What is the difference between binary option and gambling? - page 3.

Icologies

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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?

if my option which is called betting or multiplying is called gambling, I am not sure about binary because I just heard it. I need to learn more about this binary.

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Quote from: sana54210 on September 03, 2019, 03:26:28 AM

Quote from: davinchi on September 02, 2019, 01:39:30 PM

I will say that that the difference you mentioned is also not a difference in my opinion because almost all gamblers go into gambling for money making and this is the same with binary options. There is no difference between both but rather more of similarity in your words. They both require money to begin and as well both games are risky even though some people believe that gambling is more risky than binary options.

I prefer gambling anyway because you can have fun gambling and also make money but binary options is strictly business and it is not my kind of thing. I love something I can participate, have fun and as well make money and that is definitely gambling.

Point of correction, not most but all gamblers are into the game for the money. Don’t be deceived by the so called playing for entertainment gamblers. They are only deceiving other players. I understand the aspect of gambling for money and as well having fun but what annoys me is when they say they are only into gambling for fun. Like seriously, how honest is that statement. You mean losing sometimes can make someone happy? That is really strange and sound very unbelievable.

Back to the post. There is no difference between binary option and gambling, it both takes a man that is willing to take risk to try out this two, it also request a business minded person to be involved with both which makes it very similar.

I am so surprised at your level of thinking. Maybe you should talk for yourself. I can’t talk for everyone but one thing I am very sure of is that I am not into gambling to make money. I didn’t really understand the monetary aspect of gambling until recently I got to understand it perfectly well. Before now I play and when I win, am glad, also when I loose I could try again or give a break but either ways I wasn’t desperate. I know so many people like me that have very good sources of income and only play for fun with no intention to make money. Yes money could be won along the line but it is only a plus.

I do binary options and the reason I am there is strictly to make money, unlike gambling that I only play to be entertained, so this is a huge difference. One is for money and one is for fun.

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Quote from: arpon11 on August 25, 2019, 01:02:01 AM

Quote from: carter34 on August 24, 2019, 02:21:33 PM

You have answered so many questions you are trying to ask by yourself except that you want more contribution and the actually difference. The point is life is all having to do with risk. Whatever
business involves risk, whether physical or online. Therefore, gambling has no indicators while binary, forex, stock etc are involving indicators as guiding principle and they are mainly about the economy, so they are not the same with gambling.

I am not new to both binary options and gambling but just want to find out if what I am having in my mind is actually truth! Remember that binary options entails analysis and since is a bit of forex and stocks trading movements predictions it is not all about luck . You may have a good strategy or knowledge on both fundamentals and technical indicators that may makes you money. In gambling I have not see any such technique and since I have been gambling I completely depends on luck and risk.

Quote

In gambling I have not see any such technique and since I have been gambling I completely depends on luck and risk.

You should try skill-based gambling like sports betting, poker, etc... I think if you make thorough analysis of skill based gambling you could come up with predictable results.
In sports betting for example you could analyze players past record, current form, preparations, skills, health, etc. I believe someone with enough information and good analytical skills could correctly predict many live Football matches.

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

My question is that, is binary options part of the gambling industry as it deals with betting?

No it isn't part because there were legit binary option brokers and this isn't part of gambling industry.They are already considered as gambling since they do only have two options on how to win a binary bet.You can base of trading movements into actual market movements which means its not totally gambling that we know where luck is 100% needed since this one do have some basis.

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Quote from: davinchi on September 02, 2019, 01:39:30 PM

I will say that that the difference you mentioned is also not a difference in my opinion because almost all gamblers go into gambling for money making and this is the same with binary options. There is no difference between both but rather more of similarity in your words. They both require money to begin and as well both games are risky even though some people believe that gambling is more risky than binary options.

I prefer gambling anyway because you can have fun gambling and also make money but binary options is strictly business and it is not my kind of thing. I love something I can participate, have fun and as well make money and that is definitely gambling.

