Artificial Intelligence is firmly entrenched in the life of a modern man. A great interest in the development of AI remains in the gambling business among other areas of activity. With the rapidly changing world around us, as well as the even faster pace of development of this industry, many companies in this area are investing in the development of AI. Among the goals that interest them most strongly, there are several, which we will dwell on in more detail in the future.
Gambling industry: history and statistics
Gambling culture has been shaped over thousands of years, but the really big changes have been happening over the past 30 years, with the ubiquity of the internet and the ease of access to it. Along with this, the perception of the industry is also changing, which is moving from the stage of denial and definition of it as a threat to the stage of recognizing it as a form of leisure and an essential part of the entertainment industry. There were many unsafe sites, but with the help of CasinoLuck, featuring reviews on safe and secure online casinos, people can feel safe now.
According to statistics, approximately 26% of the world’s population regularly gamble, and more than half do it seldom – once a year. Of these, 17% do it online, and this figure is growing every year. In 2021, the online gambling industry was estimated at USD$57.5 Billion, while experts also predict an increase in this value.
Without going into too much detail, these statistics eloquently show that gambling, and in particular online gambling, is on the rise. The industry attracts investors from the most seemingly unexpected areas of business – the recent experiments of Amazon and Netflix to create their own products in the field of gambling caused a lot of discussions. The growth of the all-around popularity of the industry entails its active development, and AI helps all those interested in solving existing problems, as well as preventing the emergence of new ones.
More specifically, AI helps in solving the following issues:
1. Adaptation to user needs
The highest priority tasks of AI in gambling include the creation of the most personalized environment for the deep immersion of the player in the process. The first fruits of these efforts can be seen and, if desired, tested today. Artificial intelligence, in particular chatbots, helps online casino users by providing service support and solving problems that arise in the process. Virtual Reality adjusts to the preferences of the players and creates the effect of presence. As for marketing, AI selects and advises the user on the most optimal games and slot machines for him, based on a huge number of factors, including previous gaming preferences, geolocation, age, whether the casino has certain bonus systems, and so on. It all works the other way too: providers collect and analyze data from AI and create more and more innovative solutions for comfortable gaming.
2. Optimization of financial calculations
Artificial intelligence collects data on current financial trends and player habits, allowing online gambling companies to better manage their financial resources. Companies can invest more precisely in the most popular or developing areas of their activity, also based on an accurate budget forecast system. For players, this system will also offer more personalized gaming options based on their financial circumstances and needs.
3. Prevention of health problems
One of the main complaints about gambling is a high degree of addiction for susceptible people, which makes some countries prohibit or, like Australia, strictly regulate all processes related to gambling.
Fortunately, Australians can visit OnlineCasinoGo and find the most suitable casinos for them to play. To solve this problem with the help of AI, the Responsible Gambling system was created and is being developed. Being a form of entertainment, gambling relies on the development of a value-generating, player-friendly, and sustainable atmosphere. The AI analyzes the user’s anomalous activity, which can be expressed in the time spent in games, increased bets compared to the usual size, or, in principle, too large total spending compared to the typical user performance.
The development of this program also aims to contribute to the general legalization of gambling, since governments are also interested in the development of the gambling industry, for which it can become an additional source of income.
4. Betting options expansion
Despite the popularity of betting, many do not fully understand why betting options are so limited. And if the situation with sports betting in this regard is different for the better, bets on other events in the world around us have a very poor choice. Certain categories of bettors would like to bet on the winner of parliamentary elections or on events in the life of celebrities. AI helps to analyze the needs of such people, and betting companies create opportunities for betting on the most popular and in-demand of such events.
According to analysts, there among popular queries, are bets on future exchange rates (including cryptocurrencies), on words and expressions that will become a trend in social networks, as well as bets on the amounts that will be spent during an auction on one of the lots, or totally.
5. Advanced anti-fraud system
Gambling often becomes a source of attention for people who do statistics and make lists of probabilities for various events. In the field of online gambling, the user has greater autonomy and anonymity compared to visiting an offline casino. In search of easy money, many people create algorithms that use the current imperfection of casino security systems, ranging from banal sure bets to complex software that allows you to increase the chance of winning tenfold, for example when using a virtual slot machine.
AI allows stakeholders to track such attempts as quickly as possible and block offenders even before they collect enough information about the effectiveness of their methods, not to mention the withdrawal of money. Casual players also benefit from the use of AI for cybersecurity, as their personal data is well protected, and the prevention of unfair earnings in online casinos helps the industry grow and create more and more opportunities to play.
Artificial intelligence is one of the most promising developments in existence today. Its influence in the field of security, medicine, or education is already at a high level, and it continues to grow. For the gambling industry, AI also seems to be the perfect solution to many problems that have always seemed unsolvable for this industry. Surely, we will hear about new results of the interaction between gambling and AI sooner than you can imagine.