Blockchain
Unlocking the power of cryptocurrencies to step inside the decentralised casino
Researchers from the Department of Computer Science at the University of York have presented the first ever analysis of gambling transactions taking place in cryptocurrency casinos on the Ethereum blockchain.
In uncovering extreme behaviours, the study could assist in identifying the potential for financial harm via unsustainable spending among players, ultimately leading to better consumer protection tools.
The study unlocks blockchain transaction data to provide a detailed summary of spending behaviours, revealing how people are affected by this new form of online gambling.
Decentralised gambling applications differ from traditional online casinos in that players use cryptocurrency as a stake. The codes running the casino games are also stored on public ledgers, known as blockchains and cryptocurrency platforms such as Bitcoin and Ethereum use the technology to process payments and calculate game outcomes.
When players place wagers, their transactions are recorded on a blockchain in an anonymised form. Whilst this data has always been publically available, the technologically advanced nature of the applications has presented barriers to research and regulation.
As part of the study, researchers developed an algorithm to extract and decode transaction data from the Ethereum blockchain. The work examined more than 2.2m transactions from 24,000 unique addresses on three applications operating on the Ethereum cryptocurrency network (dice2.win, etheroll.com and fck.com).
Focussing on simple casino type games of chance, like dice rolls and coin flips, researchers found that the average decentralised gambling application player spends less than in other online casinos overall, but that the most heavily involved players spend substantially more.
As with regular online casino players, researchers found that those who generally place larger bets are more likely to wager larger total amounts over the duration of their betting careers, however this appears to be amplified in decentralised gambling application use.
The data revealed that the most heavily involved bettors wagered an average of 1,000 ETH (equivalent to approximately $100,000), which dwarfs the average 1.1 ETH (~$110 at time of study) presented by the majority of bettors.
In their assessments of typical ‘player’ behaviour, researchers were also able to identify the presence of non-human players, known as bots, in the data set. Bots may exist for a number of reasons, for example to artificially inflate the perceived popularity of the applications they are transacting with, or to attempt to win the jackpot from an application once it becomes statistically worthwhile to pursue.
The researchers cite that whilst they cannot infer the reason behind the bots’ existence, the identification technique they have developed presents an interesting area for future investigation.
Oliver J. Scholten, a PhD Researcher with the EPSRC Doctoral Centre for Intelligent Games and Game Intelligence, and member of the research team commented: “The study illustrates the power and scale of transaction data that decentralised gambling applications can provide to researchers”.
Scholten added: “These applications could really change the way people gamble online – we in the research community need to know how they operate, how to analyse them, and ultimately how to identify those in harm’s way.”
Dr James Walker from Digital Creativity Labs commented: “The work draws attention to cryptocurrency transactions as a tool for large scale in-vivo gambling research, and presents a robust foundation upon which multiple avenues of further analyses can be performed.”
The article is published by The Public Library of Science ONE at https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0240693
Blockchain
HIPTHER Announces Major Expansion into Fintech, Blockchain, and AI, Reinforcing Its Position as a Diverse Industry News Leader
Building on its established success in the gambling and iGaming sectors, HIPTHER Agency is excited to announce a significant expansion of its editorial focus into three dynamic industries: fintech, blockchain, and artificial intelligence. This strategic move is part of HIPTHER’s ongoing commitment to providing comprehensive, in-depth coverage across a spectrum of industries, including virtual reality, esports, and official global government releases.
Focused Expansion for a Diverse Audience
The expansion into fintech, blockchain, and AI represents HIPTHER’s dedication to staying at the forefront of technological and financial advancements. By integrating these sectors into the HIPTHER .com platform, the agency offers its audience a rich, diverse content experience, positioning itself as a one-stop destination for insights across these cutting-edge fields.
Enhanced Digital Presence and Accessibility
Complementing this expansion, HIPTHER continues to enhance its digital footprint. The agency’s Android app has already established a strong user base, and with the anticipation of an iOS app in 2024, HIPTHER is set to broaden its reach and accessibility. The agency’s social media channels are also being rebranded to reflect this expanded focus, ensuring a cohesive and comprehensive digital experience.
Unwavering Commitment to Quality and Insight
HIPTHER, known for its high-quality content in the gambling industry, extends this commitment to its new sectors. The agency’s team of experts and seasoned journalists is dedicated to delivering insightful, accurate, and timely information, catering to the needs of a diverse, global audience.
Zoltan Tundik, Co-Founder and Head of Business at HIPTHER, states, “Our expansion into fintech, blockchain, and AI is a natural progression of our mission to provide diverse, in-depth industry news. We’re excited to bring our expertise and quality content to these vibrant sectors, while continuing to serve our existing audiences with the coverage they trust.”