Point of correction, not most but all gamblers are into the game for the money. Don’t be deceived by the so called playing for entertainment gamblers. They are only deceiving other players. I understand the aspect of gambling for money and as well having fun but what annoys me is when they say they are only into gambling for fun. Like seriously, how honest is that statement. You mean losing sometimes can make someone happy? That is really strange and sound very unbelievable.

Back to the post. There is no difference between binary option and gambling, it both takes a man that is willing to take risk to try out this two, it also request a business minded person to be involved with both which makes it very similar.

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Quote from: yesyes18 on September 02, 2019, 01:58:43 PM

Quote from: arpon11 on August 27, 2019, 12:46:09 AM

Quote from: yesyes18 on August 26, 2019, 11:01:34 AM

I think betting/gambling is an umbrella term covering a wide range of predictive games or activities. Binary option trading, sports betting, lottery and so many other things are all categorized under gambling so I don't think you can clearly strike a difference between the two you asked.

I think there is a wide range of different between gambling and binary options and many people that do trade binary options that I know don’t see themselves as a gamblers but traders. Some even referred to themselves as a forex traders or stocks traders! The rate of risk is another areas you should look at. In gambling you cannot have any strategy that will keep putting money in your pockets but binary options market can be a bit predictable and though it is risky but the risk is quite understandable.

okay I do get you but don't you think trading is also in a way betting or gambling? Personally i see everything that works on "predict and win" as gambling. All those things are a play on your ability to predict the future and you sure can predict it wrong buddy (that either makes you lose and someone win or vice versa).

No, it is not the same as in trading. You need to have the skill to know where the trend of the coins moves. In gambling, you can play games without learning how to play with good. But maybe you are right if you say trading without skill, it is the same as gambling because we only predict without analyzing which coin that will increase. So it depends on how to treat trading and gambling itself.

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Quote from: arpon11 on August 27, 2019, 12:46:09 AM

Quote from: yesyes18 on August 26, 2019, 11:01:34 AM

I think betting/gambling is an umbrella term covering a wide range of predictive games or activities. Binary option trading, sports betting, lottery and so many other things are all categorized under gambling so I don't think you can clearly strike a difference between the two you asked.

I think there is a wide range of different between gambling and binary options and many people that do trade binary options that I know don’t see themselves as a gamblers but traders. Some even referred to themselves as a forex traders or stocks traders! The rate of risk is another areas you should look at. In gambling you cannot have any strategy that will keep putting money in your pockets but binary options market can be a bit predictable and though it is risky but the risk is quite understandable.

okay I do get you but don't you think trading is also in a way betting or gambling? Personally i see everything that works on "predict and win" as gambling. All those things are a play on your ability to predict the future and you sure can predict it wrong buddy (that either makes you lose and someone win or vice versa).

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Quote from: SirLancelot on August 29, 2019, 01:43:58 PM

If we are to look for similarities, there are a lot of it between both. They both require a startup capital even though what is required in binary option is much higher. The major difference is that most people who go into binary option do it as business and as a way to make money even though they understand the risk but most gambling players do it for entertainment.

For example, I have been gambling for 5 years now and I am only playing for fun, not minding what I loose but I can’t do this with binary. But in binary option, I am always prepared to display my skills which are what it is all about.

I will say that that the difference you mentioned is also not a difference in my opinion because almost all gamblers go into gambling for money making and this is the same with binary options. There is no difference between both but rather more of similarity in your words. They both require money to begin and as well both games are risky even though some people believe that gambling is more risky than binary options.

I prefer gambling anyway because you can have fun gambling and also make money but binary options is strictly business and it is not my kind of thing. I love something I can participate, have fun and as well make money and that is definitely gambling.

