What is the difference between binary option and gambling?

iMark

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Quote from: Pinkris128 on October 06, 2019, 10:34:24 AM

Quote from: arpon11 on August 24, 2019, 01:52:45 PM

I always measure gambling from the level of risk and reward and i do believe that, this is the reason why cryptocurrencies traders, binary option traders, and forex traders are been referred to as gamblers by those that did not know how there work, as it is possible to have your entire accounts wipe out if you take risk with all your funds and at the same time it is also possible to double or triple your funds by just small movement in you favour.
It is almost impossible to come out with profits in binary options and a lot of strategies are out there and I have tried many of them. One thing is very common and that is: the gambling companies keep making money and binary option websites owners are among millionaire in their countries. My question is that, is binary options part of the gambling industry as it deals with betting?

In trading or investing, there is a lot things you first need consider and a lot of factors to add up before you can try to estimate if the trade is worth the time, effort, and money. Meanwhile, gambling is concurrent and the results are just a click away. There is no standard statistics in those games that is why it is called gambling.

But as he said that whatever strategy you use in binary trading, it won't have much effect because prices can change in any direction in just a few minutes, it's hard to predict prices will go up or down in a short amount of time, in what way or instrument you can know the price will go up or down in 1-5 minutes? thats why many people refer to it as gambling.

Yeah the level of risk will also be referred to as gambling. if the risk is greater then the level of chances of winning will be smaller. the more difficult to predict the higher the risk. there are no skills in trading, so you will be same as gambling, because the risk is also very big.

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Quote from: arpon11 on August 24, 2019, 01:52:45 PM

I always measure gambling from the level of risk and reward and i do believe that, this is the reason why cryptocurrencies traders, binary option traders, and forex traders are been referred to as gamblers by those that did not know how there work, as it is possible to have your entire accounts wipe out if you take risk with all your funds and at the same time it is also possible to double or triple your funds by just small movement in you favour.
It is almost impossible to come out with profits in binary options and a lot of strategies are out there and I have tried many of them. One thing is very common and that is: the gambling companies keep making money and binary option websites owners are among millionaire in their countries. My question is that, is binary options part of the gambling industry as it deals with betting?

In trading or investing, there is a lot things you first need consider and a lot of factors to add up before you can try to estimate if the trade is worth the time, effort, and money. Meanwhile, gambling is concurrent and the results are just a click away. There is no standard statistics in those games that is why it is called gambling.

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Quote from: arpon11 on August 24, 2019, 01:52:45 PM

I always measure gambling from the level of risk and reward and i do believe that, this is the reason why cryptocurrencies traders, binary option traders, and forex traders are been referred to as gamblers by those that did not know how there work, as it is possible to have your entire accounts wipe out if you take risk with all your funds and at the same time it is also possible to double or triple your funds by just small movement in you favour.
It is almost impossible to come out with profits in binary options and a lot of strategies are out there and I have tried many of them. One thing is very common and that is: the gambling companies keep making money and binary option websites owners are among millionaire in their countries. My question is that, is binary options part of the gambling industry as it deals with betting?

The main difference of those things from the online gambling we know of is that online gambling is instant and aside from the fact that it can be profitable is that online gambling is for entertainment value. The two only mixes when you consider the act of gambling as a way of living or simply a job. By all means, gambling is just a hobby for me and all the money you can conjure from playing it is barely enough to sustain the activity most of the times. Binary options and other trading activities are in a form of investment - that is a product of a lot of planning and studying the trends in the market. Those are one of the things you won't see in a normal online gamble.

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Quote from: arpon11 on August 24, 2019, 01:52:45 PM

I always measure gambling from the level of risk and reward and i do believe that, this is the reason why cryptocurrencies traders, binary option traders, and forex traders are been referred to as gamblers by those that did not know how there work, as it is possible to have your entire accounts wipe out if you take risk with all your funds and at the same time it is also possible to double or triple your funds by just small movement in you favour.
It is almost impossible to come out with profits in binary options and a lot of strategies are out there and I have tried many of them. One thing is very common and that is: the gambling companies keep making money and binary option websites owners are among millionaire in their countries. My question is that, is binary options part of the gambling industry as it deals with betting?

