Can the classic saying “the early bird gets the worm” be applied to the person of the internet with no strings attached? Let’s say you get a notification or headline asking if you want to turn your $100 to $800. Of course, you want to make more money. But at what cost?
The earliest promotion of game wheels like the Cash App Wheel dates about three years ago. It started with the sharing of one user’s Cash App and the expectation you’d send a request of joining to another person. In a way, it’s more like a game of chance. Now more than ever, people are seeking ways to earn money fast and invest it. In efforts to do so, we see its first wave back into the pockets of the people who are quick to seek gain.
So what’s enticing people to join in at first glance? Indeed, as this game resurfaced, I couldn’t help but notice the headlines that it was labeled in efforts to reel “investors” in. From “gift wheel” to “blessing circle,” the game is overly reassuring that it is a guaranteeing influx of money for all! The younger generation is most susceptible to instant gratification, but they are certainly not gratified.
Participants usually don’t know this until they buy their way into the game, securing a spot in the wheel and work their way up in efforts to gain their money back. This is known as a “pyramid scheme.” Some of the games’ promotions don’t even have a description of how to play them. People have explained that due to the game’s design of requiring you to bring in recruiters to sustain the circle, the circle will eventually collapse. Once you’re in the game, it’s a different playing field. When the payout occurs for a person who breaks off of their circle and then creates a new one, there’s a chance of another payout to happen for the next person.
There are some other factors of the game that people don’t see coming. What happens when you stop recruiting? When does one person stop communicating in the group chat? What happens when one person in the newly joined circle stops expecting their payout? All these risks aren’t clear to people from the start of the promotion, which is reckless, considering that creators are selling the game and not ensuring its advancement. This investment strategy is used in multilevel marketing programs that businesses run and has proven to work, but now it’s taken to the internet. It’s even considered a type of fraud by the U.S Securities and Exchange Commission. We must direct our efforts to help educate others on the game’s risk factors, especially during rough times like these.
The promotion of the game undoubtedly sells you the promise of a money-back guarantee, but be advised. This information doesn’t come from a certifiable bank source, nor are Cash App recipients always reliable people to trust with your money. A lot of people agree that it’s a scam. Scammers are more invested in selling others a guarantee like this while taking advantage of those who are willing to take the risk. However, apps like PayPal help you earn your money back in a refund under the situation of being scammed. Overall, it’s a cycle. Not everyone can afford to get caught in a game like this when, in all actuality, it’s more like a game of chance and not a quick way to gain money. People stop joining. You might not get paid.