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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
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Unlocking the power of cryptocurrencies to step inside the decentralised casino
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SYNOT HAS BEEN GRANTED LICENSE FOR THE BULGARIAN MARKET
SYNOT Group has been granted a 10-year license for production, distribution and technical support within the Bulgarian market. This significant step is part of SYNOT’s further expansion in the Balkan region, where the company plans to make its most successful products available to new customers.
“We are really happy with obtaining the license for the Bulgarian market“, said Stanislav Stanev, International Business Development Director of SYNOT Group. „Like this we can continue with our expansion plans within the Balkan region and make available our most successful products for the Bulgarian customers as well. The license is coming just on time for the upcoming BEGE expo in Sofia, where we are expecting to meet most of the local operators and have some fruitful discussions and presentations of our most successful products from both online and land-based divisions.”
For the first time ever, SYNOT Group will present its extensive product portfolio at the Balkan Entertainment and Gaming Exhibition, which will take place from 27th to 28th November at the Inter Expo Center in Sofia. We are delighted to invite all visitors to our booth 2.18 where they will have the opportunity to explore SYNOT’s advanced multigame progressive jackpot systems MAGIC BALL LINK and SUPER LINK, the state-of-the-art cabinets, such as UP2-32, Eclipse FL-32 and UP1-27 as well as the latest titles from the proven game sets. Visitors interested in online slots or comprehensive iGaming solutions should also not miss our online section.
“Participating in BEGE is a valuable opportunity for us to strengthen relationships with partners and establish new collaborations in a Balkan region that we consider strategically very important,” added Stanev.
The post SYNOT HAS BEEN GRANTED LICENSE FOR THE BULGARIAN MARKET appeared first on European Gaming Industry News.
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GGPoker Unveils $24M End Of Year Giveaway – Celebrate December with Over $24 Million in Prizes!
December 1 through 31 – GGPoker to say #Thanks2024 with ticket drops, daily rewards and more
GGPoker, the World’s Biggest Poker Room, is excited to announce its $24M End of Year Giveaway, an extraordinary month-long festival running from December 1 to December 31, 2024. Packed with giveaways, tournaments, and rewards, the promotion is designed to delight players of all levels and close out the year in style.
The $24M prize pool includes the following highlights:
- $1M Paradise Online Ticket Drops: Randomly distributed tournament tickets during the upcoming WSOP Paradise Online series
- $12M 12 Days of Christmas Gift Boxes: Daily rewards for players logging in from December 15 to December 26
- $1M End of Year #Thanks2024 Flipout Tournament: A fast-paced, unique event running December 27 to December 31
- $10M December Cash Game Giveaway: Monthly leaderboards and promotions across GGPoker’s popular poker variants, plus $2.5M in GGCare & GGCheers rewards and $1M in bonuses for new players joining GGPoker in December
$1M Paradise Online Ticket Drops
Players participating in WSOP Paradise Online tournaments – running December 1 through December 15 – will automatically get a shot at winning one of $1M worth of tournament tickets, which will be dropped randomly as each event plays out. These tickets can be used to access some of the most exciting tournaments in the WSOP Paradise Online series, offering a shot at major prize pools.
$12M 12 Days of Christmas Gift Boxes
From December 15 to December 26, every player who logs in will receive a daily Christmas Gift Box. These festive surprises include:
- C$ Rewards
- Tournament Tickets
- Daily $100K Freeroll Tickets
- Sit & Go Tickets
- Snow Splash Items
Unwrapping a new surprise every day ensures that the holiday season is both fun and rewarding for GGPoker players.
$1M End of Year #Thanks2024 Flipout Tournament
To wrap up the year, GGPoker will host its #Thanks2024 Flipout Tournament, running from December 27 to December 31 and open to all GGCheers and GGCares qualifiers during this time. This fast-paced, unique format automatically pushes every player all-in each hand, creating an adrenaline-fueled path to big prizes. Qualifying is simple, and the players that make it through to Stage 3 will share in a $1M prize pool.
$10M December Cash Game Giveaway and more!
GGPoker’s popular monthly leaderboards will distribute $6.5M in prizes across multiple game variants, including:
- Rush & Cash
- Omaha
- All-In or Fold
- Short Deck Poker
Another $2.5M will be awarded through the long-running GGCare & GGCheers promotions, which reward players for bad beats, coolers, and lucky moments alike. Additionally, new players joining in December can claim up to $1M in bonuses, including welcome packages and daily freerolls.
“2024 has been an incredible year, and we couldn’t think of a better way to celebrate than by giving back to our players,” said Sarne Lightman, Managing Director of GGPoker. “With over $24M in prizes, including tournament tickets, cash giveaways, and festive rewards, the End of Year Giveaway ensures that every player, whether they’re seasoned grinders or just starting out, has the chance to finish the year on a high note. It’s our way of saying thank you and welcoming even more players to the GGPoker family!”
For full details about the $24M End of Year Giveaway, including terms and conditions, please visit: ggpoker.com/promotions/2024-end-of-year-giveaway/
The post GGPoker Unveils $24M End Of Year Giveaway – Celebrate December with Over $24 Million in Prizes! appeared first on European Gaming Industry News.
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GIANTX announces its Valorant team for 2025
Westside, Runner, and Tomaszy join Purp0 and Cloud to aim for a return to the top of one of the most prestigious international esports competitions
The global esports organization GIANTX has unveiled its new Valorant team for the 2025 Valorant Champions Tour (VCT). The primary goal is to qualify for the Valorant Champions, the world championship that will take place in Paris, after an uneven 2024 season.
The roster includes Cloud, Purp0, Westside, Runner, and Tomaszy. Cloud and Purp0 remain with the organization, while Westside, Runner, and Tomaszy are new additions.
- Cloud will take on the role of in-game leader (IGL).
- Purp0 will continue to bring his ability to perform in key situations.
- Westside joins from Diamant Esports and makes his debut at the highest level.
- Runner, previously with Team Vitality, played in the 2024 world championship.
- Tomaszy, formerly of Rebels Gaming and Karmine Corp, also joins the project.
The coaching staff will be led by Pipson, with Waylander as assistant coach. Both bring extensive experience from the competitive scenes of Valorant and Counter-Strike.
The EMEA region will feature 12 teams in the 2025 VCT:
- GIANTX,
- Fnatic,
- Natus Vincere,
- Team Liquid,
- KOI,
- Team Heretics,
- Apeks,
- BBL Esports,
- FUT Esports,
- Gentle Mates,
- Karmine Corp,
- and Team Vitality.
The official competition kicks off in January with the Kickoff Tournament, where teams will compete for a spot at the first international event of the year: Masters Bangkok.
This weekend, GIANTX will participate in the preseason tournament Intel Monsters Reloaded 2024 in Istanbul.
Their first opponent will be Team Liquid on Saturday at 6:00 PM. If they win, they will face the winner of the match between BBL Esports and SuperMassive in the final.
The post GIANTX announces its Valorant team for 2025 appeared first on European Gaming Industry News.
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