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Quote from: DoublerHunter on August 27, 2019, 04:28:32 AM

Binary option and gambling are almost the same because for me it involves money that probably you put on risk. In Binary trading option, some people are willing to put a big amount that they are willing to lose not like gambling just for entertainment but the whole concept was involved money which either you have to lose or win. Nevertheless, even though they are the same risk but I think Binary option has an advantage than gambling because you can apply indicator on Binary option.

I think you are looking more into the similarities than the differences as required by the OP.

If we are to look for similarities, there are a lot of it between both. They both require a startup capital even though what is required in binary option is much higher. The major difference is that most people who go into binary option do it as business and as a way to make money even though they understand the risk but most gambling players do it for entertainment.

For example, I have been gambling for 5 years now and I am only playing for fun, not minding what I loose but I can’t do this with binary. But in binary option, I am always prepared to display my skills which are what it is all about.

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For me, there is no difference between the binary option and gambling because both binary option and gambling are trying to eat my money until it's empty. A binary option is more dangerous than usual trading that we do right now, and I do not prefer to trade binary option until now. Once I've been told that the binary option needs to learn many indicators to predict where the price moves and I cannot do that thing.

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Quote from: barbara44 on August 28, 2019, 12:31:35 PM

gambling is not a risky game, it’s an entertainment game that is luck based and I don’t think that should be considered as risk, I have been gambling for 3 years now and I have not been under any unnecessary tension because of risk, I play my games for fun and I enjoy every bit of it.

There are many people that don't gamble just for fun. There are many people that have lost huge amounts of money. There are many people that cannot their gambling habits. They spend a lot of time on gambling. For such people there is a high risk in every game they play. Gambling is very risky for such people as the outcome of the game can affect their life. There are many people lose in gambling, then try to recoup previous losses and finally lose all their money. Gambling is not just a fun for all the people. There are many people addicted to gambling.

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

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.

The fact that you've tried multiple strategies you probably found online must be the main reason you've had a bad experience with loses.

Anything that is offered for free online and is advertised as a "winning strategy", is either (A) going to fail and become useless as soon as many people try to use it, or (B) it's a flat out scam attempt, purposely getting people to use failing strategies in order for someone else to win.

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Quote from: sheenshane on August 27, 2019, 06:38:56 AM

Quote from: DarkDays on August 27, 2019, 04:40:25 AM

snip-
TLDR: Binary option require skill, gambling (usually) doesn't.

Even though the Binary option has required skills and technical analysis but in the end, they are the same with gambling thought. Yes, gambling requires only luck and maybe strategy but mostly doesn't work. A binary option is needed more capitals rather than gambling that you only spend an amount that you can afford to lose.

When it comes risk both of them has nothing difference, they are all very risky and the majority of the percentage is based on luck.

I don’t so much understand what you mean by they are both risky, gambling is not a risky game, it’s an entertainment game that is luck based and I don’t think that should be considered as risk, I have been gambling for 3 years now and I have not been under any unnecessary tension because of risk, I play my games for fun and I enjoy every bit of it.

I have a very little knowledge of binary options and do not know how risky it may be for those that are actually using it, but one thing that could probably make both look alike is the capital that is maybe probably involved. why one is risky because it’s a business related one and the other one is played with joy because it’s for entertainment.

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Quote from: emberbekas on August 28, 2019, 07:26:07 AM

the difference between gambling and binary options is very thin. Gambling like, sports betting is illegal in some countries, but binary options, mostly, is legal.

Binary option is a kind of trading game so its normal that it is legal because trading is profitable , less risky and not considered as a kind of gambling whilst gambling , gambling is knowns to have a negative/bad reputation due to its higher risk and cant be consider as profitable at all, so alot of places and countries are restricting it

however gambling is still playable because it gives entertainment

. the legality and illegality issue is actually a big thing not slim .

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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?

We need to make a continuous analysis in binary options to be able to master the things we use in such habits. But, because most beginners who come to binary options don't have enough knowledge about how to handle their activities, they tend to gamble rather than trading. Frankly, the difference between gambling and binary options is very thin. Gambling like, sports betting is illegal in some countries, but binary options, mostly, is legal.

