Ways in which Casinos are using AI to their advantage

analytics-insightThis post was originally published by Analytics Insight at Analytics Insight

AI

Most of us already know that casinos are masters at ensuring the chips are stacked firmly in their favor. However, it might come as more of a surprise to learn that many casinos are taking advantage of technological advances to ensure that unscrupulous individuals can’t eat into their profits.

Artificial Intelligence (AI) makes it a lot easier to predict outcomes and behavior, and online casinos have started using this to their significant advantage. AI helps casinos and betting websites manage their operations more efficiently, initiating fraud checks, clamping down on problem gamblers, and ensuring that they don’t fall prey to online scammers. Below, we explore some of the ways that online casinos are using AI to their advantage in greater detail.

Checking for Fraud 

Undeniably a positive, AI is helping online casinos check new accounts for potential fraud. AI programs can observe, record, and report behavior trends that are flagged as potentially fraudulent. Specifically, AI software builds models of potentially fraudulent credit and debit card transactions and then compares this to real-time transactions carried out on the site. If the transactional behavior is similar to the AI’s fraudulent model, it is flagged and reviewed, potentially stopping fraud before it happens. Companies like bet365 were pioneers in using this technology which is now mainstream today.

Identifying Problem Gamblers 

Every casino in the world is susceptible to problem gamblers trying to take advantage and play the system. In other words, wherever there is gambling, people will try and cheat. It’s nigh on impossible to prevent cheating, but AI helps online casinos identify those that try. In the online world, AI software has been developed to record data from gamblers’ accounts before observing that data to identify behavior consistent with that of a cheat. When cheat accounts are identified, they are limited or even closed down, potentially saving the casino lots of money in the long run.

Collecting Gambler Data 

One key aspect of AI is its ability to help online platforms collect people’s data and use it to benefit their service. Casinos are certainly no different in this respect. From the moment a gambler signs up for an online account, casinos utilize AI to monitor all bets placed, and AI also assesses social media sites to understand which types of offers are popular and which of their online services are preferred by customers. This strengthens the casino’s marketing strategy and allows them to gather vital information to personalize and tailor offers to individual customers, enhancing the customer experience and encouraging people to spend more money on games that they enjoy most.

Supporting Customers

Casinos don’t use AI exclusively for their benefit; they also utilize it to help their customers. Many online casinos have installed live ‘chatbots’ on their websites, facilitating live interactions between customers and the site. The chatbots are programmed with FAQs, which are used in response to general inquiries that players have. It’s a helpful support mechanism and allows customers to get quick, accurate answers to some problems they face on the site. It’s designed to reduce waiting time and to avoid the need to connect gamblers with a human support agent.

Overall, it’s evident that casinos are using AI to their significant advantage, as they have developed technological systems that reduce challenging behaviors from their customers. AI also offers casinos the opportunity to tailor their marketing to their client’s desires and preferences, which, when intertwined with better customer support, is likely to have a positive impact on the profitability of the site overall.

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This post was originally published by Analytics Insight at Analytics Insight

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