Casino vs. Stoc,Forex&Crypto Broker: Who's Really Playing You in the Money Game - page 15.

davis196

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Quote from: fingnome on September 28, 2023, 06:02:02 AM

You know how casinos lay it all out, they're taking a gamble just like us? But get this, brokers might just be outdoing them in their own sly way. I’m saying brokers might actually be worse. Why? They’ve got this neat, little setup where they rake in their shares through bid-offer spreads and commissions, all while carrying zero market risk. It’s like having their cake and eating it too, but in secret. We’re all out here rolling the dice, while brokers are the house, cashing in risk-free. What’s your take? Are brokers just silently stacking the deck, snagging a surefire win with every trade we make?

Are you talking about brokers or bookies? Many forum members obviously think that you are talking about bookies, but I assume that you are talking about brokers. Grin

This topic belongs to the Gambling Discussion forum(or maybe the Trading Discussion forum).
The brokers, who are doing such shady practices are breaking the law. They must be prosecuted and sentenced guilty.
Nobody is forcing you to use the services of a financial broker. Trading on the financial markets has become more accessible than ever.
Why would anyone want to use a broker nowadays? Some people are falling for various "trading broker" scams, where the brokers are offering "high and guaranteed profits". Those scams have nothing to do with the legal and whitehat financial brokerage.

fingnome

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Quote from: Haunebu on September 28, 2023, 02:04:33 PM

I have to disagree here. Brokers like Betinasia, Sportmarket etc are invaluable to many punters like me who cannot access certain exchanges due to geolocation restrictions(Betfair, Pinnacle etc).

They offer lower commissions than those exchanges and their withdrawal fees are okayish while casinos are less valuable in comparison and they earn way higher profits.

It’s clear that brokers like Betinasia and Sportmarket are providing a crucial service for individuals facing geolocation restrictions, offering accessibility and more reasonable fees. I acknowledge the value in this and the distinct differences between brokers and casinos.

My observation is targeted towards the instances when brokerage platforms might inadvertently encourage a gambling-like environment, particularly by promoting excessive trading and other similar activities. It's this subtle push towards "gambling" that I aim to highlight. The intention is not to undervalue brokers but to bring attention to certain practices that may not be in the best interest of investors.

fingnome

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Quote from: OgNasty on September 28, 2023, 12:39:04 PM

Quote from: fingnome on September 28, 2023, 06:02:02 AM

You know how casinos lay it all out, they're taking a gamble just like us? But get this, brokers might just be outdoing them in their own sly way. I’m saying brokers might actually be worse. Why? They’ve got this neat, little setup where they rake in their shares through bid-offer spreads and commissions, all while carrying zero market risk. It’s like having their cake and eating it too, but in secret. We’re all out here rolling the dice, while brokers are the house, cashing in risk-free. What’s your take? Are brokers just silently stacking the deck, snagging a surefire win with every trade we make?

Of course brokers are making money on every trade you make. That’s their business. If they were gambling on trades to make money, then it would be safe to assume that at some point they would lose big possibly effecting the balances of their customers. It’s easier to take a small piece of all the action then to try and gamble for a bigger piece. That benefits nobody.

You’re right in noting that brokers earning from trades is standard and necessary for their business. My apprehension lies in brokers pushing activities that resemble gambling, such as encouraging excessive trading and tournaments. This shift blurs the lines between investing and gambling, possibly leading to risky financial behavior for individuals. Your point about the stability of commission earnings is crucial, and it highlights the importance of maintaining clear boundaries in the brokerage industry. Thank you for adding this essential perspective to the dialogue.

cabron

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I have to believe exchanges are also playing us by manipulating the market that newbies have to sell at low prices. Those futures markets must be a money maker for these exchanges because they may not be just an spectator in the game, they play the game itself. With the transparency in blockchain, in which they know how much is coming in and out of the exchanges, they should know what to do to profit from a situation.

