The Influence of AI on the World of iGaming
It’s no news that artificial intelligence (AI) is causing waves of disruption through a variety of industries and sectors. It seems now, more and more businesses are trying to understand what AI is and how it can best be used and applied when it comes to data analysis.
It’s a fact, that online casinos, sport-betting businesses and the iGaming industry in general, are affected at large by the AI transformation. During the past few years, the iGaming industry has claimed a forefront in the implementation of Artificial Intelligence in the core of their business models.
The question remains, how AI could help the iGaming industry and the player?
Personalization through data acquisition and analytics
The iGaming industry has for some time now been analyzing the player’s behaviour. In recent years Artificial Intelligence has evolved as a tool that enables operators to make the best decisions when it comes to the management, acquisition and retention of the players.
The possibility to anticipate a player’s tendencies or desires by suggesting, through data compiled by the use of AI, guarantees that the player will eventually return to the same operators time and again, thus proving to be an essential tool in terms of player retention. Basing their decisions on such player profiling, the operators can ultimately drive a tailored marketing campaign, propose tailor-made offers, and focus more on the player experience.
Through sophisticated algorithms operators can track players’ behaviours, whilst at the same time filtering and and providing players with the most suitable suggestions in terms of game, and bets.
AI as the core tool for an optimal Omnichannel
The process of AI integration in the iGaming industry does not preclude its implementation also on the retail side of the business, with the cashier assisted bets system also enabling player data collection from the shops themselves.
Thus Artificial Intelligence is fundamental to place the player’s preferences at the core of the operators activities, be it retail or online, with operators presenting customised offers, and essentially a unique experience to their customers.
An omnichannel setup with Artificial Intelligence at the core of its operations also allows operators to generate additional revenues.
AI in the Prevention of Gambling Addiction
The gambling industry has been a source of controversy for many years. However recent years has seen the industry adopting Artificial Intelligence not only in respect of its commercial aspect, but also when it comes to problem gaming.
Coupled with providing better insights on odds, AI has risen as a main means to fight the issues around gambling addiction.
Complex algorithms have made it possible to analyse and identify critical factors common amongst gamblers who are at risk of addiction. The advent of this disruptive technology has permitted the community as a whole to be in a position to provide help before the addiction reaches a critical threshold.
Artificial Intelligence in Risk Management
In terms of risk management Artificial Intelligence is a crucial asset. It permits the system to automatically identify any potential fraudelent activity, take the necessary action, whilst also advising the operator. Its role is of the essence as it guarantees a totally secure management process.
Artificial Intelligence permits an anti-fraud system to independently analayse the player’s activity, and automatically identify any abnormalities in his behaviour that may be the result of deceptive activity. All this process is implemented in a fraud point system scenario, with the player dynamically segmented according to his behaviour, inheriting the limits set by his previous actions, whilst permitting the operator to define different measures to be applied accordingly to these varying behaviours.
Specific tools, can also permit operators to keep track of the transaction data and manage it by reviewing the analytics.
For deeper knowledge on the influence of AI on the online casino and sports betting industry, download our latest Industry report: AI the present and the future of iGaming