A Longitudinal Analysis Of Actual Bitcoin Gambling Transactions In A Decentralized Casino

Monitoring player behaviour is a subfield of gambling research that uses actual betting data to better comprehend how individuals wager. Due to its economic sensitivity and personal nature, this field of crypto gambling has always been limited by the availability of large-scale, real-world observational data. In addition, many earlier studies only had access to daily aggregate data, not individual transaction data. This suggests that, despite the existence of approaches for more comprehensive data, such as Fiedler’s work on poker play, there are few for casino game performance. This existing quo is disrupted by the use of bitcoin in gaming, which permits access to data at previously inconceivable levels of granularity. This access enables the evaluation of player expenditures in this new arena, the topic of this study.

Know about Transactions

All cryptocurrency transactions, including Bitcoin and Ethereum, are recorded on public ledgers called blockchains. Decentralized gambling applications support crypto-currency wagering. The transactions of individuals who utilize decentralized gambling software to place wagers are recorded on these public ledgers. This means that all transactions between these applications and the public are exposed. This is a paradigm shift in terms of the data accessible to gambling researchers, and it paves the way for a new field of player behaviour monitoring research focusing on leveraging this data to better comprehend player expenditure. Furthermore, since bitcoin transactions are pseudo-anonymous, the data is publicly available in an already anonymised form, reducing numerous obstacles to the use of personally identifiable information in academic research. Due to these characteristics, public access and pre-anonymization, decentralized gambling applications may become the focal point of data-driven gambling research in the future, as opposed to the corporate partnerships that are prevalent in the current literature.

There has been a dearth of work on any kind of decentralized (gambling) application. Early study by experts describes their existence and potential to transform the provision of online gaming services. However, little has been done to capitalize on the aforementioned data accessibility and transparency. There is a paucity of work on the analysis of bitcoin transactions in general, with none, to the authors’ knowledge, examining its use in gaming research. This is the first study to examine such applications from the perspective of gambling research, analysing player spending using well-established methodology.

Existing work on the utilization of online gaming transaction data for gambling research provides as a foundation for future study. Several behavioural measures can be described in many articles about the crypto gambling online.

Finally, these findings may be applicable to other forms of gambling for which analogous research has been conducted. Other data from more cryptocurrencies, such as the EOS network, and more applications on the Ethereum network may be necessary to draw generalizations from such mappings, as mentioned in this article and elsewhere. Increasing the sample size of both human and nonhuman participants is a crucial second step in developing reliable and generalizable data that will contribute to the advancement of this study.