For casinos, yup we are all gamblers, we know what they do. Therefore both are making money.

coolcoinz

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Quote from: Lakai01 on September 28, 2023, 02:12:46 PM

What I see similarly is the added value of the brokers for people in countries with geolocation restrictions, there one accepts quite a bit higher fees to still have the chance to play.

These people are being exploited, but who is really doing the exploiting? The broker or the government, or maybe both?
If you're restricted from playing because of your government policies, it's the government you should blame for this, not the broker that charges you more for a chance to play. The choice is always yours.
You can stop gambling like a law obeying citizen. You can leave the country. You can try to fight by organizing protests... Or you can pay a higher fee and keep playing.

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Quote from: Haunebu on September 28, 2023, 02:04:33 PM

I have to disagree here. Brokers like Betinasia, Sportmarket etc are invaluable to many punters like me who cannot access certain exchanges due to geolocation restrictions(Betfair, Pinnacle etc).

They offer lower commissions than those exchanges and their withdrawal fees are okayish while casinos are less valuable in comparison and they earn way higher profits.

This and many more are the reason why stock brokers have become unpopular among newbies, because of a lot of commission and restrictions, this have made things hard for most newbies the most annoying is the part that their commission charges are way higher and without differentiations of what an external and internal transaction are and this has made them not to be a good option because in gambling when you make a winning you only pay for withdrawal fees and aside from that, there is no other hidden charges or wallet transfers commission as we see with most or all forest brokers

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Quote from: Haunebu on September 28, 2023, 02:04:33 PM

-snip-
They offer lower commissions than those exchanges and their withdrawal fees are okayish while casinos are less valuable in comparison and they earn way higher profits.

You mean higher fees for withdrawals? Which exchanges/casinos do you think that would be? I am on some casinos and exchanges on the road, unfair or too high fees have not come across me for a very long time.
What can be true is that the withdrawal fee for certain altcoins is higher (e.g. ETH), but that is usually not so much the fault of the exchange/casino, but is due to the underlying blockchain, which simply requires very high fees at certain times.

What I see similarly is the added value of the brokers for people in countries with geolocation restrictions, there one accepts quite a bit higher fees to still have the chance to play.

Haunebu

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I have to disagree here. Brokers like Betinasia, Sportmarket etc are invaluable to many punters like me who cannot access certain exchanges due to geolocation restrictions(Betfair, Pinnacle etc).

They offer lower commissions than those exchanges and their withdrawal fees are okayish while casinos are less valuable in comparison and they earn way higher profits.

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Quote from: fingnome on September 28, 2023, 06:02:02 AM

You know how casinos lay it all out, they're taking a gamble just like us? But get this, brokers might just be outdoing them in their own sly way. I’m saying brokers might actually be worse. Why? They’ve got this neat, little setup where they rake in their shares through bid-offer spreads and commissions, all while carrying zero market risk. It’s like having their cake and eating it too, but in secret. We’re all out here rolling the dice, while brokers are the house, cashing in risk-free. What’s your take? Are brokers just silently stacking the deck, snagging a surefire win with every trade we make?

Of course brokers are making money on every trade you make. That’s their business. If they were gambling on trades to make money, then it would be safe to assume that at some point they would lose big possibly effecting the balances of their customers. It’s easier to take a small piece of all the action then to try and gamble for a bigger piece. That benefits nobody.

Gozie51

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Quote from: Mr. Magkaisa on September 28, 2023, 11:08:50 AM

- Actually, I'm wondering if the broker is related or similar to the casino. Because it seems far-fetched to compare a broker to gambling in a casino. Isn't that broker only for Forex traders? I can't see its connection here at the casino.

I guess op just wanted to throw in the broker stuff here instead of the traders wing otherwise I also don't see correlation of brokerage in gambling or casinos because that is a direct stake or the casino which is an end to itself and not a middle man like the broker would do in the financial market. However, brokers don't only operate in the forex trading, they also exist banking and insurance, stocks, derivatives market etc.

