Gambling or betting has always been a part of all societies throughout the world. The history of gambling goes back to thousands of years with the earliest evidence being discovered in China. Gambling has grown from being a pastime to a billion-dollar industry. The main reason for this was the establishment of gambling houses. When the concept of gambling spread out of Europe more and more people started to gamble. Soon casinos emerged which turned gambling into a billion-dollar phenomenon.
Even this was not enough for the large casino companies as they wanted to reach a wider audience. They knew that they couldn’t do it through on-ground casino promotion. So they started to venture into online gaming which was the best way to reach the audience in all parts of the world. As revolutionary as the idea was it came with its own set of challenges. The gambling industry has realized it has to keep up with technology in order to sustain in the long run. So the online gambling sites started incorporating every technology that has benefitted it. This gamble played out really well as online gambling became a multi-billion dollar industry today. The latest technology that caught the eye of international casino companies is AI. There are many reasons for believing that AI is going to have a significant impact on the global gambling industry.
Before knowing how AI is going to impact the gambling industry let’s understand what AI is and what it can do.
What is AI?
AI is short for artificial intelligence. Artificial intelligence is a highly sophisticated piece of software that works as a system that can solve problems on its own. Generally, any software is able to perform a task that it is programmed to do. This is because the software can identify what the exact solution is when a given problem satisfies a set of parameters. But artificial intelligence is not programmed that way. It is designed in such a way that it can analyze the given data and come up with its own solutions for a given problem. Here artificial intelligence is not provided with any additional information it has to keep trying and keep learning until it finds a solution on its own. This might slow down things a little in the beginning but once it gets used to the particular environment it starts to give results in unimaginable rates.
Now let’s see how it impacts online gambling
AI provides better customer service
Customer service is a very important aspect of any business as it brings repeated customers. It is even more beneficial for the overall business as they would spread the word to others. The customer service reflects the reputation of a company. Online gambling sites are trying their level best to provide good service to their customers. But as you know there can be some failures during this process which can make them lose potential customers. But AI can solve all these problems. AI can not only understand a user’s problem but can also provide solutions in real-time. In fact AI can come up with better solutions at a faster pace without any human intervention. This will help the gambling companies to stop stressing about providing good customer service. Check out online gambling sites like Slots empire, El Royale and Bobcasino.com which offers excellent gaming experience and customer service.
AI provides a better gambling experience
Everyone assumes that the odds are always in favor of gambling sites when they are playing. They have all the right reasons to think so. This is mainly because of many online gambling sites having algorithms that place the odds that are in favor of the company. Which mainly results in the customers losing more times than usual. Even if there are no such things the customer may stop using the site if they lose too many times thinking the site is unfair. But if you use artificial intelligence then no one would have a reason to complain about the odds. AI helps in creating odds that are more realistic and winnable. Even the customer will have more confidence when they know for a fact that they are not being tricked.
Many people have a negative perception when it comes to gambling. They feel it is a taboo that no one should participate in. The reason for this is the people who they have seen getting addicted to gambling. There are many people who get addicted to it, lose everything but still gamble at every chance they get. AI can stop this in online gambling sites ensuring responsible gambling. The AI can understand when a user is getting addicted. It can do it by looking at the amount of time the users are spending on the online gambling site. Once they reach a certain threshold the AI can stop the services to those customers to stop them from getting addicted. People may think it is a loss for the gambling site but it actually benefits them in the long term. Because people would go to a site more if they know that it is not trying to rob all of their money.
Prevention of bots from entering the games
Technology is a double edged sword. Most of the technology is invented to benefit humans but it can also be used against them. Many scamsters are using technology to beat online gambling sites to win huge amounts of money. There have been several cases where bots have entered a game pretending to be humans. These bots are also a form of AI that is able to out smart the online gambling sites and win a bet every time. This results in a loss for both the company and its customers. This is where AI can work very efficiently. It can detect any type of suspicious activity among users. Not only that but it can also restrict them from entering again.
Helps in the collection of useful data and generation of smart data
Data collection has become an extremely important part of all industries to increase their customer satisfaction rate. Each and every information that a user puts online is collected and analyzed to create a better experience for them. Every information like purchases, online queries, social media postings is tracked to find a user’s interests. But during this process, the companies tend to collect large amounts of information that is of no use for them. This will only result in wastage of time and money. But AI would stop all these as it would only collect the information which it can use. It will avoid collecting unnecessary information that cannot be used to generate useful data. Once it collects that data it will generate results that are user-specific. That means by analyzing a user’s online actions a gambling site would provide a handful of games on the homepage that the user might play rather than showing hundreds of games.
The online gambling industry has come a long way since it started. It has been capable of achieving incredible amounts of success because it was able to quickly adapt to all kinds of latest technologies that emerged throughout the year. AI is the latest technology that is being incorporated in all industries including gambling. AI would solve a lot of problems that the gambling industry faces. It can help provide great gambling experience along with impeccable customer service. AI can stop fraudulent activities by preventing bots from entering online gambling sites. It makes sure to collect useful data to ensure that a customer has a good user experience. AI is the next big thing that every industry is trying to use to improve their businesses. The gambling industry is also one of them as the advantages are far greater compared to the disadvantages.