Today I was browsing websites of old, inactive cryptocurrencies and noticed that some of the domains are now taken over by online casinos. Honestly, wherever you look in the crypto world, you stumble upon gambling businesses. It really feels like this is the most profitable niche right now.
I came to finance through forex brokers, and I still remember people telling me: “Forex is like a casino - except in a casino, at least you can win.”
To me, running a financial market always seemed more profitable than running a casino.
But in crypto, is it the other way around? Are casinos making more money than trading platforms?
In both cases, you need to use good marketing to attract users. But I think that in the case of a casino, it will be faster money, because players most often play on events that take place on the day of the bet, so in the case of a loss for the casino, it is faster money. With trading platforms, this all happens much longer, because traders open longer-term transactions, and as I understand it, platforms most often earn on commissions, so maybe a well-built casino should bring in faster earnings.