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Big Data Changing the Game for The Online Gambling Industry
It’s amazing to think how far the online casino industry has come since it first began. What started with simplistic games and a small following is now a multi-billion dollar industry.
One of the main reasons the industry has managed to reach new levels is due to the use of technology.
The Influence of Artificial Intelligence on Online Gambling
With the industry constantly evolving and adapting it comes as no surprise that the trend of artificial intelligence (AI) has largely impacted the online gambling ecosystem.
Gambling in itself has had an impressive history as it evolved from simplistic games of chance played in countries like China to modern online slots, roulette, baccarat and other games.
It can be said that the online casino industry has received a massive boost because of people worldwide sharing their daily activities online. Nowadays data is collected on everything we do from the websites we visit the purchases we make and our social media updates.
For the online casino industry, the collection of data and analysis thereof is highly important. Then again it can be said that this is not just important in the gambling industry but in all other industries as well.
In order to optimise the market and its performance, it’s crucial for the gambling industry to keep collecting data and improve and transform based on it. According to Statista in 2015 the online gambling industry had a volume of $37.91 billion which would increase to a massive $59.79 billion by 2020.
Data Collection and The Importance Thereof
The main reason data collection and analysis is so important to the industry is because it helps with growth. The online casino industry is more likely to succeed and grow if it keeps tabs on what clients want.
Data collection and analysis also helps casino operators and software developers learn more about their users to ensure the products they provide meet their needs. And in the past few years, Big Data has been on the rise helping many industries and businesses to grow.
It’s a fact that computers are more likely to provide accurate data than any human being. And more so using AI software is the perfect solution to help in analysing consumer habits and predicting what products might be of interest in the future.
Apart from this AI software has many other benefits for the gambling industry including creating its odds. By using artificial intelligence operators are able to provide their players with more realistic odds.
On the other hand, Artificial Intelligence can also be used by players to outsmart the system and take home bigger wins especially in card games such as poker. Much like any other helpful resource AI has its pros and its cons with the pros outweighing the cons by far.
Moving Forward Responsibly
Another amazing aspect of AI is that it can improve the issue regarding gambling addiction. For instance, by utilising the BetBuddy software players in danger of developing an addiction can be identified and helped earlier. The AI software can help prevent negative consequences by identifying them before a problem becomes too serious.
Overall artificial intelligence has the potential to take the gambling industry to even bigger heights. In fact, it has already proven to be a source that influences and shapes the way developers look at gaming innovation. By using AI the correct way operators and developers have the means and tools to entertain no just present users but future generations too.
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