Casino vs. Stoc,Forex&Crypto Broker: Who's Really Playing You in the Money Game

[Haunebu]

I have to disagree here. Brokers like Betinasia, Sportmarket etc are invaluable to many punters like me who cannot access certain exchanges due to geolocation restrictions(Betfair, Pinnacle etc).

They offer lower commissions than those exchanges and their withdrawal fees are okayish while casinos are less valuable in comparison and they earn way higher profits.

[1714867575]

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[1714867575]

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[Lakai01]

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They offer lower commissions than those exchanges and their withdrawal fees are okayish while casinos are less valuable in comparison and they earn way higher profits.

You mean higher fees for withdrawals? Which exchanges/casinos do you think that would be? I am on some casinos and exchanges on the road, unfair or too high fees have not come across me for a very long time.
What can be true is that the withdrawal fee for certain altcoins is higher (e.g. ETH), but that is usually not so much the fault of the exchange/casino, but is due to the underlying blockchain, which simply requires very high fees at certain times.


What I see similarly is the added value of the brokers for people in countries with geolocation restrictions, there one accepts quite a bit higher fees to still have the chance to play.

[Odusko]

I have to disagree here. Brokers like Betinasia, Sportmarket etc are invaluable to many punters like me who cannot access certain exchanges due to geolocation restrictions(Betfair, Pinnacle etc).

They offer lower commissions than those exchanges and their withdrawal fees are okayish while casinos are less valuable in comparison and they earn way higher profits.

This and many more are the reason why stock brokers have become unpopular among newbies, because of a lot of commission and restrictions, this have made things hard for most newbies the most annoying is the part that their commission charges are way higher and without differentiations of what an external and internal transaction  are and this has made them not to be a good option because in gambling when you make a winning you only pay for withdrawal fees and aside from that, there is no other hidden charges or wallet transfers commission as we see with most or all forest brokers

[coolcoinz]

What I see similarly is the added value of the brokers for people in countries with geolocation restrictions, there one accepts quite a bit higher fees to still have the chance to play.

These people are being exploited, but who is really doing the exploiting? The broker or the government, or maybe both?
If you're restricted from playing because of your government policies, it's the government you should blame for this, not the broker that charges you more for a chance to play. The choice is always yours.
You can stop gambling like a law obeying citizen. You can leave the country. You can try to fight by organizing protests... Or you can pay a higher fee and keep playing.

[cabron]

I have to believe exchanges are also playing us by manipulating the market that newbies have to sell at low prices. Those futures markets must be a money maker for these exchanges because they may not be just an spectator in the game, they play the game itself. With the transparency in blockchain, in which they know how much is coming in and out of the exchanges, they should know what to do to profit from a situation.

For casinos, yup we are all gamblers, we know what they do. Therefore both are making money.

[fingnome]

You know how casinos lay it all out, they're taking a gamble just like us? But get this, brokers might just be outdoing them in their own sly way. I’m saying brokers might actually be worse. Why? They’ve got this neat, little setup where they rake in their shares through bid-offer spreads and commissions, all while carrying zero market risk. It’s like having their cake and eating it too, but in secret. We’re all out here rolling the dice, while brokers are the house, cashing in risk-free. What’s your take? Are brokers just silently stacking the deck, snagging a surefire win with every trade we make?

Of course brokers are making money on every trade you make. That’s their business. If they were gambling on trades to make money, then it would be safe to assume that at some point they would lose big possibly effecting the balances of their customers. It’s easier to take a small piece of all the action then to try and gamble for a bigger piece. That benefits nobody.

You’re right in noting that brokers earning from trades is standard and necessary for their business. My apprehension lies in brokers pushing activities that resemble gambling, such as encouraging excessive trading and tournaments. This shift blurs the lines between investing and gambling, possibly leading to risky financial behavior for individuals. Your point about the stability of commission earnings is crucial, and it highlights the importance of maintaining clear boundaries in the brokerage industry. Thank you for adding this essential perspective to the dialogue.

