Topic: Casino vs. Stoc,Forex&Crypto Broker: Who's Really Playing You in the Money Game - page 15. (Read 3441 times)

You've hit the nail on the head, and I appreciate your clarity. My oversight in not specifying the type of brokers has evidently caused some mix-up. Your elucidation about betting brokers and their operation is spot-on. I should have been more precise in my initial post to avoid this confusion. Betting brokers, providing access to popular sites, play a different role compared to financial brokers and the issues concerning them. Your insight is essential in keeping this discussion well-rounded and accurate. Thank you for bringing this to light.

So many people in this thread clearly have no idea who betting brokers are and are mixing them up with other kinds of brokers. Betting brokers provide punters access to popular sites which restrict their countries.

Examples include sites like Betfair, Pinnacle etc. They earn through commissions on winning and losing bets.

Correct me if I am wrong as no one is the most perfect being in this world, brokers are supposed to be for forex traders? Am I wrong or right? Because I believe that comparing gambling with brokers makes no sense.

Now if we are talking about which one is more reliable my answer will be none, you want a loyal broker? You have to find one, because there are many fake brokers out there that want you use you and your money.

It's not that different from gambling too as there are also many fake or bad casinos online this days, for example, the crazy 1xbit casino that scams their customers and are still in the business till today, crazy, isn't that crazy?

To round up my opinion, i believe that wherever there is money there will always be bad actors who will come as your solution by they came only yo take advantage of you, some people willingly stay away from every money making online because of bad actors, they are so scared of becoming their next victims.

Its their business so there's money involve for sure and with Broker, they are doing this since then, it takes a good profit for you to stay with the gambling industry.
If there's a secret partnership with both parties just to take advantage of the gambler then its scary, better not to use any broker or any third party games if you're afraid of this.
Casinos can't do everything alone, and having a broker or a third party provider is the best option for them to offer a great services.

That’s correct and I believe both of them benefit a lot from the gamblers so its a win win situation for both parties and as long as they continue to provide quality casino and games, their goal will remain intact. Gamblers are the one who are suffering here, we all know how the casino works and I believe some brokers are also connected with the casinos since they have to get a better partnership or else they will not make money here.

Shouldn't this depend on the agreement? I mean in most cases brokers are the ones that are paying. Let me explain to you how the casino that I worked with was establishing their wins and losses. They had few different games, all from different game providers, which mean they had like 6 if I remember right game providers that gave them about 300 games.

These games were automatically tied like an affiliate, which meant that if you gambled where I worked at that time, the money you lost went to the game provider, and then due to that affiliate income, the casino made some of it back, usually about 3% to 10% depending on the game, and when you lost they lost nothing. So at the end of every month, the casino got paid from the game provider.

Regardless of who benefits between the two then I can only say that they are just part of the industry that serves your needs. Nothing is free and both use their customers to make a profit - it's worth it for what and who they serve, right?

You need the casino to serve you to gamble - so you have to pay them instead of just betting your money. The same thing about brokers - you have to pay trading fees ^{[or whatever]} if you use the facilities they provide and it is all a win to win situation between customers and industry players. There is no blackmail because you have all agreed to the terms of service - if you say it's blackmail then re-read the conditions for using their services.

House and brokers are just like the same entities.

They earn from all of us and no matter how good you are, you'll come to that point that you'll end up losing money and then go back again. But it's like that if it's the house that's winning against us, there's a return from us that we'll also win somehow.

While in the brokers, yes, they're in between and they're just like taking comms and nothing to return from gamblers like us because that's how they work on.

You're right in pointing out the confusion, and yes, I am indeed referring to financial brokers, not bookies. It’s fantastic to hear that you might be using a trustworthy one or avoiding the arena altogether. But consider the instance of Robinhood, embroiled in legal action over the ‘gamification’ of investing. This just echoes my sentiment: some brokers might be blurring the lines, perhaps unknowingly steering their clients towards gambling. This shift underlines my suggestion that maybe they should indeed be bound by similar regulations as gambling institutions, ensuring clear and fair play in the financial field. Your perspective adds depth to this conversation, and I value it.

I appreciate your thoughtful perspective, highlighting the possible exploitation inherent in both the casino and brokerage industries. You're absolutely right, the thrill of the game and the hope of winning big will always draw people to casinos, fully aware of the house always having the upper hand. It's a choice made for fun, entertainment, and adrenaline.

However, when it comes to brokerages, the narrative shifts. People enter these platforms intending to invest their savings thoughtfully. The creeping in of gamification and entertainment aspects by brokers is subtly changing the scene. Unbeknownst to many, what started as an investment journey could unwittingly morph into a gamble, devoid of the fun and awareness that accompanies a casino. This subtle and unsuspected transition is where the real concern lies, emphasizing the need for clear delineation and transparency in the brokerage world to protect unsuspecting investors from unintentional risks. Your input greatly enriches this discussion, thank you for sharing.

