7 Ways Big Data and AI Will Change Online Gambling
As online casino websites increase in popularity, so too does the amount of technology needed to keep the industry running smoothly.
Two of the main technologies predicted to infiltrate said industry are artificial intelligence and big data, with some pioneering companies already beginning to put them to use.
With that being said, it’s still too early to see what changes the two pieces of technology will bring to us in the next decade, but predictions are already suggesting positive results.
Here are just 7 ways that big data and artificial intelligence could potentially change the industry for good.
Creates Better Computer Competition
As it currently stands, stories of computers beating humans are extremely publicized, especially when it comes to complex games.
With the introduction of artificial intelligence and increased use of big data in the gambling industry, however, this could be a thing of the past.
The theory is that, through strategic reasoning and machine learning, computers can learn to play strategically and increase their winning chances.
This is primarily occurring with poker, and although nobody plays online poker for money against the computer, it sets a president for other online casino table games.
Enables Casinos To Implement Realistic Player Odds
One ongoing issue for the gambling industry is creating accurate odds for the games they provide.
While this has admittedly always been more of an issue with land based casinos, it’s something that continues to trouble online casinos.
For those updated with the latest technologies, however, this may no longer be the case, as artificial intelligence and big data combined allows casino operators to give players more realistic odds.
They do this by analyzing scoring patterns in a strategy that will benefit players as much as the casino themselves, allowing them to receive real-time and updated information about players and tournaments.
With this information, players are then better equipped to make decisions about their chances of winning at a specific time.
Security has always been a major concern for online casino websites. This is largely because, unlike land based casinos, online casino websites don’t have a version of CCTV to monitor those using their casino.
This leaves an open blind spot for players to exploit and use to their advantage. Many players have done this in the past by using rigged AI bots to give them a better advantage over the house, but the chances to do this are reducing.
This is because many online casino websites are now investing in their own AI bots to counteract the negative ambitions of certain players.
By using this software, it will be able to detect those that are cheating the system and quickly block them from the website, allowing normal players to continue undisturbed.
Enables Better Customer Service
One of the biggest complaints from online casino customers is that the representatives often aren’t human—and it’s obvious that this is the case.
With the increased use of artificial intelligence combined with big data, however, this is changing, to be replaced with bots who can provide a more personalized responses to customers’ questions.
This process occurs due to predictive analytics, which Gamblers Daily Digest explains works by tracking the history of a player, allowing the customer service bot to make predictions about the player.
With this information, they can then find the most effective ways of dealing with them based on their past patterns of behavior on the site.
Enables Reward Schemes
Rewards schemes are a crucial part of any online casino website’s business plan. Not only do they tell the customers that bring in the most profit that the business values them, but it also encourages those who haven’t reached that level to spend more in order to get there.
Big data is a big part of these reward schemes as it helps to identify the necessary information to decide who gets what in terms of rewards.
Caesars’ Resorts were one of the first to use Big Data for this purpose, with Forbes reporting that they were able to build this into a several billion dollar venture in less than two decades.
Now, with the increased use of artificial intelligence to provide even more accurate results, online casino companies in particular are taking over and replicating the resorts results with their own companies.
Furthers Marketing Developments
According to The Guardian, artificial intelligence is transforming the gambling industry by predicting consumer habits in a way that allows a personalized experience for every user.
It does this by analyzing their current betting habits, using the information to adjust the way they market to the player in the future.
Also involved in this process is big data, which is used to collect the data used to create predictions by artificial intelligence.
While this sounds technical, WeeklySlotNews reports that it’s simply adapted from the way marketing in land based casinos worked.
Instead of analyzing player reactions through facial expressions and nonverbal cues, big data and artificial intelligence will provide information on how customers interact and respond to online games.
Prevents Problem Gambling
Although gambling is considered safe for most individuals, psychologists are continuing to research those at risk of developing a gambling addiction.
They have identified many risk factors and warning signs which many online gambling websites are now able to look out for with the help of artificial intelligence and big data.
By using this technology to predict movements and monitor behaviour patterns, those who may struggle will be stopped in their tracks before an addiction is able to develop.
Lucian Marinescu, partner at OnlineCasinoGems, explains that this is generally successful. “By collecting information about how much time players spend playing and how much money they deposit and when, casinos can intervene early, before it becomes an actual problem.”
In theory, this cuts down on the number of people facing significant financial consequences as a result of their inability to stop gambling.
As you can see, artificial intelligence combined with big data is predicted to have a positive future in the gambling industry.
It’s claimed to be able to do everything, from stopping problem gamblers in their tracks to help predict odds more accurately and in real-time.
Although it is too easy to say anything for definite, there’s also promise that this technology will stamp out the substandard customer service many online casino websites provide their customers with today.
Whatever the future has to hold, it’s clear to see that the two technologies aren’t going anywhere anytime soon.