself, in that case I believe there is a clear difference between staking on a centralized service like a casino and staking to validate transactions in the advent of Ethereum 2.0, getting more Ether as reward.

[darkangel11]

I am not sure of the dynamics behind the APYs, I have assumed it can vary with the time but I dont know how much they vary, hopefully someone with more experience than I can answer the question.

Also, when I mentioned Ether staking I meant using Ether to become a validator within Ethereum blockchain itself, in that case I believe there is a clear difference between staking on a centralized service like a casino and staking to validate transactions in the advent of Ethereum 2.0, getting more Ether as reward.

I feel like with this you're drifting away from the theme of this thread. It's about investing in casino tokens, not staking ETH.

Casino tokens are risky just like NFTs and new altcoins. They are as risky as buying Luna at the bottom, but you can always earn on this move like people who bought Luna made some money when it pumped a few days ago but it doesn't prove that Luna is a good token or that investing in casino tokens is a good idea. It's gambling.

[Get-Paid.com]

I can't call it secure way. Risk the same. You staking real crypto (eth) for some tokens, which if site/service disappear will cost zero.

Any business can shut down its doors anytime, at any given moment.
But is it worth doing it?

As long as the business is profitable then its owners/stakeholders have an interest of sustaining the business, and not shutting it down.

Signs of bad practices can be slow withdrawals, lack of customer service, scam accusations and more - so far most trustworthy crypto sites have been proven to be the opposite.

If anything, businsses that you should be much more worried about are the brick & mortar ones, e.g. Ladbrokes in the UK:

https://bitcointalk.org/index.php?topic=5406098.msg60919240#msg60919240

William Hill shut down 119+ shops (and the number is growing) - even the stock price is not doing so great.

These businesses are in much more trouble because they are dealing with a much better competition from the Crypto sphere.... still, they got lots of British people to use their existing shops and online sites, but it slowly fades away. They cannot compete with the bonuses/VIP/perks that crypto sites offer their members - they literally have nothing to offer other than one single signup bonus, which is truly pathetic - long term they are the ones that might "disappear" and it "will cost zero" for them to do that.

[virasog]

As far as I am aware one of the only ways to actually stake in a relatively secure way is to do it with a very established coin, like Ether instead of tokens.

I can't call it secure way. Risk the same. You staking real crypto (eth) for some tokens, which if site/service disappear will cost zero.

This risk is involved in any cryptocurrency however some crypto is less risky compared to others that are riskier. However, when we talk about gambling casino tokens, it's easy to judge them as we know how much gambling casino is popular and what is their progress. Based on this we can increase or decrease our accumulation of gambling site tokens.
I think gambling sites tokens are worth investing.

[electronicash]

^ yes its worth investing and you can gradually increase your stake thru the revenue you receive from staking the casino tokens.

@Get-Paid.com a more alarming threat that we as investors of casino token is how SEC is considering all cryptocurrency to be a security. with that, they may be able to look for way to shutdown these casinos. when the casino is coerce to comply the regulations that can impose particularly to casino tokens.

[Hispo]

-snip-

I feel like with this you're drifting away from the theme of this thread. It's about investing in casino tokens, not staking ETH.

Casino tokens are risky just like NFTs and new altcoins. They are as risky as buying Luna at the bottom, but you can always earn on this move like people who bought Luna made some money when it pumped a few days ago but it doesn't prove that Luna is a good token or that investing in casino tokens is a good idea. It's gambling.

Okey, I'll drop the Ether conversation.

As far as I am aware one of the only ways to actually stake in a relatively secure way is to do it with a very established coin, like Ether instead of tokens.

I can't call it secure way. Risk the same. You staking real crypto (eth) for some tokens, which if site/service disappear will cost zero.

This risk is involved in any cryptocurrency however some crypto is less risky compared to others that are riskier. However, when we talk about gambling casino tokens, it's easy to judge them as we know how much gambling casino is popular and what is their progress. Based on this we can increase or decrease our accumulation of gambling site tokens.
I think gambling sites tokens are worth investing.

Yes, they are worth investing as I said earlier, they can serve as a way to diversify one's portfolio.
It is matter of seeking trustworthy casinos or webpages and do the research.
For example if Stake minted their own token, I am pretty sure thousands of players would buy them very quickly due to their good reputation and history since they opened, but it is unlikely they do it, in my opinion. I was also analizing those yields casinos offer to their native tokens but they do not seem to be worthty as a reliable passive income source, at least not for people with little money to stake. Perhaps it would be better just to buy, hold and find a good chance to realize gains.

[Get-Paid.com]

@Get-Paid.com a more alarming threat that we as investors of casino token is how SEC is considering all cryptocurrency to be a security. with that, they may be able to look for way to shutdown these casinos. when the casino is coerce to comply the regulations that can impose particularly to casino tokens.