Frankly there is no difference between them if you look at it from a fundamental perspective. Even regular forex or the stock market - its all just a huge gambling scene. Only the stakes are higher, more risk and everything is done under the veil of law enforcement.

If gambling were organized it'll be become a new wall street trade

With that said, there are certain risks in typical gambling that you won't find in binary options. For instance there is a maximum cap to what you can bet vs lose. In gambling, sometimes you can go in negative balance, which is almost never the case with binary options.

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Quote from: panganib999 on October 02, 2019, 09:40:40 AM

In gambling, you have a 50:50 chance of winning; however, in binary trading, you have a more winning chance it depends on how you can read or analyze the market. Simply reading the news will give you an additional chance of winning.
And also it depends on what do you want, if you want entertainment go gamble and if you want a high chance of getting profit, then go-to binary trading. For me, my primary purpose why I am gambling is for entertainment and thrill. Trading is for profit

There are binary options that had features which results be known for a minute or an hour depend on what their platform do give out which means

you wont have much time for you to have that news or fundamentals to be add up on your analysis but it isnt bad to use it if you do have it.

Price ticks to matter but for a very volatile kind of market, binary options is somewhat riskier than on BO with forex and stocks which do had lesser.

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In gambling, you have a 50:50 chance of winning; however, in binary trading, you have a more winning chance it depends on how you can read or analyze the market. Simply reading the news will give you an additional chance of winning.
And also it depends on what do you want, if you want entertainment go gamble and if you want a high chance of getting profit, then go-to binary trading. For me, my primary purpose why I am gambling is for entertainment and thrill. Trading is for profit

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I tried Binary options once and I find it difficult, maybe what I can think of the difference is Binary option is s serious activity that will give you a win if you are good in analyzing the market, and that is not fun, while in gambling, we have a choice whether we gamble just for pure fun or we gamble seriously focusing on making ourselves profitable, and in that matter I am talking about the skilled based type of games like poker and sports betting.

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Quote from: milewilda on September 25, 2019, 09:12:53 AM

Difference of binary options to gambling is on the risk involved depending on the knowledge you do have with trading.We know if we do try to compare
actual trade to an actual gambling game.Yeah you can make advantage if you do know on what you are doing since binary options does only need for you to guess two options
which is higher or lower into your entry point.If you do just make options or selections without having any basis and just relying for some results then you
are basically doing gambling.

As long as they both involve risk then there's no much difference between them that we can speak of. There's nothing like one riskier than another. I don't partake in any of them and it pleases me not to do so because I really respect myself.

I think there are a lot of businesses we can do without the fear of risk, I prefer such and I can't stand to risk my money no matter how less risky it is described to be. My friends that gamble said they prefer gambling more because in gambling, combination of skills and luck is sure of delivering profit unlike in binary option. I suggest to partake in any of the two, there is need to be well skilled in some areas to avoid consistent loses.

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Quote from: carter34 on September 21, 2019, 01:43:05 AM

Quote from: nydiacaskey01 on September 12, 2019, 07:00:01 PM

Both requires analysis if you are into sports betting since you have to check the records of the team if its basketball, or the boxer or mma fighter, you don't just place your bet based on wild guess, you will loose your money. Same with Binary trading, also need to do your research if the price will indeed go Up or Down, its different from the usual trading where you can pick a coin and wait for a period of time and if you did not hit your target, you can still wait until you reach your goal. In Binary its different, you pick if it will increase or decrease on a period of time.

I think gambling is more difficult than binary. Gambling most times is not research based especially if it is not sports, thus success rate in gambling is luck. Binary is more of research taking and analysis.

I had been involved in both gambling and binary option from my own personal opinion both are more or less the same thrice I invested in binary my account was wiped through streaks of losses a binary trader can't have an edge due to low pay out while the brokers too manipulate the price to their advantage, at times gambling can profitable in there is some element of luck I am very sure and believed gamblers are making profits d on daily basis that is why a lot of crypto based gambling sites are springing out daily compared to the numbers of binary traders.