[fingnome]

I have to disagree here. Brokers like Betinasia, Sportmarket etc are invaluable to many punters like me who cannot access certain exchanges due to geolocation restrictions(Betfair, Pinnacle etc).

They offer lower commissions than those exchanges and their withdrawal fees are okayish while casinos are less valuable in comparison and they earn way higher profits.

It’s clear that brokers like Betinasia and Sportmarket are providing a crucial service for individuals facing geolocation restrictions, offering accessibility and more reasonable fees. I acknowledge the value in this and the distinct differences between brokers and casinos.

My observation is targeted towards the instances when brokerage platforms might inadvertently encourage a gambling-like environment, particularly by promoting excessive trading and other similar activities. It's this subtle push towards "gambling" that I aim to highlight. The intention is not to undervalue brokers but to bring attention to certain practices that may not be in the best interest of investors.

[davis196]

You know how casinos lay it all out, they're taking a gamble just like us? But get this, brokers might just be outdoing them in their own sly way. I’m saying brokers might actually be worse. Why? They’ve got this neat, little setup where they rake in their shares through bid-offer spreads and commissions, all while carrying zero market risk. It’s like having their cake and eating it too, but in secret. We’re all out here rolling the dice, while brokers are the house, cashing in risk-free. What’s your take? Are brokers just silently stacking the deck, snagging a surefire win with every trade we make?

Are you talking about brokers or bookies? Many forum members obviously think that you are talking about bookies, but I assume that you are talking about brokers.
This topic belongs to the Gambling Discussion forum(or maybe the Trading Discussion forum).
The brokers, who are doing such shady practices are breaking the law. They must be prosecuted and sentenced guilty.
Nobody is forcing you to use the services of a financial broker. Trading on the financial markets has become more accessible than ever.
Why would anyone want to use a broker nowadays? Some people are falling for various "trading broker" scams, where the brokers are offering "high and guaranteed profits". Those scams have nothing to do with the legal and whitehat financial brokerage.
 

[Haunebu]

My observation is targeted towards the instances when brokerage platforms might inadvertently encourage a gambling-like environment, particularly by promoting excessive trading and other similar activities. It's this subtle push towards "gambling" that I aim to highlight. The intention is not to undervalue brokers but to bring attention to certain practices that may not be in the best interest of investors.

Yeah. That is true. They are kinda shady sometimes, but the pros outweigh the cons in this case which is why I still feel that legit brokers are more valuable than traditional FIAT and crypto casinos.

Nobody is forcing you to use the services of a financial broker. Trading on the financial markets has become more accessible than ever.
Why would anyone want to use a broker nowadays? Some people are falling for various "trading broker" scams, where the brokers are offering "high and guaranteed profits". Those scams have nothing to do with the legal and whitehat financial brokerage.

I think you are the one who is misunderstanding here. Op is clearly talking about betting brokers like Betinasia etc(Not financial brokers).

[Kakmakr]

I think both of them are doing the same thing in a different way. The Brokers are using someone else's money to gamble on the trading platforms and they take a fixed commission for that, where the casino are taking a profit from a fixed house edge.

So no matter what happens ....they get their profit and the investor and gambler are taking all the risk. There are complex systems at work, behind the scene that the average investor and gambler do not know about.... but those systems are designed to protect the profit of the Broker and the casino owner and shareholders.  

[killerfrost]

As far as I understand brokers and casinos carry out different activities and have different goals, casinos use games and rules that have been designed to ensure a long-term advantage to the casino silver and there is no way to reverse the outcome for sure in each trade.

The fact that casinos and brokers carry out different activities makes the discussion of comparisons between the two industries complicated. The general view is that both have the goal of making profit. Choosing a reputable and reputable broker is important to ensure that you are protected and receive the best service.

[fingnome]

As far as I understand brokers and casinos carry out different activities and have different goals, casinos use games and rules that have been designed to ensure a long-term advantage to the casino silver and there is no way to reverse the outcome for sure in each trade.

The fact that casinos and brokers carry out different activities makes the discussion of comparisons between the two industries complicated. The general view is that both have the goal of making profit. Choosing a reputable and reputable broker is important to ensure that you are protected and receive the best service.

