Pages:
Author

Topic: Investing in Casino tokens such as BFG, OWL or TFS - page 21. (Read 8244 times)

sr. member
Activity: 1878
Merit: 389

@Get-Paid.com a more alarming threat that we as investors of casino token is how SEC is considering all cryptocurrency to be a security. with that, they may be able to look for way to shutdown these casinos. when the casino is coerce to comply the regulations that can impose particularly to casino tokens.


It's quite unlikely the SEC would try to shut down these casinos - Pinnacle is an example to a casino/sportsbook that established itself offshore and had so many US channels covering its operations - to date, their business has only grown as they adopted Crypto among the first ones.

Crypto is here to stay, the SEC knows that.
What they can do is increase the interest rates and make the dollar more attractive - currencies with lower value attract less investors and that, by nature, like any other market, naturally - can create problems, and it seems like they are taking this direction already. (It's the Fed, not the SEC, but they surely collaborate etc.)

legendary
Activity: 1162
Merit: 2025
Leading Crypto Sports Betting & Casino Platform
-snip-

I feel like with this you're drifting away from the theme of this thread. It's about investing in casino tokens, not staking ETH.

Casino tokens are risky just like NFTs and new altcoins. They are as risky as buying Luna at the bottom, but you can always earn on this move like people who bought Luna made some money when it pumped a few days ago but it doesn't prove that Luna is a good token or that investing in casino tokens is a good idea. It's gambling.

Okey, I'll drop the Ether conversation.

As far as I am aware one of the only ways to actually stake in a relatively secure way is to do it with a very established coin, like Ether instead of tokens.

I can't call it secure way. Risk the same. You staking real crypto (eth) for some tokens, which if site/service disappear will cost zero.

This risk is involved in any cryptocurrency however some crypto is less risky compared to others that are riskier. However, when we talk about gambling casino tokens, it's easy to judge them as we know how much gambling casino is popular and what is their progress. Based on this we can increase or decrease our accumulation of gambling site tokens.
I think gambling sites tokens are worth investing.

Yes, they are worth investing as I said earlier, they can serve as a way to diversify one's portfolio.
It is matter of seeking trustworthy casinos or webpages and do the research.
For example if Stake minted their own token, I am pretty sure thousands of players would buy them very quickly due to their good reputation and history since they opened, but it is unlikely they do it, in my opinion. I was also analizing those yields casinos offer to their native tokens but they do not seem to be worthty as a reliable passive income source, at least not for people with little money to stake. Perhaps it would be better just to buy, hold and find a good chance to realize gains.




legendary
Activity: 3234
Merit: 1055

^ yes its worth investing and you can gradually increase your stake thru the revenue you receive from staking the casino tokens.

@Get-Paid.com a more alarming threat that we as investors of casino token is how SEC is considering all cryptocurrency to be a security. with that, they may be able to look for way to shutdown these casinos. when the casino is coerce to comply the regulations that can impose particularly to casino tokens.
legendary
Activity: 3136
Merit: 1172
Leading Crypto Sports Betting & Casino Platform
As far as I am aware one of the only ways to actually stake in a relatively secure way is to do it with a very established coin, like Ether instead of tokens.

I can't call it secure way. Risk the same. You staking real crypto (eth) for some tokens, which if site/service disappear will cost zero.

This risk is involved in any cryptocurrency however some crypto is less risky compared to others that are riskier. However, when we talk about gambling casino tokens, it's easy to judge them as we know how much gambling casino is popular and what is their progress. Based on this we can increase or decrease our accumulation of gambling site tokens.
I think gambling sites tokens are worth investing.
sr. member
Activity: 1878
Merit: 389
I can't call it secure way. Risk the same. You staking real crypto (eth) for some tokens, which if site/service disappear will cost zero.

Any business can shut down its doors anytime, at any given moment.
But is it worth doing it?

As long as the business is profitable then its owners/stakeholders have an interest of sustaining the business, and not shutting it down.

Signs of bad practices can be slow withdrawals, lack of customer service, scam accusations and more - so far most trustworthy crypto sites have been proven to be the opposite.

If anything, businsses that you should be much more worried about are the brick & mortar ones, e.g. Ladbrokes in the UK:

https://bitcointalksearch.org/topic/m.60919240

William Hill shut down 119+ shops (and the number is growing) - even the stock price is not doing so great.

