The only way to earn in a Casino is to become the Casino
Whenever I'm looking for a place to invest my coins, I try to find something where I get a return on my investment. I've tested a lot of things lately. Today, I would like to share with you my experience of a website where you can get a return on your money from an online Casino.
Before I get started, I would like to draw your attention to the risk of such a business concept. Not only is gambling ethically doubtful but it can also happen that the page has to close for regulatory reasons. I've decided to invest about 50$ worth of tokens and try the site out. The website is called Betfury (referral link). It's a casino website with many games and also an investment options that allows you to participate in the earnings of the casino.
The website is not available in all countries and you might need a VPN to access it.
If you want to earn... then don't gamble
Ok before you get started, just be aware that it's almost impossible to earn money in a casino. So the only way not to lose money in a casino is being the casino. With Betfury you have the option to participate in the earnings of the website. You can do that by staking BFG tokens.
How does it work?
Every day, a percentage of the lost bets are put in a pot and distributed to the people who have staked BFG tokens. The staking concept is very simple. You only need to hold the tokens in your account and you will get daily dividends. You can claim these dividends on a daily basis either in the form of BFG tokens or in the form of a set of 5 tokens (BTC, ETH, TRX, USDT and BNB). By opting for BFG, you can reinvest your earnings and get a higher return. By opting for the 5 tokens, you get 5 interesting tokens in your wallet. Just keep in mind that if you chose the 5 tokens, you might need to wait quite long to get enough tokens to reach the withdrawal threshold.
When you want to withdraw your tokens, you can swap your tokens for BFG and then swap the BFG for LTC for example where the withdrawal fees are quite low.
What is BFG?
The BFG token is a BEP20 token on the BNB Chain. You can therefore also swap it on Pancake swap. The tokenomics are quite interesting. There is a total supply of 5 billion tokens. 65% of the tokens are staked at the moment and 33% of the whole supply has been burnt already. There is a burn mechanism in place that will reduce the quantity of tokens over time. The chart of the token is pretty stable.
Source: Coingecko
How much can you earn?
The return of the BFG staking is changing every day. The published APY lays mostly between 30 and 45% according to how busy people are betting on the site.
So far I've invested about 50$ worth of BFG and I get an average return of 0.05$ per day. This corresponds to an APR of 36.5%. On the website, they always speak about an APY. These amounts can be reached if you reinvest your daily earnings into BFG and let your BFG stake grow.
My conclusion about Betfury
I have invested 50$ and I will probably not add much more. I like the concept and the tokenomics but I don't really like the gambling side. I also like the fact that I get my dividends in good tokens. In the crypto world it's not that difficult to get high APR in doubtful tokens but it's difficult to get average APR paid in BTC, ETH or BNB...
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Really?
I actually love it when I hear one thing or the other about money, lol
Thanks for sharing this
I’d put it in my list to see if I’d finally give it a try
Thanks for stopping by!
I recently read an article about someone who has stakes in different crypto casino's. Will see if I can find it. Maybe interesting as well! :)
Edit: https://peakd.com/hive-167922/@costanza/sports-betting-blockchain-projects-or-2023-winners-and-losers
@costanza writes actually often about his portfolio in such betting / tokens.
He makes very intersting posts about these sites. I think that such sites have a big advantage which is that they have a business model that actually generates a profit. From a tokenomics point of view, this can be pretty interesting especially if you can take the place of the bank :-)
I agree with you! The tokens are kind of stocks of these firms, albeit unregulated. Definitely an interesting concept! :D
Indeed, the high risk is fully reflected in the high returns, especially from the more centralized firms. It is quite addictive to invest in these but I'm glad so far that I did and managed to grow over the years. I'm still hoping for 1 or 2 to really take off at some point which hasn't been the case yet.
Completely agree with you, the only way to make money in a casino is to play the part of the dealer.
I had read a few articles about Betfury in the past but never looked into it.
Thank you for this article and for sharing your thoughts on this project that I knew little about
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It's definitely an interesting site that allows you to get casino rewards but I wouldn't invest too big amounts either. Thanks for stopping by!
I think I tried Betfury for a while for free. You can get some free crypto every now and then but I was dumb and started gambling a bit. It's a good thing that I didn't invest any of my own money but I guess it does work. The only thing is that the casino holds your crypto so if they don't want to pay, they won't.
You are right not your keys, not your crypto. That's another reason why I wouldn't invest too much into such a site.
You could also consider real life gambing ETFs too 😜. When it comes to something as "shady" as gambling, somehow I feel safer knowing they are a public listed company.
Haha, that's not untrue :-)
Thanks for sharing! I am still a novice when it comes to stuff like PanCakeSwap. Prefer to keep things simple and own the "blue chips" of cryptos. Hehe!
That's totally understandable :-)
I was actually able to learn a lot about money. Today. Thank you so much for sharing
You are welcome!
I didn't know about that much but thanks for sharing
Thanks for stopping by!
I would say that's some cool opportunity to invest some cash. I will check the website out later and maybe throw in any bit of cash I can spare. Thanks for giving us this info.
You are welcome!
I tested it out for a good while a few years back after it was launched. Rewards were better then, and after some time I stopped using it.
I mainly like the fact that you get dividends paid in BTC, ETH and BNB :-)
Yeah, I liked that too. I think I sold my BFG before the bull market ended last cycle. Probably a good idea I did that too since I'm sure it went down.
Betfury had been on of my longer-term holdings and I've actually kept track of the dividends for some time.
The mining aspect at the start really put a lot op pressure on the dividends and price but now since it became deflationary at only a burn rate of 0.1% a month things have stabilised a lot.
I do really love the Gamblefi space though which is one of the only ways I would say to get real yield from actual customers and revenue in crypto. The High regulatory/centralization risk also makes for really high yields.
This is quite true. So far there are not that many business models where it's possible to generate a real profit with crypto.
You are right, people rarely become rich as gamblers. This is token really interesting
Most gamblers only make the casino richer :-)
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