Artificial intelligence and its many applications are helping to transform almost every industry on the planet, such as retail, manufacturing, healthcare, law, agriculture, business, education, and even the iGaming industry, the latter of which is a term used to describe businesses operating in the real money online gambling industry, such as bingo and lottery websites, online sportsbooks, dedicated poker sites, and online casinos.
Using various innovative AI-powered tools helps improve existing systems, enhance security, reduce costs, and tailor/personalize the experience for consumers.
The gathering and analysis of big data and the use of machine learning (ML) tools and other artificial intelligence innovations help boost revenue for iGaming operators. AI enables operators to provide better services, and the technology helps foster a sense of trust in the industry as a whole.
Advancements in AI
In recent years, several AI-driven advancements used by the iGaming industry’s most successful operators have helped push the boundaries of what is possible in this industry. Some of the most notable areas where AI-powered tools are having the most significant impact are the following:
• Operators today provide more personalized gaming experiences with more tailored promotional offers and bonuses and more relevant game suggestions
• AI detects and prevents fraudulent activity and underage gambling
• Enhanced customer support with advanced AI-powered chatbots, which boosts customer satisfaction
• AI-powered tools improve transparency by bolstering security on iGaming sites
• AI-driven software upgrades existing systems and leads to better business management
• AI helps take live dealer games to the next level, providing a range of interactive features and real-time data overlays and dramatically improving the live-streaming visual experience
Artificial intelligence and its many applications have helped iGaming businesses streamline their operations and provide a more immersive, rewarding, and engaging experience for the fully registered members who play on their sites.
Playing real money baccarat online, as well as blackjack, roulette, slots, poker, and thousands of other traditional favourites, is also now more rewarding than ever, thanks to AI.
Artificial intelligence monitors players’ accounts in a non-intrusive way to detect subtle patterns in behaviour and how they interact with the promotions, services, games, and support on that website to improve their services and even prevent problem gambling from occurring, raising the alarm if needed.
It can also provide the necessary guidance and support to vulnerable players deemed ‘at-risk.’.
It helps operators to deliver more personalized services based on an individual’s preferences, which enhances the overall experience and boosts customer satisfaction in more ways than one.
It can eliminate multiple accounts being opened by the same player for the purpose of bonus misuse and prevent other fraudulent activities, such as money laundering, from ever occurring.
iGaming operators that have invested in AI-powered systems report huge annual growth revenue
In recent years, it has paid for iGaming operators to invest in artificial intelligence. For example, the European market recorded a whopping 24% annual revenue boost, reaching as high as $115.7 billion in GGR (Gross Gaming Revenue) in 2023 alone.
Investments in artificial intelligence and machine learning have played a significant role in this sector’s transformation and continued growth, and expert analysts predict the iGaming industry will continue to show impressive year-on-year revenue growth for the foreseeable future.
Conclusion
Artificial intelligence is helping to shape the iGaming industry in more ways than one. Besides improving operational efficiency, revolutionizing how players interact with these websites, and enabling operators to personalize the experience to enhance player satisfaction, it helps provide better security, which enhances player engagement and their overall experience and helps foster a sense of trust in the operator and the industry as a whole.
The key driving factors why operators adopt these innovative AI-driven tools and applications are to increase revenue and raise global awareness of their brands to stay one step ahead of their rivals.
Future AI developments are also likely to include the mass adoption of cryptocurrency and blockchain technology, improved responsible gambling measures, better AI-powered chatbot player support agents, the incorporation of VR/AR/MR technology for more immersive gaming, and progressive web apps for smartphones and tablet devices.
These elements will combine to ensure continued financial growth of the global multi-billion-dollar iGaming industry.