These businesses are in much more trouble because they are dealing with a much better competition from the Crypto sphere.... still, they got lots of British people to use their existing shops and online sites, but it slowly fades away. They cannot compete with the bonuses/VIP/perks that crypto sites offer their members - they literally have nothing to offer other than one single signup bonus, which is truly pathetic - long term they are the ones that might "disappear" and it "will cost zero" for them to do that.
legendary
Activity: 2478
Merit: 1360
Don't let others control your BTC -> self custody
I am not sure of the dynamics behind the APYs, I have assumed it can vary with the time but I dont know how much they vary, hopefully someone with more experience than I can answer the question.

Also, when I mentioned Ether staking I meant using Ether to become a validator within Ethereum blockchain itself, in that case I believe there is a clear difference between staking on a centralized service like a casino and staking to validate transactions in the advent of Ethereum 2.0, getting more Ether as reward.

I feel like with this you're drifting away from the theme of this thread. It's about investing in casino tokens, not staking ETH.

Casino tokens are risky just like NFTs and new altcoins. They are as risky as buying Luna at the bottom, but you can always earn on this move like people who bought Luna made some money when it pumped a few days ago but it doesn't prove that Luna is a good token or that investing in casino tokens is a good idea. It's gambling.
legendary
Activity: 1162
Merit: 2025
Leading Crypto Sports Betting & Casino Platform
Quote
APY up to
59.89%

Also, if we look at your link, casino propose very small APY interest. A lot of staking sites propose something like 300 % or similar (sometimes even more)

I am aware of the risks involved with staking for high yield and I have no intentions to do so, just wanted to know more.
Also 53% is already risky enough imo, 300% definitely raises a red flag when comes to APY.

Maybe I'm wrong, but as i remember, APY should be very high. Due time it will decrease after a lot of people will join. Am i right? So in this case APY should be very high, like 200-300 %, because after few weeks it will be 40-50 %



As far as I am aware one of the only ways to actually stake in a relatively secure way is to do it with a very established coin, like Ether instead of tokens.

I can't call it secure way. Risk the same. You staking real crypto (eth) for some tokens, which if site/service disappear will cost zero.

I am not sure of the dynamics behind the APYs, I have assumed it can vary with the time but I dont know how much they vary, hopefully someone with more experience than I can answer the question.

Also, when I mentioned Ether staking I meant using Ether to become a validator within Ethereum blockchain itself, in that case I believe there is a clear difference between staking on a centralized service like a casino and staking to validate transactions in the advent of Ethereum 2.0, getting more Ether as reward.
legendary
Activity: 2436
Merit: 1849
Crypto for the Crypto Throne!
Quote
APY up to
59.89%

Also, if we look at your link, casino propose very small APY interest. A lot of staking sites propose something like 300 % or similar (sometimes even more)

I am aware of the risks involved with staking for high yield and I have no intentions to do so, just wanted to know more.
Also 53% is already risky enough imo, 300% definitely raises a red flag when comes to APY.

Maybe I'm wrong, but as i remember, APY should be very high. Due time it will decrease after a lot of people will join. Am i right? So in this case APY should be very high, like 200-300 %, because after few weeks it will be 40-50 %

As far as I am aware one of the only ways to actually stake in a relatively secure way is to do it with a very established coin, like Ether instead of tokens.

I can't call it secure way. Risk the same. You staking real crypto (eth) for some tokens, which if site/service disappear will cost zero.
sr. member
Activity: 1878
Merit: 389
These are nothing like buying "William Hill" or "Ladbrokes" stocks. When you buy stocks you are buying part of the ownership of that company which is much more valuable and secured. All you're buying with these are virtual tokens that the company launched and they don't come with anywhere near the same legal protections. These are the equivalent of funding a casinos operation, so you will take all of the risk with them taking most of the profits. If you were serious about investing in a casino like this, you should stick with thorough research and buy into the stock of much bigger gambling companies - who have weathered all the storms, because right now with these casino tokens, you will be bobbing around in a dinghy in the Atlantic waiting to sink.

The William Hill stock from 2018 only went down and hasn't even fully recovered from its peak:

https://www.investing.com/equities/william-hill

BFG from 2018 has paid lots of %%%% in return in addition to the price movement:

https://coinmarketcap.com/currencies/betfury/

Not only that, the old brick & mortar gambling companies had to close lots of shops in the UK, e.g.:

https://onlinebingo.co.uk/news/119-william-hill-shops-closed

119 shops closed and more closures are on the horizon.

