Understanding gambling behaviour and risk attitudes using cryptocurrency-based casino blockchain data.

ABSTRACT: The statistical concept of gambler's ruin suggests that gambling has a large amount of risk. Nevertheless, gambling at casinos and gambling on the Internet are both hugely popular activities. In recent years, both prospect theory and laboratory-controlled experiments have been used to improve our understanding of risk attitudes associated with gambling. Despite theoretical progress, collecting real-life gambling data, which is essential to validate predictions and experimental findings, remains a challenge. To address this issue, we collect publicly available betting data from a DApp (decentralized application) on the Ethereum blockchain, which instantly publishes the outcome of every single bet (consisting of each bet's timestamp, wager, probability of winning, userID and profit).

SUBMITTER: Meng J 

PROVIDER: S-EPMC7657926 | biostudies-literature | 2020 Oct

REPOSITORIES: biostudies-literature