Slow death

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In my opinion, casinos are the biggest money makers, because when people play they rarely win a lot of money, so at the end of the day probably a very small number wins while a much larger number lost money and this loss of money is what customer had, will become the casino's profit only after the casino pays all operating costs. while on the Broker side, they make money from people's fees, but at least the people who buy low and keep doing hodl will come out with a profit. something interesting that you said and that I think is sad and that the Broker knows that day trading is not profitable, but even so he keeps sending emails with promotions

to encourage people to continue day trading because only then will the Broker make a profit, in other words, it is the type of business in which the Broker uses methods that I consider exaggerated to achieve profits. They don't care about the financial situation of any client, on the contrary, they even put out more and more promotions for people to continue day trading and as a result they spend the whole day losing money and paying those high fees and making the Broker very rich. I keep wondering if the Broker pays taxes, in my opinion they should pay taxes because they charge high fees to clients

Pmalek

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The average Joe doesn't need to think too much about it. The only thing that matters is the money you will get in the end minus whatever fees you need to pay either to the broker or the casino. Make those calculations and check who gives you the better odds before depositing your money. Having said that, I have never used a broker of any kind.

wallet4bitcoin

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Quote from: fingnome on September 28, 2023, 06:02:02 AM

You know how casinos lay it all out, they're taking a gamble just like us? But get this, brokers might just be outdoing them in their own sly way. I’m saying brokers might actually be worse. Why? They’ve got this neat, little setup where they rake in their shares through bid-offer spreads and commissions, all while carrying zero market risk. It’s like having their cake and eating it too, but in secret. We’re all out here rolling the dice, while brokers are the house, cashing in risk-free. What’s your take? Are brokers just silently stacking the deck, snagging a surefire win with every trade we make?

Brokers are the big boys in every game they find themselves. They make more from those who think they are making big bucks. Even those who make big bucks also pay to the brokers, whether or not you make profit, you must have paid the brokers in between the transaction, its non-negotiable for every user that uses a broker as a window. Brokers are the ones playing big in the money game.

Mr. Magkaisa

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- Actually, I'm wondering if the broker is related or similar to the casino. Because it seems far-fetched to compare a broker to gambling in a casino. Isn't that broker only for Forex traders? I can't see its connection here at the casino.

When playing a casino here in the crypto space, there is no need for a broker; there is no way that someone else will play your gambling; instead, we ourselves will control our betting, whether we are lucky or not. Although we also know that the house always wins the game in the casino,

Gozie51

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I think you would have gotten better explanation of how broker business works in the trading discussion board because gamblers here already use casino business.

However, your thread made me to research on what that works with the brokers and if they have any risk in the business and yes they do. Brokers are the middle man that is a channel to customers trading platform and so if in the case of lost trade where the trader has over traded in leverage, it is the broker who bears the excess fund.

A broker can lose their license and fold up in litigation by an aggrieved customer for whatever reason or complaints of ill-management of funds. Also just like other businesses to manage brokerage business takes alot of marketing, management and operational cost.

I feel the casino are the one playing in the money game, apart from setting up their site and ads, they steadily profit directly from customers loses.

I found this on brokers

Wind_FURY

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Quote from: fingnome on September 28, 2023, 06:02:02 AM

You know how casinos lay it all out, they're taking a gamble just like us?

But they have the edge at their side, which makes the player a long term loser. If you're playing for entertainment, nothing wrong with that. If you're playing for profit, don't play in the casino.

Quote

But get this, brokers might just be outdoing them in their own sly way. I’m saying brokers might actually be worse. Why? They’ve got this neat, little setup where they rake in their shares through bid-offer spreads and commissions, all while carrying zero market risk. It’s like having their cake and eating it too, but in secret. We’re all out here rolling the dice, while brokers are the house, cashing in risk-free. What’s your take? Are brokers just silently stacking the deck, snagging a surefire win with every trade we make?

Isn't that called, market-making? Someone has to be in there to start the "exchange", and provide the liquidity for the bid-ask spread.

But the broker's "edge" is through the fees. If you "win" money consistently from trading after fees, then you're a "profitable trader".