You're all on one page, exchanges ask for fees that's the point. One thing that these brokers exploit is the POS token which its them who stake the tokens for the clients.
Listing the tokens in the exchange is another, this is big when a team wants which I guess many tokens today stay on DEX like 1inch and Uni.

But I think we all can understand that they are also doing business like everyone else who needs to profit. Somehow a person will look at casinos worse than brokers though.

You are getting almost all wrong, brokerage is a business and service, a middleman between traders and the market, do you expect them to offer their service for free? Of course, it has to be with tokens, and I don't see how these little tokens they charge translate to playing their clients.

Mind you, there are two types of retail brokers, one is an internal market maker, they earn when their clients lose and they lose when their clients win (paid winning from their pocket. This arrangement is fair, I see no one playing their clients here once they do not deny their withdrawal.

The other one is connected directly to the raw pool of the market, in which their clients win directly from the market and lose to the market. The former however could gain from the trader's loss, spread, commission and swap (which you didn't mention), while the latter will only gain from spread, commission and swap. This is a fiar arrangement since they are deploying their resources and technology to ensure you have access to the market which ordinarily can't be possible without them.

Also, the former can gain from liquidation of position, but the latter can't. Above all, all are dispensing their services with fair marked terms and conditions, it is the choice of anyone to deal with them.

Aren't they basically in the same position? And aren't we aware of the fact that both gambling houses and brokers are charging us for the services they are offering to us? I think we do, and I don't really see a lot of difference between both. A broker charges fees on our trades and a house takes its share as a house edge, they both charge us for our withdrawals, and when we lose a bet in gambling or get liquidated in futures, they get all that we had at stake.

So, I don't really think that brokers are outdoing casino houses in the money game and are charging us more than we pay a casino house. I believe both businesses are doing great in terms of earning profits in their respective fields and we are getting the services we need, so it's basically how it works.

In short, both. I mean we all play around the game. The casino wants you to keep playing, and brokers want you to keep investing. Both of them are in it to make money, that's for sure. And we do too, players play with the hope of winning. Casinos designed their games so smart that they initially allow players to win but in the long run, the house always wins. It’s all about chance and luck, and it's easy to get carried away. But brokers, they help you make informed decisions but they also charge fees for their services, making money. Both casinos and brokers are there to make a profit and you're playing your own game. You have control so play smart haha you're the one paying here

They're comparable in the context that they're both collecting a fee from their users, which gives the user lesser edge to an already negative edge situation in "the game".


Perhaps it's more comparable to think about it like, a game in the casino = an altcoin in the market. Casino = takes a fee per bet. Broker/exchange = takes a fee per trade.

Surely there will be some twerking in the brokers modus operandi at least for letting you have a feel of the global financial market  but to the extent of it is what those trading should research on regarding the extent of which they are manipulated. Likewise, such twerking could be somewhere in the casinos house edge too and that is why we are having more casino review sites springing up because people believe that something could be happening in there and if nothing of such then they should play with casino that have little or no such to worry about. Just to say brokers and casinos are all in business to make profit.

I see where you're coming from, but it feels like we're on different pages. Imagine going to a doctor for a cold and getting a pitch for a nose job. My worry? Brokers, who should be helping us navigate the financial world, are suddenly tossing dice and dealing cards, nudging us to gamble more than we planned. It’s this sly switch that’s got my alarm bells ringing! Your point is valid, but let's keep our brokers brokering and our casinos dealing, shall we?

Like is there ways you can trade on the financial market with ease without using a broker? I mean do traders have direct access to the financial global trading market without some kind of registration with an online trading platform or an exchange so to speak which is what is referred to as broker in the modern sense where you can access all the traded instruments, assets, fiat currency, cryptocurrency derivatives, stocks etc

Your insight highlights the obscured systems that safeguard broker and casino profits, emphasizing the necessity for amplified transparency. Given brokers' push towards entertainment and gamification to encourage trading, perhaps a requirement to maintain a gambling license could be a step toward ensuring accountability and fairness. Your thoughts add a meaningful dimension to this dialogue, thank you.

You bring up an important distinction, and I understand your view. Brokers and casinos indeed have inherently different models and goals. Your emphasis on the importance of choosing a reputable broker is especially critical to ensure protection and quality service.

In alignment with my earlier thoughts, I share concerns when brokers move beyond their traditional role, integrating game-like and entertainment aspects to encourage frequent trading. This shift, in my view, narrows the gap between brokers and casinos, making the distinction less clear for the average individual. It's this blending of roles and potential erasure of clear boundaries that my initial discussion aimed to spotlight. Your insights contribute significantly to this conversation, and it's important that these diverse viewpoints are shared and considered. Thank you for your thoughtful response.