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Binary Options and Casino Gambling - Differences and Similarities

There is little doubt that binary options have the potential to somewhat revolutionary when it comes to taking chances on the financial markets. In fact, one writer may have put it best when he described it as: "A simple way to articulate one's opinion on market movements."

That's right. It is very simple, and it affords the opportunity for anyone and everyone to be involved at some level in a quasi-investment. At the same time, there is some controversy associated with the sites, since they do indeed use that term (investment) yet are regarded in gambling circles as being a betting apparatus, and there has been a call for regulation on that basis.

Is it like casino gambling? Well, there are some similarities, because it certainly can be argued that one is "betting" on the outcome of an event. Of course, those who would make a clear distinction between the two are very quick to point out that while there are often built-in odds to overcome in a casino in terms of the ability to win a bet, such is not really the case with binary options. Indeed, binary options are not necessarily about straight probability, while much of casino gambling is based on that. And with certain binary bets, you could say that skill enters the picture a lot more than luck.

In that way you might be able to draw more of a comparison to sports betting. In a sportsbook, you are setting your risk, and wagering on the outcome of a certain event. You are also giving up something of a "vig" to the house. The way it is set up at most binary options sites, the break-even point is a little higher than it might be when you are laying 11/10 (-110) in a sportsbook; say, 54%-55%, compared to 52.63%. And the extreme short-term trades resemble the in-game wagering that has become very popular in a lot of online sportsbooks, where you can bet on what is going to happen in the next couple of minutes in a game.

The bottom line: fasten your seat belt and enjoy the ride!