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The other system is crypto-currency gambling, where the bettors are mostly crypto-currency users. Different types of crypto-currencies are used for wagering. Commonly used crypto-currencies include Bitcoin, Ethereum, and Bitcoin Cash, whose basic units are BTC, ETH and BCH, respectively. As the overlap of these two communities, video game players and crypto-currency users, is relatively small for now, features of gambling patterns common between these two gambling systems are possibly features common among all online gamblers. Not only do we consider different gambling systems, but we also discuss different types of gambling games. In this paper, we discuss four types of solely probability-based gambling games (Roulette, Crash, Satoshi Dice and Jackpot), whose outcomes in theory will not benefit from the gamblers’ skill or experience when the in-game random number generators are well designed. In general, there are two frameworks of betting in gambling: fixed-odds betting, where the odds is fixed and known before players wager in one round; and parimutuel betting, where the odds can still change after players place the bets until all players finish wagering. In fixed-odds betting, usually players bet against the house/website, and there is no direct interaction among players; and in parimutuel betting, usually players bet against each other. The four types of games we discuss in this paper will cover both betting frameworks (see the Methods section). When a player attends one round in any of those games, there are only two possible outcomes: either win or lose. When losing, the player will lose the wager they placed during that round; whereas when winning, the prize winner receives equals their original wager multiplied by a coefficient. This coefficient is generally larger than 1, and in gambling terminology, it is called odds in decimal format 15,16 . Here we will simply refer to it as odds. Note that the definition of odds in gambling is different than the definition of odds in statistics, and in this paper we follow the former one. When a player attends one round, their chance of winning is usually close to, but less than the inverse of the odds. The difference is caused by the players’ statistical disadvantage in winning compared to the house due to the design of the game rules. In addition, the website usually charges the winner with a site cut (commission fee), which is a fixed percentage of the prize. We further define the payoff , o p , to be the net change of one player’s wealth after they attend one round. Although the four types of games are based on different rules, the payoffs all follow the same expression. where \(b > 0\) is the wager the player places, \(m > 1\) is the odds, \(1 > \eta \ge 0\) corresponds to the site cut, and f m is a non-negative value based on the odds representing the players’ statistical disadvantage in winning, as mentioned earlier. At least either \(\eta \) or f m are non-zero. From Eq. (1), we can obtain the expected payoff of attending one round. which is always negative since either \(\eta \) or f m are non-zero. In gambling terminology, \(\xi \) is called the house edge, from which the websites make profits. The house edge represents the proportion the website will benefit on average when players wager. In the four types of games we discuss, the house edge \(\xi \) ranges from 1% to 8%. If there is no house edge \(\xi =0\) , that means it is a fair game. In a fair game or when we ignore the house edge, the expected payoff would be 0. In the Results section, we begin with an analysis of wager distribution and log-ratios between successive wagers, which helps us to understand the gamblers’ wagering strategy. We then focus on an analysis of risk attitude by studying the distribution of the odds players choose to wager with. We conclude by extending our discussion to the analysis of net incomes of gamblers viewed as random walks. This allows us to gain insights into the gamblers’ behaviors by computing quantities like the ensemble/time-averaged mean-squared displacement, the first-passage time distribution, ergodicity breaking parameter, and Gaussianity. Detailed information about the games and datasets discussed in this paper can be found in the Methods section. Results, super sic bo कैसीनो लाइव गेम्स. Wager distribution.
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