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Quote from: fingnome on September 28, 2023, 06:02:02 AM

You know how casinos lay it all out, they're taking a gamble just like us? But get this, brokers might just be outdoing them in their own sly way. I’m saying brokers might actually be worse. Why? They’ve got this neat, little setup where they rake in their shares through bid-offer spreads and commissions, all while carrying zero market risk. It’s like having their cake and eating it too, but in secret. We’re all out here rolling the dice, while brokers are the house, cashing in risk-free. What’s your take? Are brokers just silently stacking the deck, snagging a surefire win with every trade we make?

Every good gamblers know its more profitable to avoid a broker as much as possible. The more the brokers involved lesser is the actual odds you get.
But sometimes in some cases, it's impossible to boycott the broker. You may not realize it but a large number of online gambling sites are entirely a broker who hosts every bets on other sites. Similarly most slots offered in all popular and otherwise site are from the same provider just being hosted on for commission.
IRL, a broker might add services that may enable gamblers with perks like anonymity, hassle free gambling, easier access and assistance settling disputes.

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Quote from: fingnome on September 28, 2023, 06:02:02 AM

You know how casinos lay it all out, they're taking a gamble just like us? But get this, brokers might just be outdoing them in their own sly way. I’m saying brokers might actually be worse. Why? They’ve got this neat, little setup where they rake in their shares through bid-offer spreads and commissions, all while carrying zero market risk. It’s like having their cake and eating it too, but in secret. We’re all out here rolling the dice, while brokers are the house, cashing in risk-free. What’s your take? Are brokers just silently stacking the deck, snagging a surefire win with every trade we make?

Brokers only play idiots who believe that they play a role in improving their trades/actions.They are not related into gambling that much or at least I am not aware of such brokers as of yet while I know tons,really really tons of them offering their services to people who trade or do a lot of buying in exchanges and stocks.

They are winning a lot of money sure but as I said only from people who deal with them and lately I have seen fewer and fewer people using them so that is a good thing overall.In gambling and casino though the casino provider has setup a house edge which promises overall profit to the casino in the long run and that's it.

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Quote from: fingnome on September 28, 2023, 06:02:02 AM

You know how casinos lay it all out, they're taking a gamble just like us? But get this, brokers might just be outdoing them in their own sly way. I’m saying brokers might actually be worse. Why? They’ve got this neat, little setup where they rake in their shares through bid-offer spreads and commissions, all while carrying zero market risk. It’s like having their cake and eating it too, but in secret. We’re all out here rolling the dice, while brokers are the house, cashing in risk-free. What’s your take? Are brokers just silently stacking the deck, snagging a surefire win with every trade we make?

The broker is similar to that bank in that you let him retain your money and then he grows it at a higher rate than the percentage you agreed upon. Because he has your money, it appears that he can lend it and earn a high interest rate—for example, 30%—but will only offer you 5%.

As a gambler, you have your money and control it, whereas the casino controls the game on which you stake money. That is why gamblers frequently lose, and just a few people always win here.

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Quote from: fingnome on September 28, 2023, 06:02:02 AM

You know how casinos lay it all out, they're taking a gamble just like us? But get this, brokers might just be outdoing them in their own sly way. I’m saying brokers might actually be worse. Why? They’ve got this neat, little setup where they rake in their shares through bid-offer spreads and commissions, all while carrying zero market risk. It’s like having their cake and eating it too, but in secret. We’re all out here rolling the dice, while brokers are the house, cashing in risk-free. What’s your take? Are brokers just silently stacking the deck, snagging a surefire win with every trade we make?

If it's a possibility, why wouldn't they be? The entire casino industry is built upon exploitation and gaining edge over others. This kind of theory is in line with the way the industry inherently is. It would not be at all surprising if this theory were true...though even if the truth was out there, do you think that would stop people from rolling the dice? Will or have you stopped rolling the dice after learning this possible fact? This is the larger, sadder point.

Topic: Casino vs. Stoc,Forex&Crypto Broker: Who's Really Playing You in the Money Game - page 15. (Read 2984 times)