Bitcoin
Proverbs for Gambling: Do They Exist?
Gambling as a recreational activity has been enjoyed for years between friends and family. Its history is as old as that of society as we know it. Before the advent of land-based casinos, there were gambling halls where the activity was enjoyed. Now, you can use your smartphone to log in and play at online casino real money all you want.
A lot has been said about gambling since it was first discovered, including proverbs, puns, anecdotes, and social remarks. Much can be learned from online casino adventures playing real money games. Most of the quotes about gambling tend towards an awareness of the dangers and risks involved. Others provide advice punters can follow to make better financial decisions for a more productive time. In this article, we explore some proverbs for gambling.
Proverbs for Gambling
There are many games provided at online casinos for your entertainment and even more sayings to accompany them. Gambling is a high-risk activity, not the time to recoup your losses. Make sure you sign-up at a reputable online casino to play your favourite slot games.
“The Best Throw of the Dice Is to Throw Them Away.” – English Proverb
This proverb warns about the dangers of gambling using the throw of the dice for imagery. It can be a recreational activity, but it gets exciting when you stand a chance to win some money. This illusion can cost you a lot if you have no lid on your finances. Remember that the odds are always against you and the house always wins. Gambling is not worth your obsession and addiction. If you think you have a problem, try seeking help from family and friends.
“Nobody Has Ever Bet Enough on a Winning Horse.” – Chinese Proverb
There are many wise proverbs credited to the Chinese, and this one is just as sensational. Losing a wager can have you wishing you had not made it in the first place. However, it is normal to wish you had placed a higher bet when you experience a lucky turn, especially if you lost the next one. Gambling should be done responsibly, and you should never chase your losses. Always proceed with a plan and never give in to your emotions.
“If You Don’t Gamble, You’ll Never Win.” – Charles Bukowski, Writer
This piece of advice from the German-American writer and poet Charles Bukowski highlights one of the first rules of gaming. The only way to win is to play, as there are no rewards offered for non-participation. As with real life, you lose all the shots you never take. Admiring others as they rake in huge sums will not get you any closer to the other prizes provided if you do nothing. You may not win all the games you come across, but you win none if you don’t participate.
“Quit While You Are Ahead. All the Best Gamblers Do.” – Baltasar Gracián Y Morales
Words from this 17th-century philosopher remain valid today. The philosopher suggests that you always take away your wins from the online casino and not bother waiting till it becomes very big. This is because it is not easy to find a winning streak. If you are lucky enough to find one you can use to recoup your losses and accumulate more funds, an exit plan is not a bad idea. It is better to leave with your winnings than to keep playing till you lose it all, which is certain since the house always wins.
“Hoping to Recoup Is What Ruins a Gambler.” – Irish Proverb
Most proverbs aim to subtly discourage not gambling itself but the gambler from getting too carried away since it is a game after all. This one suggests that you don’t play without a plan. Slots have some of the best chances to win a jackpot, as the Random Number Generator (RNG) can decide you will get the coveted prize. Many players tend to get carried away here. When you’re not thinking clearly, you stray further and further away from your plan.
“If You Ain’t Just a Little Scared When You Enter a Casino, You Are Either Very Rich, or You Haven’t Studied the Games Enough.” – Terrence Murphy, Writer
A subtle message lurks in these words. The traditional or online casino is a thrilling experience and it is normal to feel a little trepidation when you step inside or log into one to play your favourite online slots. Knowing you will be putting your personal funds at stake is enough to scare anyone.
“If I Lose Today, I Can Look Forward to Winning Tomorrow, and if I Win Today, I Can Expect to Lose Tomorrow. A Sure Thing Is No Fun.” – Chico Marx, Comedian
These words provide more insight into how random the results can get when playing at a casino. Anything can happen at the tables or slots. It is possible to enjoy a winning streak, only to have it followed by back-to-back losses. The important thing is to stay calm through the unpredictable nature of gambling. As you proceed in the game, stick to your budget and strategy. If you’re playing for a progressive jackpot, ensure your bankroll can last long enough for your odds to improve.
