Some individuals are wary about becoming involved with the world of investments, as they liken this approach to gambling. Interestingly enough, this is at least partially true. The online casino sector and the world of investing actually do share a number of traits in common. What are some of the most notable features of each and why are a growing number of traders becoming interested in virtual casinos? You may very well be surprised with the observations highlighted below.
A Copious Amount of Research
Casino players appreciate the learning curve involved with their trade. Although beginner’s luck can sometimes occur, research is crucial for anyone who wishes to enjoy long-term success. Poker enthusiasts spend untold hours analysing successful strategies. Blackjack players are often interested in statistics. Those who enjoy slots take into account concepts such as return-to-player (RTP) and volatility.
These approaches are just as valid within the world of online investing. A great deal of research must occur before becoming actively involved with a specific asset class. This can involve methods such as Fibonacci retracements, candlestick charts and technical analyses. Either way, the main intention is to make the best decision with the help of the right information.
A Host of User-Friendly Platforms
Online trading and virtual casinos have come a long way thanks to modern digital technology. It is now possible to access trusted platforms with the click of a button. Most major providers likewise offer dedicated smartphone applications that are ideal for those who wish to remotely access these services. So, it is just as easy to play online slots as it is to execute a short-term Forex (currency) trade. These are some of the very same reasons why so-called novices are becoming interested in both sectors. As the middleman has essentially been taken out of the equation, the potential to enjoy higher profit margins is undeniably attractive.
Risk Versus Reward
Investors and casino enthusiasts both understand that it is impossible to eliminate all risks. Their intention is instead to mitigate the presence of these risks. In the same respect, some ventures are more volatile than others (while also offering more tangible rewards). Margin trades are sometimes known for their unpredictable nature and high levels of exposure. Certain casino games such as roulette can also be quite turbulent due to their seemingly random nature. Simply stated, investors and online gamblers will therefore need to weigh these risks in relation to the possible rewards.
The Ability to Learn from Mistakes
Finally, both individuals accept the fact that mistakes will be made from time to time. As opposed to becoming frustrated and walking away, they view these scenarios as learning experiences. This is indeed one of the best ways to progress to the next level and beyond.
We can now see that trading and the casino sector share a number of unique metrics in common. Regardless of which one suits your fancy, either approach can represent an excellent way to generate a substantial side hustle.
Taking Advantage of Bonus Offers
The has always been associated with a formidable amount of competition. This is why casino platforms make it a point to entice new users. These often come in the form of lucrative bonus programmes and first-time registration rewards. Matched deposit bonuses, free spins and different membership tiers are all examples of how casinos market their services to a discrete demographic. Of course, users are always keen to take advantage of such offers.
This same principle can be applied to the world of online trading. Major platforms understand the simple fact that investors appreciate the value of a personalised rewards structure. Free trades, access to the latest investing news and automatic membership within private financial forums are some of the ways in which portals can resonate with the end user. There are also instances when investors who reach a certain level are provided with the option of a VIP membership plan.
Focusing Upon a Single Category
Those who enjoy success within the world of online gambling rarely dilute their skills by playing a host of different games. On the contrary, they tend to focus upon a single category (such as blackjack, poker or slots). This enables them to understand the intricacies of each as well as to further develop a discrete winning strategy. As more experience is gained, these skills can be applied to different variants of a specific game (Texas Hold’em poker and five-card stud are applicable in this sense).
Investors have embraced the same mindset. We rarely hear of a trader who claims to be an expert in Forex investments, commodities, CFDs, and ETFs. Instead, he or she places a great deal of attention towards a certain asset class. This is arguably the best way to rise above the masses.