Crypto gambling dogs are everywhere, but you might not have seen how others lose money. Here's a recent example to show you how terrifying gambling can be!
This is the popular livestreamer "Seven" (七原くん) on Nico, who recently shared a series of emotionally charged livestream videos where he used his remaining assets to gamble on binary options (Binary Options, BO).
What are Binary Options?
Binary options are simply a "ultra-short-term financial derivative" that sounds like an investment product but is more like a legal online gambling.
"Binary" → Only two options: Rise (Call) or Fall (Put).
Investors bet on whether a specific target (usually forex, gold, stock indices, etc.) will rise or fall within an extremely short time (30 seconds, 1 minute, 5 minutes, etc.). Settlement is immediate:
- If guessed correctly → Receive a fixed return (e.g., betting 100 USD with an 80% return rate means getting back 180).
- If guessed incorrectly → Entire principal is immediately confiscated (back to zero).
Unlike traditional options, it has no "holding until expiration or strike price", it's just a quick "YES / NO" gambling.
Seven's Joy and Sorrow
This Japanese livestreamer recently started his "BO Season 2" theme, using his entire savings of 30,000 yen to trade forex between yen and USD. On his first try, he successfully earned over 5 times, turning 30,000 yen into 155,000 yen in just five minutes. This livestream attracted many viewers who cheered with him, experiencing the excitement of volatile investment and the crazy dopamine rush. Here's a fan-edited clip, mind the volume:
After Earning 150,000? Back to Zero!
As the saying goes, nine out of ten gambles lose. Especially with BO, an investment product close to gambling, the expected value is negative. Seven used his first earned 155,000 yen and predictably pushed it back into BO, and as expected, luck only strikes once. The second time, 155,000 yen went straight to zero. Viewers heard his desperate countdown cry "No～～～" while crying and pounding the table, finding it incredibly satisfying.
Adrenaline Pumping, Safely Exiting
In recent years, the crypto market has popularized the saying "trading is entertainment, entertainment is trading", referring to the unique trading culture of meme coin markets that provide investors with the thrill of extreme price fluctuations and strong community participation.
However, this investment approach is not far from gambling, which has given the crypto market a quite negative perception among traditional groups.
Further Reading: Trading as Entertainment vs. Tokenization of Everything: How Will Regulators Respond to the "Attention Casino"?
For many, the momentary happiness ends when the principal is lost and they have to go back to work. So, it's inevitable to advise everyone to do proper risk control. After all, works like "Gambling Apocalypse" and "FX Fighter Kurumi" have told us how terrifying gambling can be.
