AI and iGaming – the final piece of the puzzle
Highlighting innovation and new technology impacts, BtoBet CEO, Kostandina Zafirovska shares her view on the AI influence in the iGaming industry.
Why is Artificial intelligence important for iGaming
AI – Artificial Intelligence is without a doubt a fundamental tool in the iGaming industry. It is a game changer, enhancing the operator’s ability to make the absolutely best decisions when it comes to acquisition, retention and player management. The complex algorithms of the AI software in the BtoBet platforms are able to simultaneously monitor the player behavior, collecting valuable information and suggesting suitable offers to every single player. An omnichannel platform and a sportsbook software, based on AI is the key for operators to deliver the right product at the ideal time for every single customer by studying their past behavior and aggregating players with similar gaming habits. This unique ability to anticipate the player’s desires triggers the players interest extending users’ life cycle increasing wagering activity having a positive effect on both the players and the operators.
The impact of AI on Risk Management systems
Besides player acquisition, retention and management, AI plays a key role in the trading operations as it automatically identifies potential fraud taking the necessary action whilst also advising the operator. It is extremely important to guarantee a totally secure management process.
BtoBet has an extremely advanced anti-fraud system able to independently analyse the player’s activity automatically identifying any possible fraudulent behaviour. Points are assigned according to the type of fraudulent actions and this gives the licensee the possibility to define different measures according to the player’s behaviour.
With specific BtoBet friendly tools, operators can keep track of the transaction data, and manage it by reviewing analytics via the risk and fraud dashboards. The most important benefits of implementing advanced tools for fraud management are the real-time visibility of fraud vulnerability, the ability to immediately respond to fraud with timely and relevant actions and to prevent monetary loss due to fraud.
AI as a technical lever in the marketing tools for player retention and player acquisition
The Artificial Intelligence, combined with the Recommendation Engine, completely changes the marketing for online gaming. It allows operators to study and monitor any single player, to select segments of players by similarities and preferences and enables them to elaborate automatic offers that perfectly meet the interest of every user.
In fact, the AI provides a huge amount of key information such as the players’ level of happiness, the types of players (e.g. if they are VIP), and what type of segment they belong to. Licensees can independently access all this data by using a single and customisable screen to easily build their marketing strategies, diversify the actions of different types of users and to run intelligent targeted marketing campaigns.
The future of AI in gambling
At BtoBet we are extremely proud of our hybrid Recommendation Engine, which can provide more accurate recommendations than pure approaches. It is based on both content and collaborative methods and it is extremely useful to overcome some of the common problems in recommendation systems such as cold start and the sparsity issues. However, we are always moving forward, looking for new ways to improve our system.
The future of AI is improving the ability to deliver the right suggestions of the desired games or bets to players which are becoming ever more demanding and tech-savvy.
The gamblers are increasingly moving from retail to online and mobile, pushing operators – also retailers – to adopt automatic cross selling strategies, able to deliver the best betting/gaming experience possible, through a totally personalised front-end, to any single player. Nowdays, we can’t understimate the importance of personalisation through technology, especially considering that lots of gamblers are Millennials who love to feel special and to receive unique and dedicated offers.