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?
I think casinos are making much more than any trading platform in the crypto world. The reason is simple, people love to make money and also fast, they also prefer to not wait like what will happen with EUR/USD pair and act accordingly to profit a bit, nowadays people want immediate results and such results are only available in a casino. Another reason are these streamers promoting these instantly big wins that they are hitting when playing in their favorite casino, something totally absent from the trading counterparts, in trading I watch only "how to" videos which are not at all fun to watch and don't inspire like the streamers do. I think these are enough reasons as why casinos are doing better than the trading industry.