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Quote from: Eugenar on September 29, 2019, 04:45:31 AM

On the other hand, gambling is an investment into an activity in the “hopes” of winning without any analysis and, just relying on luck.

Gambling is not an investment. It is a game of chance where you rely on your luck to multiply your capital. Investments are done after proper research and EV- games in gambling are not comparable to them. If you say EV+ games then to some extent you would be correct. Because EV+ games need your homework to be done and bets placed after analyzing the team for days and months.

Quote

The thing makes them the same is that they cannot be used by any analysis or simply you just predicting the movement.

Binary is just that. It is a type of gambling about price going up or down. You are not profiting from it. The place where you are plying is actually profiting.

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Quote from: Eugenar on September 29, 2019, 04:45:31 AM

Quote from: carter34 on September 21, 2019, 01:43:05 AM

Quote from: nydiacaskey01 on September 12, 2019, 07:00:01 PM

Both requires analysis if you are into sports betting since you have to check the records of the team if its basketball, or the boxer or mma fighter, you don't just place your bet based on wild guess, you will loose your money. Same with Binary trading, also need to do your research if the price will indeed go Up or Down, its different from the usual trading where you can pick a coin and wait for a period of time and if you did not hit your target, you can still wait until you reach your goal. In Binary its different, you pick if it will increase or decrease on a period of time.

I think gambling is more difficult than binary. Gambling most times is not research based especially if it is not sports, thus success rate in gambling is luck. Binary is more of research taking and analysis.

All I can say is that they are almost the same though. In binary option you tend to speculate the price of a certain assets in the future whether it will go up or down and we all know that in Cryptocurrency, mere speculation is not advisable to follow with. On the other hand, gambling is an investment into an activity in the “hopes” of winning without any analysis and, just relying on luck. The thing makes them the same is that they cannot be used by any analysis or simply you just predicting the movement.

I agree with you, more precisely, even if we want to have the analysis to make more accurate decisions, we still can't see an element that reflects the target we need to find, a lot of people have tried to analyze charts but the fact is that it's fluctuating in no trend, gambling or binary, both seem to be a place for us to bet luck, participation techniques and knowledge are not determinants. The only difference I see is probably that binary gives us a sense that we will be able to make money, while gambling only gives a sense of joy as primarily.

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Quote from: carter34 on September 21, 2019, 01:43:05 AM

Quote from: nydiacaskey01 on September 12, 2019, 07:00:01 PM

Both requires analysis if you are into sports betting since you have to check the records of the team if its basketball, or the boxer or mma fighter, you don't just place your bet based on wild guess, you will loose your money. Same with Binary trading, also need to do your research if the price will indeed go Up or Down, its different from the usual trading where you can pick a coin and wait for a period of time and if you did not hit your target, you can still wait until you reach your goal. In Binary its different, you pick if it will increase or decrease on a period of time.

I think gambling is more difficult than binary. Gambling most times is not research based especially if it is not sports, thus success rate in gambling is luck. Binary is more of research taking and analysis.

All I can say is that they are almost the same though. In binary option you tend to speculate the price of a certain assets in the future whether it will go up or down and we all know that in Cryptocurrency, mere speculation is not advisable to follow with. On the other hand, gambling is an investment into an activity in the “hopes” of winning without any analysis and, just relying on luck. The thing makes them the same is that they cannot be used by any analysis or simply you just predicting the movement.

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Quote from: ethereumhunter on September 25, 2019, 08:42:01 AM

Yeah, without analysis, the binary will be gambling and so do with crypto trading.

Binary is a type of gambling anyway with or without analysis.

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The other difference is we can use little money to gamble, but in the binary system, we must use some money to start trading.

Gambling with very small capital at hand is worthless. You woudl get wiped out in one single red streak and wont be able to last long enough to hit that big win. But depends on your strategy, still a decent amount to start playing is for any strategy to be viable and worth running, even though in EV- games the long term result is loss.

Quote

In binary, we depend on our analysis, but in gambling, we rely on the luck. So both is not the same, but binary can be gambling if we don't know how to trade.