They are old fashioned, asking users to deposit using bank transfers, or credit cards, dealing with lots of issues because of this - whilst the Crypto gambling sites suprassing them by a lot!

We invite you to read our piece of blog here as well in regards to that:

https://gamblingfreebies.com/2020/11/11/why-use-crypto-gambling-sites-instead-of-traditional-ones/

This piece was posted 2 years ago but it's still correct as of today - their stock price is something you shouldn't invest in, unless you can clearly see a path to profit, but right now they are struggling and struggling quite a lot.
legendary
Activity: 3066
Merit: 1312

I am aware of the risks involved with staking for high yield and I have no intentions to do so, just wanted to know more.
Also 53% is already risky enough imo, 300% definitely raises a red flag when comes to APY.

As far as I am aware one of the only ways to actually stake in a relatively secure way is to do it with a very established coin, like Ether instead of tokens.

I don't really agree that staking is very risky. Betfury has proven themself as a legit casino but there is always a risk involved. The APY that they currently propose of 53% is not bad at all in my eyes and has already been a lot higher also in the past. Do your own research and don't put all your eggs in the same basket.

Staking is usually using internal token where it can be earned by buying or wagering in the casino. So the risk is when we are wagering and/spending the money to earn the internal token. Once we stake our token, I dont think there is a risk anymore since there is no more chance of losing money unless we keep trying to earn more tokens. All in all, any investment is risky because we are spending money on it unless we can get the internal token for free.
sr. member
Activity: 2296
Merit: 360
I do not know any nations with 17 dollars per month salary, maybe daily? That is a super low amount, I do not think that even the poorest nations would have such a thing maybe aside from Venezuela, even my nation which is doing horrible in economy, has like 250 dollars per month to 300 dollars per month minimum wage, it is still quite low of course but not 17, that is just too wild. In that regard 850 dollars investment could be found by just signature campaigns and you would be a wealthy person from the income of that alone, plus all the investments you could do.
17 dollars per month minimum wage look unrealistic to me maybe per day as you have rightly said, my country has a minimum wage of about $30 a month and this is 18 thousand naira in my local currency until recently the government increased it to $47 that is 33 thousand Nigeria naira which is still very poor considering the cost of living that has increased greatly since after covid 19. So a $17 minimum wage is quite an unthinkable amount to earn as a worker because that amount will cripple workers purchasing power and the inflation rate will skyrocket in such an economy.
Dont know on where you do get those 17 which $47 is currently the lowest monthly salary.

Cuba. 47.33 USD.
Congo. 82.94 USD.
Tajikistan. 133.68 USD.
and so on....

https://www.paylab.com/top-salaries/rankings/top-20-countries-lowest-salary?lang=en

So just like you do said that it was really indeed impossible unless if it wasnt really that an actual permanent day job.?
hero member
Activity: 1260
Merit: 765
Top Crypto Casino
I do not know any nations with 17 dollars per month salary, maybe daily? That is a super low amount, I do not think that even the poorest nations would have such a thing maybe aside from Venezuela, even my nation which is doing horrible in economy, has like 250 dollars per month to 300 dollars per month minimum wage, it is still quite low of course but not 17, that is just too wild. In that regard 850 dollars investment could be found by just signature campaigns and you would be a wealthy person from the income of that alone, plus all the investments you could do.
17 dollars per month minimum wage look unrealistic to me maybe per day as you have rightly said, my country has a minimum wage of about $30 a month and this is 18 thousand naira in my local currency until recently the government increased it to $47 that is 33 thousand Nigeria naira which is still very poor considering the cost of living that has increased greatly since after covid 19. So a $17 minimum wage is quite an unthinkable amount to earn as a worker because that amount will cripple workers purchasing power and the inflation rate will skyrocket in such an economy.
legendary
Activity: 1162
Merit: 2025
Leading Crypto Sports Betting & Casino Platform
-snip-

I don't really agree that staking is very risky. Betfury has proven themself as a legit casino but there is always a risk involved. The APY that they currently propose of 53% is not bad at all in my eyes and has already been a lot higher also in the past. Do your own research and don't put all your eggs in the same basket.