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Quote from: target on August 25, 2019, 11:35:22 AM

You are playing binary option in the trading platform so basically you are a trader in the market but betting to which the trend is going in a given time frame. I would still consider it trading if you are using the broker's platform. If you play the binary option in a Casino that I think would be considered gambling.

Quote

If you play the binary option in a Casino that I think would be considered gambling

This made me laugh. I bet alot of things could easily be regarded as gamblings once they have casino attached to their names. The confusion stems from the fact that gambling is not properly defined. Alot of things we see as "gambling" do not really qualify as core definition of gambling

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I've tried several Binary Options platforms like IQ Option, FinRally, and OlymTrade the result is I suffered losses... indeed several times I had a big profit, but the loss I received was greater than the profit I made.

so I think the difference between Binary Options and Gambling is;

Binary Options -> PURE LUCK

Gambling -> 50% luck, 30% patience and 20% skill & accuracy

I'm not saying that Binary Options are bad, it's just that I don't recommend the platform

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Quote from: Bagaji on August 27, 2019, 05:57:46 PM

If one look at binary option trading and gambling holistically you will see that there is no much different between them since you the player is not privilege with some analytical tools to help you in making an inform decision before you participate in any of them.

But in the binary option, I am sure that there will be some analytical tools that can help us to make a profit. Binary option and gambling will be different if we can use the tools in the binary system because we don't depend on the luck itself, but we also know how to analyze the market.

Perhaps, if we don't have any sign in the binary option, then it is called as gambling because we cannot use any tools nor we don't know how to use the tools.

The other differences between the binary option and gambling will be the amount of money we use. In the binary option, we should have some amount to start, but in the gambling, we can use the faucet to start although we cannot bet in big money.

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If one look at binary option trading and gambling holistically you will see that there is no much different between them since you the player is not privilege with some analytical tools to help you in making an inform decision before you participate in any of them.

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Quote from: EdenHazard on August 27, 2019, 04:33:14 PM

Quote from: target on August 27, 2019, 12:07:00 PM

Quote from: milewilda on August 25, 2019, 04:23:59 PM

Quote from: target on August 25, 2019, 11:35:22 AM

You are playing binary option in the trading platform so basically you are a trader in the market but betting to which the trend is going in a given time frame. I would still consider it trading if you are using the broker's platform. If you play the binary option in a Casino that I think would be considered gambling.

Even if you are playing on a gambling site you can still see some brokers platform and take your decision from there which means its still tied up with your trading analysis unless if you do just bet for the price movement without any basing then its pure gambling but if you do apply some analysis with it then its not considered as gambling.Fairness of the platform will be the issue here yet price ticks should be based on top exchange.

I'm pretty sure a trader will be looking at a chart when they play binary option so they are not gambling for they do have insights as to which way the trend goes in certain time frame. but if he isn't watching the chart, he sure is just guessing where the market goes. Some users playing binary option don't trust the brokers in crypto, they prefer the brokers in forex market where they can use the metatrader software. We've seen it many times crypto binary optoin brokers turned scam in the end.

Basically the binary option service itself is a scam , it's a fraud work behind what they call as trading ... bullshit. The chance for a binary option company to manipulate the software is pretty much high , actually there's too much undisguised manipulations , everyone can feel ot once they get in the game.

Pretty much i prefer to go straightforward to gamble rather than get scammed by binary option. The difference is that clear.

Well, everyone had their own insights towards Binary options trading yet even on your part its a scam but there are still people who do engage to this binary thing.
Yes, you can eventually felt it when theres manipulation or everything sounds doesnt right while your are trading with it.I cant deny that high chances of manipulative ticks which will result to loss.This is one of the reason why i left BO.

Topic: What is the difference between binary option and gambling? - page 3. (Read 784 times)