Is fOREX different from sport betting?

[General01]

I heard that in forex we make analysis.
And that is not far from what is done in sport betting: predicting the outcome of a game after some analysis.
Are they not similar?

 

[Sherman198]

Imo! I don't really see anything different between the two. The two has to do with analysis then on which you would make your prediction. And I believe sport betting is still much easier to analyze than forex.

 

[General01]

I heard that in forex we make analysis.
And that is not far from what is done in sport betting: predicting the outcome of a game after some analysis.
Are they not similar?

This came up as a result of some arguments I had with one of my friends.
He was defending and trying to justify that forex trading is not a sin from the biblical standpoint while asserting that sport betting is a sin.

 

[btaliat]

Betting and forex may have the same quality and work in the same manner but the two are extremely different in my own opinion. Forex is foreign exchange which involves trading in money and you need technical and fundamental analysis for it. Betting however needs both analyses but the outcome is not always as a result of your analysis but based on your luck. After all, you are not the players neither you are the referee in football betting, for example.

 

[ifcmarkets]

The key difference between forex and sports betting is that once a bet has been 'struck' it cannot be canceled outright. Forex trading there's space more flexibly in terms of market shifts and position changes meaning you can recover your loss with profit while betting is a lose or win game.

Both have a large risk factor, and a few people are successful in day trading and betting. Professional sports bettors rarely sustain a long-term winning percentage higher than 55 percent, while A realistic win rate would be anywhere between 50-80%. The top professionals will be getting higher win rates they can adapt entries to suit their experiences.

Learn more about what is forex market and forex trading work here: ifcmarkets.com/en/about-forex/what-is-forex

 

[Wiserr]

Considering the fact that i am not into the both of them but i think they are not the same but are related,forex has to do buying and selling crypto coins,while bet is different from it.

 

[Mandy96]

I think I can relate with the point you were trying to make with your thread, I guess you were trying to compare it due to the fact that they both have something in common which is, predicting, to be honest, forex trading is all about prediction which is what they do in gambling as well, since when I realized this, it has made me to lose interest in the business because there is no actual to tell if you are good at it or not, it is just like a game of dice which all depends on luck, I think that’s what the poster is driving at, if I’m correct.

 

[sincerem]

Forex trading works similar to cryptocurrency trading and very much different from sports betting or any kind of gambling options. It deals with currency exchange in a digital way. With some level not price fluctuations, that requires a trader to keep hold or monitor the progress of each fiat currency to get the better pick of the pairs suitable for long term or short term trading. The terms in forex trading is simply the same with cryptos type. They are both technical in nature, and not like gambling that dwells mainly on how lucky the bettors are, and not my technical analysis.