It is a thing of mine when I see such relatively high APY feel there must be some risk behind it, obviously the reputation of the casino it is important so it is its future success. We can both agree that each one of us are responsible to do our own reseach and take care of out money.



I do not know any nations with 17 dollars per month salary, maybe daily? That is a super low amount, I do not think that even the poorest nations would have such a thing maybe aside from Venezuela, even my nation which is doing horrible in economy, has like 250 dollars per month to 300 dollars per month minimum wage, it is still quite low of course but not 17, that is just too wild. In that regard 850 dollars investment could be found by just signature campaigns and you would be a wealthy person from the income of that alone, plus all the investments you could do.

Funny you mention it, because I am in fact a Venezuelan living in Venezuela.
I have seen times when our minimum wage was about 7$/month actually, some months ago it was 30$/month but got down to 17$/month because our government flooded the market with local currency in order to pay some debts to the education workers.

I recall that back in 2018-2019 fast food businesses and other companies that in normal circumstances would pay min wage to their workers actually started to pay more than min wage (and some other benefits, like free lunch in the case of fast food companies), so they could retain workers from leaving, it was getting to annoying for them to deal with new workers so frequently.

That is something that continues to happen today, a privately owned drug store franchise would pay easily 100$/month to their workers intead the legal 17$.

hero member
Activity: 2282
Merit: 589
I do not know any nations with 17 dollars per month salary, maybe daily? That is a super low amount, I do not think that even the poorest nations would have such a thing maybe aside from Venezuela, even my nation which is doing horrible in economy, has like 250 dollars per month to 300 dollars per month minimum wage, it is still quite low of course but not 17, that is just too wild. In that regard 850 dollars investment could be found by just signature campaigns and you would be a wealthy person from the income of that alone, plus all the investments you could do.
Minimum wages are paid according to state regulations if working for factory workers, permanent employees and others, so many other jobs that earn lower wages than the minimum wage, but you are right that $17 a month salary is very low even not enough for a week when all the price of goods has increased. But we're back to discussing $17 per month from $850 capital equivalent of betfury tokens, but +1$ should not be shared in some coins because it takes time to reach the withdrawal limit.
legendary
Activity: 2380
Merit: 1150
I just checked that to be honest 1$ a day is quite good in many situations. for instance, the minimum wage here is about 17$ /month.
But that annual yield rate is quite big if you ask me, makes me wonder about risk exposition when hunting passive income on casinos, it is also interesting how USDT occupies such a importance percentage of their staking pool, I would have expected BTC to have a protagonistic place, but it seems i was wrong.
If your minimum wage is $17 per months, that investing $850 to get $1 a day is something unreal. And you will get this $1 as 0.53 USDT, 1.27 TRX, 729sat, 0.0006 BNB and 0.000073 ETH. BetFury minimum withdrawal amounts for some altcoins are quite high, so it will take time before you can withdraw them. Such investment wont be a solution for low salary as you will have to wait some time before you will be able to withdraw and loose on withdrawal fees.
I do not know any nations with 17 dollars per month salary, maybe daily? That is a super low amount, I do not think that even the poorest nations would have such a thing maybe aside from Venezuela, even my nation which is doing horrible in economy, has like 250 dollars per month to 300 dollars per month minimum wage, it is still quite low of course but not 17, that is just too wild. In that regard 850 dollars investment could be found by just signature campaigns and you would be a wealthy person from the income of that alone, plus all the investments you could do.
sr. member
Activity: 2212
Merit: 254
Top-tier crypto casino and sportsbook

I am aware of the risks involved with staking for high yield and I have no intentions to do so, just wanted to know more.
Also 53% is already risky enough imo, 300% definitely raises a red flag when comes to APY.

As far as I am aware one of the only ways to actually stake in a relatively secure way is to do it with a very established coin, like Ether instead of tokens.

