AI's impact on the online gambling sector: a winning bet

Over the last two decades, the online gambling sector has gone through drastic changes. The advancement of technology helped propel the expansion of smartphone devices and with it came the convenience of accessing gambling activities such as slots, poker and sports betting, among others, at the touch of a screen. While smartphones helped expand iGaming exponentially, the research and advancement in areas such as artificial intelligence (AI) continue.

Nowadays AI-powered solutions are used in almost any industry and they provide vital assistance by replacing manual labor and increasing productivity. The online gambling industry quickly identified the benefits of leveraging AI solutions and took advantage of them. As a result, many businesses already use AI, powering their operations in different areas. But what exactly can AI help with when it comes to online gambling?

AI-powered solutions boost personalization, fair play and analytics

One major benefit of AI is its use for personalization options. Operators that leverage such solutions can boost user experience by recommending content that is tailored to each player's preference. Thanks to AI-powered personalization options, iGaming operators can monitor players' activities and offer content that is relevant for each individual user. At the same time, such solutions can help with bonus distribution. As a result, AI-powered personalization options can improve customer engagement and satisfaction.

On the other hand, AI can also propel security and fair play for iGaming operators. Leveraging AI algorithms, online gambling companies can identify fraudulent or suspicious services. Moreover, those solutions can strengthen fair play by identifying attempts for cheating or other malicious threats. This, in turn, can boost the iGaming operators' trustworthiness which is a major factor in the competitive online gambling sector.

Thanks to AI-powered analytics, iGaming operators can improve and optimize their operations and platforms. iGaming operators can use such solutions to boost customer acquisition, game performance and deliver data-driven insights. AI algorithms can be used for processing a wide range of data, including betting patterns, player behavior, as well as game performance. Using such data, operators can benefit from making informed decisions and identifying areas that need improvement. Overall, AI-powered analytics can help online gambling operators improve the experiences for their customers while implementing efficiencies that increase profitability and allow them to remain competitive.

iGaming operators combat threats, strengthen responsible gambling with AI

There are many online gambling operators that already benefit from AI solutions that strengthen their responsible gambling efforts. The use of AI in this specific vertical helps iGaming operators proactively monitor the actions of their customers and identify at-risk or problem gambling patterns. Such can include substantial losses, sudden increase in play sessions and increase in depositing, among a long list of actions that can trigger intervention.

Online gambling operators that use AI to boost their responsible gambling efforts can set thresholds that once reached can result in intervention. Users who are identified for risky behavior can be subject to pop-up messages about the use of responsible gambling tools, as well as voluntary or involuntary limits and even self-exclusion. All those efforts can ultimately protect more people from excessive gambling while ensuring that iGaming operators comply with established regulations for player protection in different markets across the globe.

Another key benefit of AI is related to risk management and fraud prevention. Thanks to AI algorithms, iGaming operators can easily identify attempts for fraud as well as other risks in real time. Analysis backed by AI and machine learning helps flag fraud attempts like payment inconsistencies, suspicious betting activities or patterns in both historical data and real-time. Using AI, iGaming operators can successfully prevent attempts for financial crimes like money laundering or identify users with multiple accounts based on partial personal or financial data. Similarly, financial crimes such as identity or payment information theft can also be identified and actioned upon.

Strategically, such AI solutions can improve risk management for online gambling operators. Flagging such transactions can be quite challenging via manual labor which is why AI excels in areas that require processing large quantities of data. As a result, iGaming operators can reduce risks that are generally associated with their business and in turn reduce potential losses. Ultimately, the combination of those processes can help operators continue growing sustainably while at the same time complying with laws against money laundering and other financial crimes.

Growth of AI to propel the iGaming sector

Undoubtedly, there are many more areas where iGaming operators can implement AI solutions to power their day-to-day operations and propel their growth. Thanks to such innovative options gambling operators foster the development of a customer-centric, safer and more secure gambling sector. Above all, some of the most important benefits of AI solutions include increased player protection, reducing risks while raising security and at the same time maximizing profits and growing sustainably. With the growth of technology, AI solutions are expected to evolve further, delivering even more strategic benefits not only for gambling operators but the whole online vertical.

Image credit: Pixabay.com