Although it is difficult to see the overlap, quite a few things can transfer from cryptocurrency investing and trading to competitive (or casual) gaming. More specifically, both practices provide respective users with a set of distinct and valuable skills in the realm of analytical thinking and risk control. As such, it should come as no surprise that if you are great at navigating crypto markets, those skills would translate well into the gaming and iGaming world.
Blockchain to Bet: Analytical Prowess in iGaming
One crucial skill for crypto investors is analytical thinking, which is needed when making investment decisions. This extends beyond looking at numbers; instead, investors are analysing critical information by dissecting market data and understanding charts to identify trends. Even more, investors need to be able to process news about market volatility quickly to predict potential price movements and be ahead of the curve. When looking at iGaming (or gambling, in general), this skill would be valuable as punters would need to understand the house edge, betting odds, and RNGs (Random Number Generators)/algorithms. Additionally, punters need to analyse this vital information (such as probability and stake management) to drive decision-making.
Other factors play a role, including bankroll management and the ability to adapt strategies and approaches to varying outcomes on a whim. For example, Swedish players who want more freedom when it comes to bonuses, payment methods, or playing without restrictions often turn to offshore casinos. Another option is using a site without a Swedish license. As such, casinos without license in Sweden are foreign casinos operating outside of the European gambling market. Playing at foreign online casinos means it’s more important for bettors to have developed analytical skills, as house edges and odds usually differ from country to country. Other game-based factors also fluctuate depending on the location (e.g., game mechanics), so being able to predict outcomes based on such change is a must-have.
Mastering Data and Strategy: The Analytical Edge
Crypto investors need skills that extend beyond analytical thinking, but are still crucial to the rest of their skills. A good example of this would be how analytical thinking is a critical part of strategising because, let’s be honest, anyone can develop a strategy. However, for that strategy to be a good one that actually works, it would require much analysis of specific data related to the field in question. Investors need to understand tokenomics by reading through the relevant whitepapers to know how crypto strategies are created. Studying project roadmaps and team backgrounds alongside spotting early investment (or even arbitrage) opportunities is another element of this practice.
Of course, you must wonder how this translates to gaming, right? Well, in RPGs and MMORPGs (or any strategy-dependent title), a series of factors go into building a winning plan. For one, you need to analyse your enemies and look at what their build orders are, and what their attack approach is, so that you can predict their next move. Reading your opponent’s tells would stem from this skill, and in turn, you can plan efficient progression paths. Besides your opponent’s activities, this can help you build your own strategies regarding resource management, character builds, understanding game mechanics, counter-picks, and recognising patterns.
Mitigating Risk: From Portfolio to Playfield
Another vital part of crypto trading is spotting FUD (Fear, Uncertainty, Doubt), legitimate concerns, and potential issues that may arise. Dealing with crypto risk management means being able to set stop-losses and take profits ahead of time. Investors need to ensure that there is relevant portfolio diversification across their differing assets, which is why understanding volatility is so important. Additionally, predicting potential risks is also great for managing exposure, which can be done through prior research (DYOR – Do Your Own Research). Overall, the goal of this is to preserve capital, ensure decisions are not made based on emotion, and ensure that any risk being taken is calculated.
Many gamers are familiar with this, as numerous games require you to conduct relevant research before making a certain decision. For example, you may be playing a turn-based game and have to choose between a high-risk move that could cost you the round or a safer alternative. To make this decision, you would need to understand game mechanics, the potential risk this play might hold, and whether the reward is worth it. This can extend into your resource management – are you currently overcommitting your in-game items? Should you engage, or just give up and retreat?
The Mind Game: Emotional Resilience and Patience
Emotional discipline is very crucial in crypto investing, and the same can be said when it comes to playing a very intense game. Market downturns may have investors feeling the heat, which could lead them to make a bad decision (e.g., selling their assets to avoid loss). However, understanding market volatility means knowing that downturns are entirely normal and usually do not negatively impact their assets. Similarly, understanding mechanics is crucial in gaming, and Call of Duty: Mobile’s ranking system is a great example. Some might rage quit a game due to the season reset that decreases a player’s rank after a couple of months’ worth of grinding. The same is true when it comes to farming a rare in-game item or suffering a huge loss (especially in iGaming), highlighting the importance of maintaining composure. Patience and learning from your mistakes are beneficial in both the crypto and gaming spheres.
Conclusion
Overall, these are just some of the most crucial overlapping skills between crypto investing and gaming, but several other abilities translate well. More importantly, these are not niche skills that can only be used in these two sectors but can also be used for career advancement, studies, and even learning new, complex systems.