It's quite unlikely the SEC would try to shut down these casinos - Pinnacle is an example to a casino/sportsbook that established itself offshore and had so many US channels covering its operations - to date, their business has only grown as they adopted Crypto among the first ones.

Crypto is here to stay, the SEC knows that.
What they can do is increase the interest rates and make the dollar more attractive - currencies with lower value attract less investors and that, by nature, like any other market, naturally - can create problems, and it seems like they are taking this direction already. (It's the Fed, not the SEC, but they surely collaborate etc.)

[Get-Paid.com]

Did you read through this thread? We told you OWL is the most risky one out there!!

So there you go - they got exposed now:

https://bitcointalk.org/index.php?topic=5378280.msg60899902#msg60899902

[kryptocanon]

I'm one of the BFG beneficiaries likewise OWL, so I comfortably can speak about BFG as it's been running and steadily paying for over a year now through staking on its platform without even getting to participate in any of its casino games. OWL looks more or less the same but it's still very much new in the system so it's advisable to proceed with caution.

[boyptc]

I'm one of the BFG beneficiaries likewise OWL, so I comfortably can speak about BFG as it's been running and steadily paying for over a year now through staking on its platform without even getting to participate in any of its casino games. OWL looks more or less the same but it's still very much new in the system so it's advisable to proceed with caution.

With owl, they're giving a decent percent of APR but if you're late on that then there's no more slot for you as it closes. While for BFG, I don't know if there's any limit for that slot who wants to earn from there.

But it seems that it's like that and whoever holds it and stake it there then they'll be like you who enjoys profiting from their token.

[danadc]

I'm one of the BFG beneficiaries likewise OWL, so I comfortably can speak about BFG as it's been running and steadily paying for over a year now through staking on its platform without even getting to participate in any of its casino games. OWL looks more or less the same but it's still very much new in the system so it's advisable to proceed with caution.

Thank you, I have some money saved, I want to invest, initially I thought about mining but it takes a long time and the profit is very little, I have also been buying some BFG but it scares me, I have seen that it loses value and I am not very expert in I have little knowledge of the world of investment trading, of tokens, so I do not dare to judge what may or may not happen, what I do know is that if bitcoin goes up everything goes up and everything is in a better way for those who invest

What things have you seen of the OWL token? I have seen that it has become very popular and I have seen that the volume is not much, but sometimes there are coins like that and then they go up like foam.

[X-ray]

I'm one of the BFG beneficiaries likewise OWL, so I comfortably can speak about BFG as it's been running and steadily paying for over a year now through staking on its platform without even getting to participate in any of its casino games. OWL looks more or less the same but it's still very much new in the system so it's advisable to proceed with caution.

that's pretty interesting to hear that and so, can you tell me whether it can be called as dividend as well? I know OWL but this token is not so good as BFG. I have ever seen BFG token but the only question is these gambling tokens are rarely entering into the big market. I didn't know why but it seems like cex was restricting the gambling token to be listed on the exchange site caused by so many applications but all getting rejected.

[electronicash]

@Get-Paid.com a more alarming threat that we as investors of casino token is how SEC is considering all cryptocurrency to be a security. with that, they may be able to look for way to shutdown these casinos. when the casino is coerce to comply the regulations that can impose particularly to casino tokens.

It's quite unlikely the SEC would try to shut down these casinos - Pinnacle is an example to a casino/sportsbook that established itself offshore and had so many US channels covering its operations - to date, their business has only grown as they adopted Crypto among the first ones.

Crypto is here to stay, the SEC knows that.
What they can do is increase the interest rates and make the dollar more attractive - currencies with lower value attract less investors and that, by nature, like any other market, naturally - can create problems, and it seems like they are taking this direction already. (It's the Fed, not the SEC, but they surely collaborate etc.)

good to know SEC will not take actions against them. does Pinnacle have a token?

its the tokens that SEC will be treating as security which gives them rights to regulate. although they may not have some arms to really punish these casinos, its the exchanges that will be regulated in order regulate the crypto such as casino tokens.

[Get-Paid.com]

good to know SEC will not take actions against them. does Pinnacle have a token?

They don't.

[ethereumhunter]

Thank you, I have some money saved, I want to invest, initially I thought about mining but it takes a long time and the profit is very little, I have also been buying some BFG but it scares me, I have seen that it loses value and I am not very expert in I have little knowledge of the world of investment trading, of tokens, so I do not dare to judge what may or may not happen, what I do know is that if bitcoin goes up everything goes up and everything is in a better way for those who invest

What things have you seen of the OWL token? I have seen that it has become very popular and I have seen that the volume is not much, but sometimes there are coins like that and then they go up like foam.

