How the iGaming Industry is Using AI to Tackle Problem Gambling
The iGaming industry is always aiming to improve the user experience. When thinking about how online gambling could improve, we always think about the games first and what could be done to make the online casino and sports betting experience more exciting.
Payment methods are another aspect of online gambling that is often talked about in terms of development. However, one area of iGaming that could affect us all is problem gambling. Is there a way to tackle problem gambling and could artificial intelligence be the way forward?
What is Problem Gambling?
Problem gambling can lead to people gambling more money than they can afford to lose. This is the most common form of problem gambling because many of the factors that lead to problem gambling, conclude with the individual spending more on iGaming than they can afford.
Perhaps the person in question is feeling stressed and is gambling more than usual to try and forget something else that is happening in their life. This is just one example of why someone will develop an online gambling problem but how can AI help to tackle problem gambling? Any of the reputable sweeps casinos will have safer gambling measures in place, such as spending limits, but AI is taking things one step further.
AI vs Human Beings
AI can detect problem gambling patterns online before any human being. It would be extremely difficult for any popular online gambling site to monitor every single account because some of them will have thousands, if not millions of account holders.
It is not feasible for iGaming companies to hire the number of people required to follow individual accounts 24/7 to see if they are developing a gambling problem. It is not that we are incapable of identifying when an individual is developing a gambling problem, it is simply a case of numbers. To ensure no one slips through the net, each online gambling account holder would need to have a person assigned to them so a problem gambling pattern can be identified immediately.
AI is capable doing this automatically, without the need for a human being to be involved. AI can simulate human intelligence and produce results more efficiently than any human being. That means, AI can identify a gambling problem and automatically block or suspend an iGaming account before the problem intensifies.
AI Using Data
AI cannot identify the development of an online gambling problem without having access to data. This begins with the data collected from the online gambling account of the person in question.
That person may have set deposit limits, may always play at specific times of day, spend a specific amount of time each week iGaming, and spend roughly the same amount of money each time they gamble online. These are crucial pieces of information that AI needs in order to identify an online gambling problem. For example, should an individual usually spend $100 per week gambling and only gamble on the weekend, this is a pattern of data that AI can use when assessing the potential for a gambling problem. Should the individual start gambling during the week and spending $500, alarm bells will start ringing and AI will act immediately to ensure it is not going to develop into a problem.
AI will use every piece of information available to identify when a person could be at risk of developing a gambling problem. Some online gamblers have complained about having their accounts limited automatically because they bet more than usual as a one-time bet but, in this instance, iGaming accounts are usually restored quickly.
Loss chasing is one of the ways in which AI can identify problem gambling. If a player is repeatedly betting more money each time they lose a bet, they are chasing losses and that can lead to a gambling problem in the long term. AI can constantly monitor the betting practices of individual accounts and analyzing the huge amount of data is critical when trying to tackle problem gambling.
We are already seeing the impact AI has had in terms of spotting fraud in online gambling companies and its hoped that the technology can also help spot problem gamblers before things go too far.
A Personalized Experience
The use of AI in iGaming is not all about problem gambling and it can be used to provide a personalized online gambling experience.
AI can offer players games and sports betting markets based on user preferences. If a player regularly plays sport themed slots, AI can use that information to present the player with a new sport themed slot as soon as it lands on the website.
Online streaming platforms use similar technology when providing suggestions of what series or films to watch next. AI can keep users engaged by offering a personalized experience and it helps to make the player feel valued, as if they are receiving a VIP service from their online casino or sportsbook.
AI has many uses in the iGaming industry but for online gambling to move forward and become widely accepted, tackling problem gambling is the main goal.