In gambling, one party wins and the other loses. But in the long run, both sides see a reduction in their wealth. Many people have destroyed their money and assets through gambling and betting. However, the person who organizes the gambling or betting always makes a profit. His profit never erodes, no matter how much the players lose. This pattern is true in many areas, including the stock market, crypto trading and even Splinterlands.😁
In the stock market, you may lose your money, but you still have to pay your brokers, the exchanges and the government. They make a profit regardless of your loss. And when you make a profit by luck or your efforts, the government earns even more by taxing you while also earning from brokers and exchanges through taxes. So the government is always the party that gets the lion’s share.
In the crypto market, the same story repeats. You may earn or lose but the exchanges always collect their fees. If the exchange is hacked, you lost all of your assets while getting nothing from the exchange as compensation.
You may ask why I mentioned Splinterlands. It’s because you buy cards to play, pay fees to participate and when you list your cards for sale, you have to burn your DEC. In return you gets soulbound cards that are worthless because neither you can sell them, nor you can burn them and earn tradable tokens. In fact, it has become a losing bet which once was a great game. It can still be saved if a few changes are made.
Thanks for reading.