You bring up an important distinction, and I understand your view. Brokers and casinos indeed have inherently different models and goals. Your emphasis on the importance of choosing a reputable broker is especially critical to ensure protection and quality service.

In alignment with my earlier thoughts, I share concerns when brokers move beyond their traditional role, integrating game-like and entertainment aspects to encourage frequent trading. This shift, in my view, narrows the gap between brokers and casinos, making the distinction less clear for the average individual. It's this blending of roles and potential erasure of clear boundaries that my initial discussion aimed to spotlight. Your insights contribute significantly to this conversation, and it's important that these diverse viewpoints are shared and considered. Thank you for your thoughtful response.

[fingnome]

I think both of them are doing the same thing in a different way. The Brokers are using someone else's money to gamble on the trading platforms and they take a fixed commission for that, where the casino are taking a profit from a fixed house edge.

So no matter what happens ....they get their profit and the investor and gambler are taking all the risk. There are complex systems at work, behind the scene that the average investor and gambler do not know about.... but those systems are designed to protect the profit of the Broker and the casino owner and shareholders.  

Your insight highlights the obscured systems that safeguard broker and casino profits, emphasizing the necessity for amplified transparency. Given brokers' push towards entertainment and gamification to encourage trading, perhaps a requirement to maintain a gambling license could be a step toward ensuring accountability and fairness. Your thoughts add a meaningful dimension to this dialogue, thank you.

[Gozie51]

Why would anyone want to use a broker nowadays? Some people are falling for various "trading broker" scams, where the brokers are offering "high and guaranteed profits". Those scams have nothing to do with the legal and whitehat financial brokerage.
 

Like is there ways you can trade on the financial market with ease without using a broker? I mean do traders have direct access to the financial global trading market without some kind of registration with an online trading platform or an exchange so to speak which is what is referred to as broker in the modern sense where you can access all the traded instruments, assets, fiat currency, cryptocurrency derivatives, stocks etc

[fingnome]

Why would anyone want to use a broker nowadays? Some people are falling for various "trading broker" scams, where the brokers are offering "high and guaranteed profits". Those scams have nothing to do with the legal and whitehat financial brokerage.
 

Like is there ways you can trade on the financial market with ease without using a broker? I mean do traders have direct access to the financial global trading market without some kind of registration with an online trading platform or an exchange so to speak which is what is referred to as broker in the modern sense where you can access all the traded instruments, assets, fiat currency, cryptocurrency derivatives, stocks etc

I see where you're coming from, but it feels like we're on different pages. Imagine going to a doctor for a cold and getting a pitch for a nose job. My worry? Brokers, who should be helping us navigate the financial world, are suddenly tossing dice and dealing cards, nudging us to gamble more than we planned. It’s this sly switch that’s got my alarm bells ringing! Your point is valid, but let's keep our brokers brokering and our casinos dealing, shall we?

[Gozie51]

Why would anyone want to use a broker nowadays? Some people are falling for various "trading broker" scams, where the brokers are offering "high and guaranteed profits". Those scams have nothing to do with the legal and whitehat financial brokerage.
 

Like is there ways you can trade on the financial market with ease without using a broker? I mean do traders have direct access to the financial global trading market without some kind of registration with an online trading platform or an exchange so to speak which is what is referred to as broker in the modern sense where you can access all the traded instruments, assets, fiat currency, cryptocurrency derivatives, stocks etc

I see where you're coming from, but it feels like we're on different pages. Imagine going to a doctor for a cold and getting a pitch for a nose job. My worry? Brokers, who should be helping us navigate the financial world, are suddenly tossing dice and dealing cards, nudging us to gamble more than we planned. It’s this sly switch that’s got my alarm bells ringing! Your point is valid, but let's keep our brokers brokering and our casinos dealing, shall we?

Surely there will be some twerking in the brokers modus operandi at least for letting you have a feel of the global financial market  but to the extent of it is what those trading should research on regarding the extent of which they are manipulated. Likewise, such twerking could be somewhere in the casinos house edge too and that is why we are having more casino review sites springing up because people believe that something could be happening in there and if nothing of such then they should play with casino that have little or no such to worry about. Just to say brokers and casinos are all in business to make profit.

