Post
Topic
Board Speculation
Re: Is gambling with cryptocurrency the same as gambling at a casino? Differentiate
by
davis196
on 18/11/2024, 11:55:24 UTC
Cryptocurrency gambling can be seen as similar to gambling at a casino in the sense that both involve risking something of value in order to gain something else of value. You can be on the winning side today and on the losing side tomorrow too. However, here are some key differences between these gambling. Gambling games are games of chance where you could theoretically win or lose, but there is monetary value involved.
Gambling is based on chance, while cryptocurrency is based on mathematics/calculations and cryptography.
With gambling, you are betting against the casino house and board members, but with cryptocurrency you are betting against other people that have more or the same and similar amounts of money as you do.
In casino gambling there is usually a guaranteed win for them because they have an edge on their games while in crypto it requires strategies and skill to top up your game.

In gambling, you bet money on a certain outcome. If the outcome occurs according to your bet, you make profit. If it doesn't occur, your bet is lost.
In trading, you buy an asset(currency, gold, stocks, crypto, commodities, etc.) and you wait for the price of that asset to increase. If you sell at a lower price, you calculate a loss. If you sell at a higher price, you make profit. The bear strategy is a bit different than the bull strategy. You sell and wait for the price to drop, so you could buy at a cheaper price.
Trading isn't the same as gambling, it has different risk management and you don't rely on pure luck. I understand why so many people make the connection between trading and gambling, in both cases risk is involved and the probability of losing money is high.