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.
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 don't really agree that staking is very risky. Betfury has proven themself as a legit casino but there is always a risk involved. The APY that they currently propose of 53% is not bad at all in my eyes and has already been a lot higher also in the past. Do your own research and don't put all your eggs in the same basket.
Staking is usually using internal token where it can be earned by buying or wagering in the casino. So the risk is when we are wagering and/spending the money to earn the internal token. Once we stake our token, I dont think there is a risk anymore since there is no more chance of losing money unless we keep trying to earn more tokens. All in all, any investment is risky because we are spending money on it unless we can get the internal token for free.