Binary options is not same as trading. You are predicting movements and betting on them. Hence its the gamble. You are not actually buying them. This is where it is different from spot trading.

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Quote from: ethereumhunter on September 25, 2019, 08:42:01 AM

Quote from: udidrone on September 25, 2019, 03:45:26 AM

Quote from: carter34 on September 21, 2019, 01:43:05 AM

Quote from: nydiacaskey01 on September 12, 2019, 07:00:01 PM

Both requires analysis if you are into sports betting since you have to check the records of the team if its basketball, or the boxer or mma fighter, you don't just place your bet based on wild guess, you will loose your money. Same with Binary trading, also need to do your research if the price will indeed go Up or Down, its different from the usual trading where you can pick a coin and wait for a period of time and if you did not hit your target, you can still wait until you reach your goal. In Binary its different, you pick if it will increase or decrease on a period of time.

I think gambling is more difficult than binary. Gambling most times is not research based especially if it is not sports, thus success rate in gambling is luck. Binary is more of research taking and analysis.

Maybe binary can be considered like gambling with analysis, like sportsbetting because we can do some analysis about what we want to bet. Because when we lost it will take all our money that we use to bet. Maybe that is why a lot of people always said if Binary trading is like gambling.

Yeah, without analysis, the binary will be gambling and so do with crypto trading. The other difference is we can use little money to gamble, but in the binary system, we must use some money to start trading. In binary, we depend on our analysis, but in gambling, we rely on the luck. So both is not the same, but binary can be gambling if we don't know how to trade.

Difference of binary options to gambling is on the risk involved depending on the knowledge you do have with trading.We know if we do try to compare
actual trade to an actual gambling game.Yeah you can make advantage if you do know on what you are doing since binary options does only need for you to guess two options
which is higher or lower into your entry point.If you do just make options or selections without having any basis and just relying for some results then you
are basically doing gambling.

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Quote from: udidrone on September 25, 2019, 03:45:26 AM

Quote from: carter34 on September 21, 2019, 01:43:05 AM

Quote from: nydiacaskey01 on September 12, 2019, 07:00:01 PM

Both requires analysis if you are into sports betting since you have to check the records of the team if its basketball, or the boxer or mma fighter, you don't just place your bet based on wild guess, you will loose your money. Same with Binary trading, also need to do your research if the price will indeed go Up or Down, its different from the usual trading where you can pick a coin and wait for a period of time and if you did not hit your target, you can still wait until you reach your goal. In Binary its different, you pick if it will increase or decrease on a period of time.

I think gambling is more difficult than binary. Gambling most times is not research based especially if it is not sports, thus success rate in gambling is luck. Binary is more of research taking and analysis.

Maybe binary can be considered like gambling with analysis, like sportsbetting because we can do some analysis about what we want to bet. Because when we lost it will take all our money that we use to bet. Maybe that is why a lot of people always said if Binary trading is like gambling.

Yeah, without analysis, the binary will be gambling and so do with crypto trading. The other difference is we can use little money to gamble, but in the binary system, we must use some money to start trading. In binary, we depend on our analysis, but in gambling, we rely on the luck. So both is not the same, but binary can be gambling if we don't know how to trade.

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Quote from: udidrone on September 25, 2019, 03:45:26 AM

Quote from: carter34 on September 21, 2019, 01:43:05 AM

Quote from: nydiacaskey01 on September 12, 2019, 07:00:01 PM

Both requires analysis if you are into sports betting since you have to check the records of the team if its basketball, or the boxer or mma fighter, you don't just place your bet based on wild guess, you will loose your money. Same with Binary trading, also need to do your research if the price will indeed go Up or Down, its different from the usual trading where you can pick a coin and wait for a period of time and if you did not hit your target, you can still wait until you reach your goal. In Binary its different, you pick if it will increase or decrease on a period of time.

I think gambling is more difficult than binary. Gambling most times is not research based especially if it is not sports, thus success rate in gambling is luck. Binary is more of research taking and analysis.

Maybe binary can be considered like gambling with analysis, like sportsbetting because we can do some analysis about what we want to bet. Because when we lost it will take all our money that we use to bet. Maybe that is why a lot of people always said if Binary trading is like gambling.

