Presentation at the University of Hohenheim Gambling – Symposium on the intersection of cryptocurrencies and gambling

On 15th March 2023, our co-founder Professor Dr. Ingo Fiedler gave a presentation on the overlap of cryptocurrencies and gambling at the 20th gambling symposium of the Gambling Research Center at University of Hohenheim. In addition to the classic gambling for cryptocurrency (instead of fiat currency), he addressed the two topics of crypto day trading as a gambling surrogate as well as the overlap of crypto users and gamblers.

A key aspect of the presentation was the discussion of whether cryptocurrencies are a curse or a blessing for the gambling industry. Based on previous research results, Prof. Dr. Fiedler put forward the following four theses:

  1. The acceptance of cryptocurrencies as a means of payment in online gambling is a competitive advantage and will become more widespread.
  2. It is beneficial for gambling operators, regulators and players to allow payments with cryptocurrencies.
  3. Gambling-like products compete with gambling for market share, (but are not regulated as gambling).
  4. The legal definition of gambling should be tiered and also cover the following gambling-like products:
  • (Crypto)-day trading with derivatives and leverage >20x,
  • Binary options,
  • Loot boxes,
  • Pay-to-Win Gaming.

We would like to thank the Gambling Research Center for organizing this year´s gambling symposium. The symposium provided a pleasant setting for an exciting and interesting exchange on the topic of gambling. We were very happy to have participated in this year´s symposium.

If you’re interested in learning more about the intersections of cryptocurrency and gambling, feel free to directly reach out to Fred Steinmetz.

Related articles:

The interrelations of cryptocurrency and gambling: Results from a representative survey

Ownership, uses and perceptions of cryptocurrency: Results from a population survey