Right now, the relationship of artificial intelligence with gambling is in the realm of risk assessment. An league of slots casino can use AI to determine if the person/gambler has a risk of developing a gambling problem. Artificial intelligence does not work in iGaming as it does in casual gaming. Moreover, It will never work in the same capacity. Any gambling game must have results based on chance or randomness.
AI and Gambling Problems
Artificial Intelligence can analyze the deposit, wins, and losses of a certain gambling account. From here, it can determine if the gamer has developed a gambling problem. There is no consensus or known standard on how casinos can do this. Besides, any person who spends a fortune on online entertainment and loses much of this money is developing a problem with gambling.
If a casino determines that the player’s gambling behavior is worrisome, the casino management is in a position to put the gambler’s account on hold. There is a good chance that the casino would put a limit on how much the gamer can deposit. It is also likely that the gamer can only play at specific intervals, like twice a week instead of every day.
The casino management also has a responsibility to assist this player. There are associations where the casino can report the gambler’s behavior. From here, authorities will decide what to do next.
AI and Better Betting Edge
AI is a fast robot capable of analyzing big data. Because of this, players can use it to analyze the likelihood of a bet winning. In gambling, Artificial intelligence has much more use in sports betting than in casino games. However, it is not farfetched to think that players one day will have AI telling them what to do in a game.
For example, a gambler might use AI to decide what to do in blackjack. The simulation of human intelligence, equipped with robust input and statistical programming, can tell the player the best course of action to reduce the risks of losing.
Here are some other things that AI can do:
- Analyze players’ behavior and help bookmakers to adjust odds.
- Tell players the likelihood of horses winning and losing based on data input.
- Assist players in scouring the internet for gambling odds.
To some degree, not everyone is happy. Some say that bookmakers may use AI in the future to manipulate gambling results or betting behavior. This manipulation, of course, is suspected to be favorable to the bookmakers themselves.
AI and Fraud Prevention
Today, AI is helping financial institutions detect fraudulent transactions. It is used to work with datasets and identify specific patterns.
In the casino industry, companies can use AI to target money laundering and fraud. It will determine specific behavioral patterns. From here, it can flag the account and prevent it from making more transactions.
The beauty of this is that the AI can detect patterns in real time. Because of its speed, casinos can immediately put an account on hold and report suspicious activity to the authorities. With Artificial intelligence, there is no need to rely on human beings to analyze transaction patterns. The robot or program will just raise the flag and automatically block a user from using the service.
AI and Marketing
AI can help casinos in marketing. We know that companies rely heavily on what AI does on social media. It is the decision maker as to what kinds of ads the user sees on his feed. In gambling, casinos can use the same principle. If the Artificial intelligence observes that the player loves slot machines with progressive jackpots, it will offer more similar games to the player.
If not, the AI can send automatic emails or notifications to the player. These emails can contain new promotions for progressive slots or any game the player may be interested in playing.
Since the AI has analyzed the player’s behavior in the past, it is not likely to offer a game that the player does not like. In this regard, the casino can create a targeted marketing approach not only to their existing players but to potential players too. Soon enough, if there ever is social media for gambling, casinos can use AI to determine what ads to show to a potential player.
Artificial intelligence can help many companies, not just casinos, to improve customer experience and reduce fraud. However, AI can never have involvement in the outcome of a game.
With Artificial intelligence, casinos can only analyze big data to prevent fraud, manage transactions, identify a gamer’s habits, etc. All in all, AI is good for the casino industry in terms of marketing and problem identification. In computer arcades or role-playing games, it is normal for AI to give a gamer hard time, but it cannot happen in an online casino.