The events of 2020 accelerated the boom of the online casino sector and the overall gambling industry. Because of social distancing, land-based casinos had to be shut down, driving hardcore gamers to find suitable alternatives. A lot of the online population also couldn’t move freely, and they explored many new things from their homes.
Although many offline businesses were looking for bailouts for sustenance due to the decrease in revenue, online casinos continued to experience high-profit margins. Statisticians have predicted that the global gambling market will be worth $113 billion by 2025. Currently, the industry is valued at $80 billion, which means the sector is expected to grow at a compound rate of 12%.
It’s difficult to spot any other industry with this type of explosive growth rate. One technological innovation largely credited with the online casino boom is artificial intelligence.
Several top casinos listed on casinoutansvensklicens.one has established partnerships with various firms in the data sub-sector to improve the customer experience. Besides the blockchain, machine learning and artificial intelligence lead the charge on possibilities for online casinos. Casino gamers also benefit from the integration of AI into the casino sector. With the spread of casino websites and associated technologies, they’d get more personalized experiences. Here is the extent to which artificial intelligence influences the online casino industry.
Improved customer service
Casinos have always stood out from other industries regarding giving the best customer experience. If you’ve ever watched a casino movie or TV show, you’ll see how customers are given free drinks and even huge discounts on lodging at casino resorts. Because casinos are now on the internet doesn’t mean that they’ve reduced their level of customer care. Consumers who have a great experience using your services tend to become returning customers. Returning customers means you don’t have to spend as much money on promotions. Thus, this translates into a higher revenue level.
AI offers several advantages to online casinos by bettering their customer helpdesks. For one, automated chatbots use artificial intelligence to communicate with customers experiencing issues on the platform. Before machine learning and big data, only the biggest casino platforms could offer 24/7 customer service to users since the employee payroll would be larger. Today, online casinos can pay for chatbots with a few hundred dollars to tend to customers at all times of the day.
A more personal experience
Artificial intelligence gives casino gamers a more personal experience from the moment they create an account. By leveraging machine learning classification techniques like random forests and gradient boosting, the AI can predict what you’d like to explore on the platform. When a pattern has been discovered, AI software would be utilized to personalize the gamer’s experience. For instance, most emails you’d receive would be about your favorite games and events. You can also get recommendations for games that you’d probably like.
If you’re wondering how this could be possible, you can compare it to the recommended product feature that the Amazon online shop has used to great success. Similarly, all your promotional offers would be tailored to your gaming experience.
Eliminates fraud from gaming platforms
Not all casino gamers make credibility checks on the casinos they want to sign up on. Although some gamers are cautious, others want too fast forward to the gaming. AI serves to help these less cautious gamers. Computer programs that feed AI software can track the level of transactions that go on in online casinos. If there’s a change in pattern, the AI will investigate further to determine the cause of the increase or drop in the number of transactions. This way, customers would be able to determine the platforms that are likely using fraudulent techniques. AI can also spot unusual activity from the players and end gaming sessions. This way, those looking to beat the system would be discouraged from doing so.
Picking out gamblers with problems
There are AI protocols that can not only spot cheaters but single out gamers with a gambling problem. Online casinos can leverage AI to pick out unusually big or frequent financial transactions. Some gamblers tend to go out of control by making withdrawals from their finances to chase losses or make bigger wins. With automation, AI can limit the amount a player can spend in a particular period. Nevertheless, the amount would entirely depend on the casino platform.
Boosts the integrity of online casinos
One key reason why several casino websites are incorporated offshore is because of the way gambling is viewed. Casino operators know that gambling regulations and overreaching officials in the government might try to close down their businesses. This has led to a slight level of distrust from some of the online population towards casinos. However, since AI helps customers to pick out fraudulent platforms and casinos are looking out for gamers who might have a gambling problem, these people see casinos as reliable entities. This means that shortly, even if an online casino operates in legal grey areas, they might lose a large chunk of their customers.
Improved gameplay for players
Casino gaming is just like every other activity in the world. The more you engage in it, the better you become at it. AI serves customers by introducing their favorite games and the games with the players’ best success rates to their homepage. Jackpots can also get displayed based on their relevance. This way, casino gamers would have a higher probability of getting rewards. Players can also utilize machine learning techniques like lasso regression and classification techniques like decision trees to pick patterns from games. This way, they can better their winning percentages.
The events of 2020 have skyrocketed the casino industry as one of the best-performing sectors in recent times. One of the reasons for this revenue and popularity explosion is artificial intelligence and the use of big data. Artificial intelligence offers many benefits to users, such as preventing gamblers with problems from playing games, eliminating fraud from platforms, and enhancing customer service. Other advantages include improved gameplay for users and an increase in the trustworthiness of casino operators.