For more information, please visit HIPTHER.com
Blockchain
Empowering Women in Web3: Polish Blockchain Association’s Exciting Initiative
Hipther proudly announces the commendable initiative by the Polish Blockchain Association: the “Top Women of Web3, Central and Eastern Europe edition.” This groundbreaking effort aims to spotlight and celebrate the outstanding contributions of women shaping the Web3 landscape in Poland and the broader Central and Eastern European region.
Diversity as a Driving Force
Recognizing the transformative power of diversity, the Polish Blockchain Association acknowledges the invaluable impact women are making in the Web3 and blockchain industry. Despite these significant contributions, women remain underrepresented in the public sphere of the industry, particularly at conferences, webinars, and other events. The initiative seeks to address this imbalance and bring more visibility to the achievements of female colleagues in the region.
Nominate Outstanding Women
If you share this commitment to fostering diversity and inclusivity, we invite you to participate in this empowering initiative. Nominate outstanding women who have had a direct impact on the Web3 space over the past year. Whether it’s yourself or a colleague, we want to hear about the remarkable women shaping the industry in Central and Eastern Europe!
To nominate, simply visit the nomination page. The deadline for submissions is December 31, 2023, and the winners will be announced in January 2024.
Recognition and Rewards
The Polish Blockchain Association will select 20 outstanding profiles from the nominations, and the winners will be featured in a special report. This report will not only be published by the association but, subject to consent, will also be made available to conference and event organizers. This initiative aims to increase the visibility of women in core industry events as speakers and contributors. Additionally, winners will receive free tickets or discounts to attend the next year’s Tech of Tomorrow Conference, organized by the Polish Blockchain Association on September 19-20, 2024.
Inspire the Next Generation
By showcasing the diverse talent in the Web3 space, we aspire to inspire the next generation of leaders. Join the Polish Blockchain Association in supporting and recognizing the women who are driving innovation and excellence in the blockchain and Web3 industry.
Hipther is proud to stand alongside our Strategic Partners, the Polish Blockchain Association, in communicating this impactful initiative. Let’s work together to create a more inclusive future for the world of technology!
The Polish Blockchain Association is a non-profit organization fostering knowledge and experience exchange in the area of blockchain technology. Their mission is to connect experts, developers, enterprises and tech enthusiasts, and serve as a collaboration-enabling platform for the whole Polish and global blockchain community. Under the scope of this mission, they have joined forces with Hipther as Strategic Partners for the most impactful GameTech in-person gathering in CEE, the Prague Gaming & TECH Summit.
Blockchain
Oddin.gg Teams Up with Betswap: Pioneering a Hybrid Esports Betting Experience with Advanced iFrame Tech!
Oddin.gg has announced an exciting new partnership with Betswap, a leading destination for sports and casino enthusiasts. This collaboration aims to enhance the esports betting experience for Betswap and its user community by utilizing Oddin’s advanced iFrame
technology.
The first blockchain based exchange rate platform Betswap emerges as a groundbreaking platform that seamlessly blends the worlds of sports betting, casinos, and esports. Pioneering a novel approach, it’s both a decentralized and centralized hybrid, allowing users to experience the best of both worlds. The incorporation of the Oddin’s iFrame functionality extends Betswap’s reach to capture the attention and engagement of esports enthusiasts, gamers, and bettors alike.
Marek Suchar, Managing Director and Co-founder at Oddin.gg, says: “We are absolutely thrilled to announce our partnership with Betswap.gg, where we are harnessing Oddin’s sophisticated iFrame technology to enhance the esports betting experience. Together, Oddin.gg
and Betswap.gg stand ready to adapt swiftly to the dynamic changes introduced by CS2, showcasing our commitment to providing comprehensive coverage of the inaugural official CS2 matches. We stand at the vanguard of technical innovation with our esports betting solution, and we are honored to collaborate with a similarly pioneering technological firm that is actively exploring new horizons in the realms of blockchain and web 3.0 technology.”
Thawfeek Ameen, CMO at Betswap, comments: “In partnership with Oddin.gg, Betswap is thrilled to announce the integration of their avant-garde iFrame solution into our platform. Having meticulously prepared together, we’re poised to seamlessly navigate the pivotal transition to Counter Strike 2. This groundbreaking addition is set to redefine the esports betting landscape, taking our platform to unprecedented heights and providing our users with a superior esports betting experience. Beyond just functional enhancements, this collaboration is aimed at boosting engagement and attracting the new generation of esports enthusiasts. Our partnership with Oddin.gg perfectly encapsulates our unwavering commitment to excellence, further cementing our position in the rapidly expanding global arena.”
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