“At Gambling, the Deadly Sin Is to Mistake Bad Play With Bad Luck.” – Ian Fleming, Casino Royale
This line from the famous book Casino Royale by Ian Fleming emphasizes how crucial it is to be even a little skilled before playing. In a game of chance like roulette, it is easy to blame your luck instead of knowing the types of bets you can place to enjoy a better time. Online slots go as far as displaying the returns-to-player (RTP) percentage, which is how much the casino can allow you to win on average. Use the demo mode to enjoy free gaming if you need to learn.
“Luckiest Is He Who Knows Just When to Rise and Go Home.” – Chinese Proverb
Here, it is suggested playing with a plan is the real trick to winning. The jackpot is a huge payout reserved for only the luckiest. Winning one can potentially cover all the losses you ever made in the casinos. However, true luck lies in knowing how to play and how and when to quit. At the end of the day, the real winner is the gambler who knows when to lose interest. This way, you can enjoy a refreshing session the next day or after some hours instead of getting yourself an addiction, like the one that worries gambling addiction experts over the fact that sports betting became easier.
Honourable Mentions
There is always so much more wisdom when it comes to gambling. Here are some of the proverbs we didn’t include:
- “If you must play, decide upon three things at the start: the rules of the game, the stakes, and the quitting time.” – Chinese proverb;
- “There are two great pleasures in gambling: that of winning and that of losing.” – French proverb;
- “Hoping to recoup is what ruins the gambler.” – Irish proverb;
- “The lottery; a tax on people who are bad at math.” – American proverb.
Conclusion
Most of these are words to remind you to apply cautionary brakes when playing your favourite titles. A lot of innovation has been enjoyed in the gambling industry, and casino games are now more accessible than ever. This also means more caution has to be applied, and it should be done responsibly. Ensure to wager within a budget and do this on a trusted online casino site. If not, you may be risking a lot more than your money. Canadian players should endeavour to sign up on legitimate casino sites to play their favourite online slots. This will provide a better gambling experience.
In March 2024, Bitcoin soared to a historical high, nearing 70,000 euro per coin. How does this impact the iGaming market? Being a tech company with over 15 years of experience and an innovator in crypto iGaming software development, SOFTSWISS shares anticipations in its quarterly crypto analysis.
Over 220 brands powered by the company engaged in crypto transactions during the first quarter of 2024, which is 12% higher than the previous quarter. SOFTSWISS experts analyse the data gathered from crypto-friendly brands by employing extrapolation, comparative, and correlative analysis.
iGaming Market Overview: Unveiling Anticipated Growth
The size of the global online gambling and sports betting industry is expected to rise significantly and exceed 170 billion euro by 2032, according to Statista. Based on SOFTSWISS data, the iGaming market has demonstrated a stable pattern of growth year after year.
In absolute terms in euro, the Total Bet Sum grew by 5.8% in the first quarter of the year compared to the last quarter of 2023. Analysing the year-on-year increase, comparing Q1’24 with Q1’23, the growth is more impressive, showcasing a 47.2% boost.
Simultaneously, the Total Bet Count, both fiat and crypto, displayed a slightly larger gain in the first quarter of 2024 compared to the previous quarter, surpassing 6.1%. The indicator’s year-on-year boost is much more notable, revealing a 57.2% increase.
The popularity of iGaming in recent years has been fuelled by its global reach and accessibility due to constant technological advancements. On one hand, the quality of internet connectivity continues to rise, while on the other, new payment methods are emerging, simplifying payment procedures.
The in-depth quarterly analysis, ongoing since the beginning of 2022, reveals that fiat bets are undergoing more substantial growth compared to crypto bets. In Q1’24, the Fiat Bet Sum increased by 6.9% compared to Q4’23, while the rise of Crypto Bet Sum was at 2.4%.
The more active growth of fiat bets led to a slight decrease in the share of crypto. In the first quarter of 2024, the crypto share in the Total Bets Sum settled at 24.4%, decreasing by 0.8 percentage points (p.p) compared to the last quarter of 2023.
What is the State of Crypto in iGaming?
Analysing crypto bets, it is crucial to highlight that almost 93% of them are facilitated through the in-game currency conversion tool, which is gaining traction. This mechanism allows operators to engage players with cryptocurrency assets in games initially tailored for fiat only. Operators that adopt such options are gaining more competitive advantages in the market.