I don't really agree that staking is very risky. Betfury has proven themself as a legit casino but there is always a risk involved. The APY that they currently propose of 53% is not bad at all in my eyes and has already been a lot higher also in the past. Do your own research and don't put all your eggs in the same basket.
hero member
Activity: 1260
Merit: 765
Top Crypto Casino

BFG is a very good coin to invest. I have invested this coin and can see from there getting five more coins as staking bonus.But what I like the most is that they give their staking bonus every day and very small withdrawals.But not only do I have OWL game tokens here but I can also sell that coin.The coin I have is from the Polygon platform. I tried many times to sell but I failed in the end. But the token that I like the most is the BFG token.
Am not too familiar with the token you mentioned but however I may like to see for myself what the condition of their market is and how volatile the token is in the market to know whether or not BFG can be a good investment choice for staking, but so far I have been staking owl token for over a 4 months now and to a great extent I like their products and the stability of the token throughout this period of a bear market. Unlike other casino-based tokens that can easily get dumped in the market.
legendary
Activity: 1162
Merit: 2025
Leading Crypto Sports Betting & Casino Platform

If your minimum wage is $17 per months, that investing $850 to get $1 a day is something unreal. And you will get this $1 as 0.53 USDT, 1.27 TRX, 729sat, 0.0006 BNB and 0.000073 ETH. BetFury minimum withdrawal amounts for some altcoins are quite high, so it will take time before you can withdraw them. Such investment wont be a solution for low salary as you will have to wait some time before you will be able to withdraw and loose on withdrawal fees.

-snip-

https://betfury.io/staking

Thanks letting me know those details. Even though the min salary is low here there are people who have some saving and are willing to find way to get some reasonable yield out their money. I suppose that getting constant withdrawvals from a casino sounded too good to be true indeed. Again, I was not planning to buy or stake casino tokens I just wished to know more about it.



Do you know where I can find more documentation on this staking pool or what other casinos offer similar yield to their clients?
I have no intentions to stake just get informed on how they manage to keep that yield so high.

https://betfury.io/staking

Staking is very bad idea. Even if we ignore the fact that your money may flee away if something happen to contract and/or casino/site, you need to pay fee for start of staking and in  the end - when you will try to take your money back.

Quote
APY up to
59.89%

Also, if we look at your link, casino propose very small APY interest. A lot of staking sites propose something like 300 % or similar (sometimes even more)

I am aware of the risks involved with staking for high yield and I have no intentions to do so, just wanted to know more.
Also 53% is already risky enough imo, 300% definitely raises a red flag when comes to APY.

As far as I am aware one of the only ways to actually stake in a relatively secure way is to do it with a very established coin, like Ether instead of tokens.
legendary
Activity: 2688
Merit: 1192
It looks like all cryptos went down in the past few weeks/months, Bitcoin is down, Ethereum is down.

Among the few ones that actually haven't lost a lot of value are cryptos that represent gambling sites, for instance:

  • BFG for BetFury - they offer currently up to 76% yields per annum on the BFG token that is paid in other cryptos such as USDT, BNB etc.
  • OWL for OwlGames - they offer 43% per annum on their OWL token, their currency has actually went up in value whilst all other cryptos went down - and why? Anyone knows?
  • TFS for FairSpin - not very popular but represents FairSpin, didn't go down in value much either.

Are these things similar to what we had in the 1990s and 2000s before Crypto - like buying "William Hill" or "Ladbrokes" stocks? Is it more or less the same thing just in Crypto?

And why OWL keeps on going up in price? Honestly their site doesn't seem to be very unique or impressive - anyone has a credible explanation who is behind the price rise of that OWL token?!

 Huh

These are nothing like buying "William Hill" or "Ladbrokes" stocks. When you buy stocks you are buying part of the ownership of that company which is much more valuable and secured. All you're buying with these are virtual tokens that the company launched and they don't come with anywhere near the same legal protections. These are the equivalent of funding a casinos operation, so you will take all of the risk with them taking most of the profits. If you were serious about investing in a casino like this, you should stick with thorough research and buy into the stock of much bigger gambling companies - who have weathered all the storms, because right now with these casino tokens, you will be bobbing around in a dinghy in the Atlantic waiting to sink.
sr. member
Activity: 1330
Merit: 289
BFG is a very good coin to invest. I have invested this coin and can see from there getting five more coins as staking bonus.But what I like the most is that they give their staking bonus every day and very small withdrawals.But not only do I have OWL game tokens here but I can also sell that coin.The coin I have is from the Polygon platform. I tried many times to sell but I failed in the end.But the token that I like the most is the BFG token.
Before someone people invest in a coin, they make sure that they have checked the if the coin will last or they coin will just take away their money. You can testify about coin to give it a quality because you are of the team, for now investors have to be careful for further investment and especially for the coins that have no influence and are not officially known by people. Before i will invest for this project, i will make sure i have research very well for the project and also know if it's a good one.
Pages:
Jump to: