Crypto trading has become big business. Crypto traders make money buying and selling various cryptocurrencies. Although most believe crypto trading is similar to stock market day traders, that’s not true.

Crypto trading is more in line with you and your friends deciding which team to play to cover the spread in the Super Bowl than Gordon Gecko’s investment firm. Check out a fews ways crypto trading is associated with online gambling.

Online Gambling Associations with Crypto Trading

1. Novice crypto traders and online gamblers often fall for FOMO

FOMO stands for the fear of missing out. Online gamblers, especially novices, are prone to always go for the jackpot if they’re a casino player, or side with the public, i.e., bet the chalk, if they’re new to horse racing or sports betting.

Novice crypto traders jump on the latest, greatest, crypto, not knowing that many cryptocurrencies are designed as pump and dump coins. Few are designed like Bitcoin, Ethereum or Sui, with blockchain utilization and stability top of mind.

2. Many crypto traders and online gamblers look for value

While novice crypto traders and online gamblers fear of missing out, there are plenty of crypto traders who search for value. Whenever a crypto trader invests in a cryptocurrency, the trader always considers the reward potential based on the investment. Sports bettors do the same thing.

The name of the game for professional handicappers is value. But value isn’t just in sports betting lines or casino game payouts. Value is also created by how, like crypto traders, gamblers handle their bankroll.

Without discipline, creating value by managing one’s bankroll or crypto investment account, both the crypto trader and the online gambler will fail.

3. Online sports bettors and crypto traders study trends

Trends in crypto trading is listening to news and looking at charts. The same is true for sports bettors and baccarat players. For crypto traders, like stock traders, the trend is your friend. The saying isn’t always true, but in a lot of ways it is.

Sports bettors use trend analysis all the time. What happened in the past doesn’t happen in the future, which is why it’s important for crypto traders and online gamblers to pay attention to number 2 on this list. But trend betting, studying stats, and listening to the last news, for instance an injury to a starting NFL quarterback or the announcement that a major fund has decided to invest into a crypto, are big.

Crypto traders use stats, whether a cryptocurrency has gone up and down in price and when it has made up and down moves. We use stats in almost the same way.

4. Unlike stocks, crypto trades are short-lived trades, just like most sporting events

Casino games can last seconds. A horse race often lasts less than two minutes. The longest NFL game is 3.5 to 4 hours.

A lot of crypto traders, unless they invest in Bitcoin or Ethereum, don’t often keep their trades on for that long. Many crypto traders play a crypto, wait for it to go up, and then sell.

Online gamblers, like crypto traders, do make future bets. Who doesn’t want money on their favorite team to win the Super Bowl? But the bread and butter of a professional handicappers business rests in day-to-day scores.

5. Both crypto traders and most gamblers believe in individual sovereignty

Bitcoin was the first cryptocurrency that opened the door to true individual sovereignty. In today’s world, individual sovereignty means not only control over your money, your property, and your ideas, but it also means control over your digital life.

Crypto traders believe in full individual and digital life sovereignty. So do most professional gamblers. Individual and digital life sovereignty means freedom, which is something both crypto traders and most online gamblers are passionate about.

6. Sports bettors and crypto traders must have excellent self-control

This is the most important association between crypto traders and sports bettors. Without self-control the crypto trader can lose their entire investment and their investing account will crash to zero.

The same goes for us. We must have self-control. Without it, we are continually chasing, continually funding our sports betting bankroll, and never getting ahead.

Where to Bet with Crypto

Sports betting odds are available here at Nitrobetting. Create a Nitrobetting account now to place your stakes on any of the top games every week.

This is just one of the many sports betting guides that you can read here at Nitrobetting news. Stay tuned for more previews, guides and articles.

READ MORE: The Role of Blockchain Technology in Online Gaming