While the Q1’2024 Crypto Bet Sum shows a moderate 2.4% growth compared to the previous quarter, the year-on-year analysis demonstrates a 20.8% increase. The Crypto Bet Count remained unchanged in Q1’24 compared to the previous quarter’s indicator. Simultaneously, the metric increased by 21.3% year-on-year. The figures speak volumes, showcasing a consistent interest among players in crypto gaming.
“The lack of a substantial increase in the number of crypto bets during Q1’24 can be partly attributed to the significant rise of the Bitcoin exchange rate during this period, leading players to be more cautious with their crypto bets. This trend mirrors the situation in the first quarter of the previous year when the Bitcoin exchange rate surged following a decline at the end of 2022,” comments Vitali Matsukevich, Chief Operating Officer at SOFTSWISS.
What Distinguishes the Average Crypto Bet?
The average crypto bet increased to 1.71 euro in the first quarter of the year from 1.66 euro in the last quarter of 2023. This growth correlates with a significant strengthening of the Bitcoin rate during the first quarter of 2024.
The average fiat bet remained steady at around 0.81 euro in Q1’24 and Q4’23. The average total bet stayed constant since the second half of the previous year and is equal to 0.93 euro.
Notably, the average crypto bet is double that of fiat. This indicates that digital currencies are preferred by higher-income players.
Why Did Bitcoin’s Share Drop?
The Top Five most operated digital coins in iGaming have remained stable during the last two years with minor changes in ranking order. The top still includes Bitcoin, Ethereum, Litecoin, Dogecoin, and Tether.
In Q1 2024, Bitcoin experienced a significant decline of 9.4 p.p. compared to Q4 2023. This could be attributed to the bolstering Bitcoin exchange rate and players exercising a more cautious approach towards it.
In contrast, the shares of other digital coins have increased. Ethereum and Litecoin showed growth of 4.0 p.p. and 3.8 p.p., respectively, during the same period. Simultaneously, Dogecoin rose to fourth place in the ranking, leaving Tether behind.
Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, summarises: “The benefits of employing digital currencies, such as fast transactions and anonymity, still attract many players. Embracing cryptocurrencies in iGaming can boost operator profits despite their volatile nature.
As the Bitcoin rate is expected to strengthen after the Bitcoin Halving, the average crypto bet and projected gains may see a notable impact. During such promising times, it is crucial to have reliable and experienced partners to navigate the path to success.”
About SOFTSWISS
SOFTSWISS is an international tech company supplying software solutions for managing iGaming projects. The expert team, which counts over 2,000 employees, is based in Malta, Poland, and Georgia. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform, and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.
The post Navigating Bitcoin’s Impact: SOFTSWISS’ iGaming Industry Overview appeared first on European Gaming Industry News.
In its LinkedIn newsletter, ‘The SOFTSWISS Special’, SOFTSWISS, a global tech expert with over 15 years of experience in iGaming, delves into the impact of Bitcoin Halving on the iGaming realm.
The recent historical moment of Bitcoin Halving took place on 19th April 2024. SOFTSWISS, a pioneer in crypto-friendly iGaming software, shares its insights and forecasts for how this event may shape the future of iGaming, shedding light on potential opportunities and challenges for industry stakeholders.
What is Bitcoin Halving?
The Bitcoin halving is a scheduled event that occurs approximately every four years or every 210,000 blocks. During this event, the reward for mining and verifying new blocks is reduced by 50%, resulting in miners earning only half the number of BTC per mined block.
Since its launch in 2009, Bitcoin’s mining reward has halved four times, occurring in 2012, 2016, 2020, and 2024. The recent April halving reduced the reward to 3.125 BTC per block. Such events are crucial for Bitcoin’s scarcity and inflation control, ensuring that the total supply never exceeds 21 million coins and aligning with its deflationary principles.
Historically, each halving event has resulted in a rise in Bitcoin’s price. This is attributed to the reduced supply and increased scarcity, although other market factors have also influenced these outcomes.
Exploring the Impact of Bitcoin Halving on the iGaming Industry
To provide an in-depth analysis of the Bitcoin Halving impact on iGaming, SOFTSWISS invited Bradley Peak, blockchain expert and tokenomics adviser, to share its anticipations.