Unlike trading when you place your entry and set your target exit and it didn't executed you can still hold your assets and wait till it reached the amount, while with binary, it can take everything away in split of time you selected it if doesn't executed it will burn everything. You need to learn classifying your position and you need to be extra careful there's no way for you to recover your money once you place it inside binary type of trading.

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Quote from: udidrone on September 25, 2019, 03:45:26 AM

Quote from: carter34 on September 21, 2019, 01:43:05 AM

Quote from: nydiacaskey01 on September 12, 2019, 07:00:01 PM

Both requires analysis if you are into sports betting since you have to check the records of the team if its basketball, or the boxer or mma fighter, you don't just place your bet based on wild guess, you will loose your money. Same with Binary trading, also need to do your research if the price will indeed go Up or Down, its different from the usual trading where you can pick a coin and wait for a period of time and if you did not hit your target, you can still wait until you reach your goal. In Binary its different, you pick if it will increase or decrease on a period of time.

I think gambling is more difficult than binary. Gambling most times is not research based especially if it is not sports, thus success rate in gambling is luck. Binary is more of research taking and analysis.

Maybe binary can be considered like gambling with analysis, like sportsbetting because we can do some analysis about what we want to bet. Because when we lost it will take all our money that we use to bet. Maybe that is why a lot of people always said if Binary trading is like gambling.

More like it. I think binary options is to have a second thought on something you want to put your money with. Unlike gambling where in you do not have a send option once you placed your bet.

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Quote from: carter34 on September 21, 2019, 01:43:05 AM

Quote from: nydiacaskey01 on September 12, 2019, 07:00:01 PM

Both requires analysis if you are into sports betting since you have to check the records of the team if its basketball, or the boxer or mma fighter, you don't just place your bet based on wild guess, you will loose your money. Same with Binary trading, also need to do your research if the price will indeed go Up or Down, its different from the usual trading where you can pick a coin and wait for a period of time and if you did not hit your target, you can still wait until you reach your goal. In Binary its different, you pick if it will increase or decrease on a period of time.

I think gambling is more difficult than binary. Gambling most times is not research based especially if it is not sports, thus success rate in gambling is luck. Binary is more of research taking and analysis.

Maybe binary can be considered like gambling with analysis, like sportsbetting because we can do some analysis about what we want to bet. Because when we lost it will take all our money that we use to bet. Maybe that is why a lot of people always said if Binary trading is like gambling.

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Quote from: carter34 on September 21, 2019, 01:43:05 AM

I think gambling is more difficult than binary.

More or less same degree of risk in both because it is the same as a dice roll to predict the outcome of the roll on an open market.

Quote

Gambling most times is not research based especially if it is not sports, thus success rate in gambling is luck. Binary is more of research taking and analysis.

Agreed Binary is comparable to EV- gambling games. You dont do any research there but predict a roll similarly you predict the market price in Binary and if you manage to get it correct you win some money. What difference does it make to the player than dice rolling? Simply nothing extra.

But you go for spot trading you own an asset that you are going to exchange for another asset. This needs analysis and in dept technical stuff. You can make a good profit if you buy and sell at proper times here not in Binary.

I have rarely seen anybody make money from Binary Options. The ones you see on youtube are done for getting affiliate commissions and you should not trust them.

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Quote from: nydiacaskey01 on September 12, 2019, 07:00:01 PM

Both requires analysis if you are into sports betting since you have to check the records of the team if its basketball, or the boxer or mma fighter, you don't just place your bet based on wild guess, you will loose your money. Same with Binary trading, also need to do your research if the price will indeed go Up or Down, its different from the usual trading where you can pick a coin and wait for a period of time and if you did not hit your target, you can still wait until you reach your goal. In Binary its different, you pick if it will increase or decrease on a period of time.

I think gambling is more difficult than binary. Gambling most times is not research based especially if it is not sports, thus success rate in gambling is luck. Binary is more of research taking and analysis.

Topic: What is the difference between binary option and gambling? (Read 784 times)