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Proverbs for Gambling: Do They Exist?

Published

1 year ago

February 10, 2023

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.

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Navigating Bitcoin’s Impact: SOFTSWISS’ iGaming Industry Overview

Published

2 days ago

May 17, 2024

George Miller

navigating-bitcoin’s-impact:-softswiss’-igaming-industry-overview

Reading Time: 4 minutes

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.

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Should iGaming Be Worried About 2024 Bitcoin Halving?

Published

3 weeks ago

April 25, 2024

George Miller

should-igaming-be-worried-about-2024-bitcoin-halving?

Reading Time: 2 minutes

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.

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Time to Invest in Crypto? SOFTSWISS 2023 iGaming Market Overview

Published

3 months ago

February 29, 2024

Zoltan Tundik

time-to-invest-in-crypto?-softswiss-2023-igaming-market-overview

Reading Time: 4 minutes

In 2023, crypto bets expanded by more than 20%, as reported by SOFTSWISS. The leading technology company, with over 15 years of expertise in iGaming and number one in crypto-optimised software, shares its analysis of the dynamic crypto landscape.

According to industry research, the global iGaming market is projected to double by 2030 at a compound annual growth rate of 11.7%. Revenues are expected to exceed 140 billion euro, with a significant share attributed to crypto gambling.

SOFTSWISS, as the innovator in crypto iGaming software development, regularly conducts research to track the dynamics of crypto within the iGaming market. Using extrapolation, comparative and correlative analysis, experts analyse the data gathered from over 600 crypto-friendly brands powered by the company.

iGaming Market Overview

Based on SOFTSWISS data, the iGaming market had a stable expansion in 2023. In absolute terms in euro, the Total Bet Sum grew by 38.2% year-on-year. At the same time, the Total Bet Count displayed an even stronger increase, surpassing 51.2%.

The average bet is slightly decreasing for several reasons. One significant factor is the broader reach of online gaming, fueled by advanced technology and increased internet availability. This trend is more evident in emerging markets like LatAm and Africa, where bets are usually smaller. Additionally, the increasing number of players under 30 with budget constraints adds to the decline in the average bet size.

State of Crypto

The in-depth quarterly analysis, initiated at the beginning of 2022, reveals that fiat bets are undergoing more substantial growth compared to crypto bets. In Q4’23, the Crypto Bet Sum saw an 8.2% rise in absolute terms, while the Fiat Bet Sum surged by 16.4% compared to Q3’23. At the end of 2023, the crypto share in the Total Bets Sum (27.5%) decreased by 3.9 p.p.

The comparative analysis of the 2023 Crypto Bet Sum against the previous year shows 21.1% growth. Simultaneously, the Crypto Bet Count increased by 50.5% year-on-year. The growing number of bets indicates rising interest in crypto gaming, but the greater availability of digital currencies may lead to slightly more economical bets.

“The advantages of employing digital currencies, such as swift transactions and anonymity, are key drivers for many players. Given these dynamics, the market demands expanding iGaming projects’ opportunities for crypto players. The in-game currency conversion, for example, allows operators to engage players with cryptocurrency assets in games initially designed for fiat transactions. The projects that embrace such possibilities continue gaining more advantageous market positions,” shares Vitali Matsukevich, Chief Operating Officer at SOFTSWISS.

Crypto Bet Stabilisation

The average fiat bet remained steady at around 0.82 euro throughout the previous year. Despite fluctuations in the average crypto bet during 2023, ranging from 1.59 to 1.88 euro, the changes appear modest compared to the twofold drop observed in the average crypto bet during Q4’22, which reached 1.56 euros. This indicates a certain level of stabilisation in the average crypto bet throughout 2023.

Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, comments: “The dynamics of the average crypto bet align with crypto market fluctuations. When digital currency values stabilised in H2 2022, the average crypto bet also levelled out. Another thing is that the average crypto bet is almost two times higher than the average fiat bet, which testifies that digital currencies are potentially used by players with higher incomes. Operators should consider this to increase project profitability.”

Cryptocurrencies Rating

The Top Five most operated digital coins in iGaming landscape have remained stable during the last two years.

In 2023, the cryptocurrency structure looks as follows:

Bitcoin – 73.3%
Ethereum – 9.9%
Litecoin – 6.6%
Tether – 4.6%
Dogecoin – 3.1%

In Q4 2023, Bitcoin experienced a slight decline by a 5.7 p.p. compared to Q3 2023. Conversely, Ethereum and Litecoin showed growth of 4.7 p.p. and 2.2 p.p., respectively, during the same period.

Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, summarises: “The digital currencies market is rapidly expanding, with estimates showing over 50% growth in capitalisation in 2023. Despite the risks caused by the high volatility of crypto and its dependence on various factors, using it can bring extra profits for operators. The iGaming industry is promising for investments due to growth in both fiat and crypto markets, but success depends on trustworthy and experienced partners.”

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.