- Bets rise: The halving is expected to lead to an increase in Bitcoin’s value. If the trend of impressive price surges persists, Bitcoin-friendly iGaming brands could see a positive impact.
- Crypto adoption increase: Implementing crypto-friendly models has the potential to boost player trust and transparency in iGaming. Additionally, it could rejuvenate unique gaming experiences like provably fair games and decentralised casinos.
- Regulatory frameworks improvement: The recent Bitcoin halving could prompt regulatory bodies to reassess their stance on cryptocurrency gambling. This could lead to new regulations ensuring fairness, responsible gambling, and anti-money laundering measures in the crypto-driven iGaming sector.
Bradley Peak, blockchain expert, comments on the recent changes: “Any transformation will not be without its challenges. It is important to adapt – invest in employee learning and development, onboard crypto processing, and make sure your platform remains secure in the process.”
Explore the influence of the 2024 Bitcoin Halving on the iGaming industry in the fourth edition of The SOFTSWISS Special newsletter on LinkedIn.
About SOFTSWISS
SOFTSWISS is an international tech company supplying software solutions for managing iGaming projects. The expert team, which counts over 2,000 employees, is based in Malta, Poland, and Georgia. SOFTSWISS holds a number of gaming licences and provides one-stop-shop iGaming software solutions. The company has a vast product portfolio, including the Online Casino Platform, the Game Aggregator with thousands of casino games, the Affilka affiliate platform, the Sportsbook Platform and the Jackpot Aggregator. In 2013, SOFTSWISS was the first in the world to introduce a Bitcoin-optimised online casino solution.
The post Should iGaming Be Worried About 2024 Bitcoin Halving? appeared first on European Gaming Industry News.
Bitcoin Miner, the world’s number one Bitcoin game, is celebrating two years of its collaboration with ZBD, a leading fintech company powering digital economies for gamers and developers. Since the partnership began, Bitcoin Miner has gone from a forgotten title with no players to becoming one of the largest play-and-earn games ever, with over 2 million lifetime users.
ZBD’s Lightning-powered payments technology enables developers to inject instant rewards into their games to boost retention and community engagement. Fumb Games, the studio behind Bitcoin Miner, partnered with ZBD in March 2022 to help revive its flagship title, enabling it to reward players with fragments of Bitcoin for playing the game as normal. From the outset, the integration of ZBD’s tech had a marked impact, leading to a 12x boost in 30-day retention. Two years on, Bitcoin Miner is achieving 40,000 daily active users, making it the biggest Bitcoin game by user count.
Besides the retention benefit of rewards, which leads to player retention that exceeds 6 months, the success of Bitcoin Miner has also been fueled by community-based features such as regular live events. The majority of Bitcoin Miner players are US-based millennial males who enjoy engaging with gaming communities, with weekly events leading to a 20% increase in revenue. As well as its own community of engaged players, Bitcoin Miner benefits from the ZBD app user base of more than a million gamers.
Paul West, Founder of Fumb Games, said “Bitcoin Miner has proven that US players love games that are fun, snackable and rewarding. The game is not only sustainable, but has soared to new heights since the partnership with ZBD. It’s no surprise that I’m very excited for the future of bitcoin and player-friendly rewarded games.”
Ben Cousens, Chief Strategy Officer at ZBD, said “The two-year collaboration with Paul and Fumb Games on Bitcoin Miner has been a quintessential success story for what we’re building at ZBD. It proves the value in offering rewards for gamers and the success of ZBD’s rewards and payments tech at making it possible at speed and scale. We will no doubt see further impressive numbers for Bitcoin Miner that cement its status as world’s number one Bitcoin game, and we also look forward to extending the potential benefits of Bitcoin rewards to more developers.”
In November 2023, Fumb Games also integrated ZBD’s technology in its idle tycoon RPG SpaceY. ZBD works with more than 100 game developers worldwide, including major brands such as Square Enix, and is also used by innovative adtech companies like Slice and AdInMo.
The post Bitcoin Miner celebrates two years of hugely successful collaboration with ZBD appeared first on European Gaming Industry News.
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