If you are afraid to invest in BFG or OWL, you can choose coins or other tokens that have more potential to increase so that what you invest can provide benefits later. What both projects need to do is how get their tokens into the major exchanges so that it will provide more opportunities for investors. The two tokens may indeed be waiting for market conditions to reverse so that they can increase as well as other tokens. So you should immediately choose another token or coin before everything changes.

[Fredomago]

@Get-Paid.com a more alarming threat that we as investors of casino token is how SEC is considering all cryptocurrency to be a security. with that, they may be able to look for way to shutdown these casinos. when the casino is coerce to comply the regulations that can impose particularly to casino tokens.

It's quite unlikely the SEC would try to shut down these casinos - Pinnacle is an example to a casino/sportsbook that established itself offshore and had so many US channels covering its operations - to date, their business has only grown as they adopted Crypto among the first ones.

Crypto is here to stay, the SEC knows that.
What they can do is increase the interest rates and make the dollar more attractive - currencies with lower value attract less investors and that, by nature, like any other market, naturally - can create problems, and it seems like they are taking this direction already. (It's the Fed, not the SEC, but they surely collaborate etc.)

The government will do everything to make sure that they will suck huge amount of money out from any kind of business, and crypto would not be exempted with it, like what you have said, they know that crypto will stay and they will not allow that they will not get anything, it's true as well that they won't try to close those businesses knowing that there are already numbers of people who are investing and using the services of each platform.

They will do everything from their power not to be left behind. It's about the money and government is really great in finding the fit ways to collect money from any types of business or money making industries.

[delfastTions]

@Get-Paid.com a more alarming threat that we as investors of casino token is how SEC is considering all cryptocurrency to be a security. with that, they may be able to look for way to shutdown these casinos. when the casino is coerce to comply the regulations that can impose particularly to casino tokens.

It's quite unlikely the SEC would try to shut down these casinos - Pinnacle is an example to a casino/sportsbook that established itself offshore and had so many US channels covering its operations - to date, their business has only grown as they adopted Crypto among the first ones.

Crypto is here to stay, the SEC knows that.
What they can do is increase the interest rates and make the dollar more attractive - currencies with lower value attract less investors and that, by nature, like any other market, naturally - can create problems, and it seems like they are taking this direction already. (It's the Fed, not the SEC, but they surely collaborate etc.)

The government will do everything to make sure that they will suck huge amount of money out from any kind of business, and crypto would not be exempted with it, like what you have said, they know that crypto will stay and they will not allow that they will not get anything, it's true as well that they won't try to close those businesses knowing that there are already numbers of people who are investing and using the services of each platform.

They will do everything from their power not to be left behind. It's about the money and government is really great in finding the fit ways to collect money from any types of business or money making industries.

Since the entire financial world is guided by those laws and decisions of USA government, then all restrictions on the use of cryptocurrencies and taxation rules adopted in usa will apply to the whole world.  
And by the way, now in the USA they began to discuss some kind of global legal act or law to regulate the circulation of cryptocurrencies.  So in a year or two, I think the issue of state control will be resolved.  
This, of course, is unpleasant for all owners of cryptocurrencies and limits the size of their accounts, since they will have to pay taxes.  
And most importantly, it will limit the freedom of disposal of these funds, especially in custodial wallets.

[RealMalatesta]

I'm one of the BFG beneficiaries likewise OWL, so I comfortably can speak about BFG as it's been running and steadily paying for over a year now through staking on its platform without even getting to participate in any of its casino games. OWL looks more or less the same but it's still very much new in the system so it's advisable to proceed with caution.

With owl, they're giving a decent percent of APR but if you're late on that then there's no more slot for you as it closes. While for BFG, I don't know if there's any limit for that slot who wants to earn from there.

But it seems that it's like that and whoever holds it and stake it there then they'll be like you who enjoys profiting from their token.

I understand that there would be a competition between each other as well, why wouldn't people try to shill a casino token when they do it for many others. But at the same time, we need to figure out the fact that maybe some of them are not that much better than the others.

I believe that the real question should be more about if you should invest into a casino token or not from the start, if you do not want to then it doesn't matter which one is better, and if you do want to then you could discuss which one is better or not. I personally did it on BFG and checked OWL and both of them had the same issue for me, which is the fact that they turn to a token company instead of keep being a casino and focus too much on the token.

[Hispo]

Probably most of you all already know the market is under pressure due to the news on USA inflation and the expectations after the Ethereum network update (the merge), which is nigh.

I felt curious and checked how the casino tokens mentioned on the OP behaved this week.








Fair Spin and Betfury seem to be holding on fair okey, but Owl suffered a dip some days ago.
I wonder why and whether this has something to do with the accusations mentioned before against Owl and their relationship with Sandbox.