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?
We cant actually say if they were that having those differences but to know that they are on different niche then you can expect that level of profitability would be that different. Whats common on here is that we've seen that there's that increase in numbers on which it signifies that they are that making profits with this business. The only difference on here is that the number of exchangers or trading business out there is much less but it doesnt mean that they arent making money, it is just that the competition is very high and to those who do build up a new platform would be having that very huge challenge in against with the competition on which most likely people or traders will definitely be sticking into those platforms on which they've seen that they have that good reputation or credible and thats why there are tons on the competition that being blown out in the water just because they dont able to sustain due to competition on which it is just that normal on every business.