[Wind_FURY]

       -    Actually, I'm wondering if the broker is related or similar to the casino. Because it seems far-fetched to compare a broker to gambling in a casino. Isn't that broker only for Forex traders? I can't see its connection here at the casino.

They're comparable in the context that they're both collecting a fee from their users, which gives the user lesser edge to an already negative edge situation in "the game".

When playing a casino here in the crypto space, there is no need for a broker; there is no way that someone else will play your gambling; instead, we ourselves will control our betting, whether we are lucky or not. Although we also know that the house always wins the game in the casino,

Perhaps it's more comparable to think about it like, a game in the casino = an altcoin in the market. Casino = takes a fee per bet. Broker/exchange = takes a fee per trade.

[CarnagexD]

As far as I understand brokers and casinos carry out different activities and have different goals, casinos use games and rules that have been designed to ensure a long-term advantage to the casino silver and there is no way to reverse the outcome for sure in each trade.

The fact that casinos and brokers carry out different activities makes the discussion of comparisons between the two industries complicated. The general view is that both have the goal of making profit. Choosing a reputable and reputable broker is important to ensure that you are protected and receive the best service.

In short, both. I mean we all play around the game. The casino wants you to keep playing, and brokers want you to keep investing. Both of them are in it to make money, that's for sure. And we do too, players play with the hope of winning. Casinos designed their games so smart that they initially allow players to win but in the long run, the house always wins. It’s all about chance and luck, and it's easy to get carried away. But brokers, they help you make informed decisions but they also charge fees for their services, making money. Both casinos and brokers are there to make a profit and you're playing your own game. You have control so play smart haha you're the one paying here

[dezoel]

You know how casinos lay it all out, they're taking a gamble just like us? But get this, brokers might just be outdoing them in their own sly way. I’m saying brokers might actually be worse. Why? They’ve got this neat, little setup where they rake in their shares through bid-offer spreads and commissions, all while carrying zero market risk. It’s like having their cake and eating it too, but in secret. We’re all out here rolling the dice, while brokers are the house, cashing in risk-free. What’s your take? Are brokers just silently stacking the deck, snagging a surefire win with every trade we make?

Aren't they basically in the same position? And aren't we aware of the fact that both gambling houses and brokers are charging us for the services they are offering to us? I think we do, and I don't really see a lot of difference between both. A broker charges fees on our trades and a house takes its share as a house edge, they both charge us for our withdrawals, and when we lose a bet in gambling or get liquidated in futures, they get all that we had at stake.

So, I don't really think that brokers are outdoing casino houses in the money game and are charging us more than we pay a casino house. I believe both businesses are doing great in terms of earning profits in their respective fields and we are getting the services we need, so it's basically how it works.

[EarnOnVictor]

Brokers are playing those who are using brokers, those who are trading with any form of broker, and using it on their daily trade. They are being exploited through commission fees, trading fees, liquidation, and every other means necessary that the customer will enrich the broker owners.

You are getting almost all wrong, brokerage is a business and service, a middleman between traders and the market, do you expect them to offer their service for free? Of course, it has to be with tokens, and I don't see how these little tokens they charge translate to playing their clients.

Mind you, there are two types of retail brokers, one is an internal market maker, they earn when their clients lose and they lose when their clients win (paid winning from their pocket. This arrangement is fair, I see no one playing their clients here once they do not deny their withdrawal.

The other one is connected directly to the raw pool of the market, in which their clients win directly from the market and lose to the market. The former however could gain from the trader's loss, spread, commission and swap (which you didn't mention), while the latter will only gain from spread, commission and swap. This is a fiar arrangement since they are deploying their resources and technology to ensure you have access to the market which ordinarily can't be possible without them.

Also, the former can gain from liquidation of position, but the latter can't. Above all, all are dispensing their services with fair marked terms and conditions, it is the choice of anyone to deal with them.