iGaming is currently growing like never before, with a gross gambling yield of £1.32 billion in just Q3 of 2024, and AI is driving growth in the sector like never before.
The industry is increasingly turning to artificial intelligence, aiming to improve the player experience and drive revenue. AI is now essential for day-to-day operations in iGaming as it drives innovation, safety and player satisfaction. As the technology improves, it will be central to the changing face of the iGaming industry for years to come as companies strive to stay one step ahead of their competitors.
But how exactly are iGaming companies using AI to drive their business forward, and what lessons can other industries learn about the wide world of artificial intelligence?
How are iGaming companies utilising AI?
Personalisation of experiences
One of the key things AI is being used for in the iGaming industry is personalising user experiences. This tailored approach has become a key sector focus as businesses look to improve player engagement and satisfaction. AI can provide insights that allow operators to tailor experiences to individual players based on their behaviour and habits.
Online casinos provide a perfect example of this approach as AI algorithms track players’ behaviour, including when players are likely to try out new games and how long they spend playing. This data allows companies to create unique recommendations and promotions for players to increase engagement and return visits.
AI is also used in the design of new and exciting content. When a player logs into a gaming site, bonuses and offers that are relevant to the individual can be immediately generated by AI. This level of personalisation and the speed with which its results are available wasn’t possible before the rise of artificial intelligence.
The lesson here is straightforward: companies in any industry can benefit from a data-driven approach to improve personalisation. AI lets businesses gather insights in new ways, and using that to improve offerings to customers is something that all businesses can do. Businesses can gain a competitive advantage by anticipating customer needs and improving their experiences.
Fraud prevention and player safety
Security is of the utmost concern in the iGaming industry, with sums of money frequently exchanged between players and operators. AI also plays a part in this, with many operators using the technology to quickly and efficiently identify fraudulent activity.
Increasingly, AI is being used to detect irregular betting patterns in online casinos that could indicate fraud, allowing operators to safeguard players and themselves.
The use of AI in fraud detection allows a huge amount of data to be analysed and interpreted in real time, reducing the manpower needed to ensure the highest security standards.
AI is also an important tool in promoting responsible gaming as it can learn how to spot patterns in behaviour that could indicate problem gaming. By doing this in real-time, companies can ensure they stop issues in their tracks by triggering alerts to players or even imposing limits on their accounts for a spell. Some operators offer links to support services or self-exclusion options to ensure gaming remains what it should be — fun.
Using AI in risk management and preventing fraud can be an example for many other sectors. Any industry dealing with financial transactions or sensitive data can take lessons from the proactive approach of the iGaming industry’s use of technology to spot issues before they become real problems that can adversely affect the companies involved and their reputation.
Improving customer support
AI is significantly impacting the iGaming industry’s approach to customer support. While chatbots might not have the best reputation with the wider public, the improvement in machine learning has led to these improving greatly and they’ll continue to do so.
Chatbots or virtual assistants allow customer service to be accessed around the clock, no matter where a player is. These chatbots can solve issues and answer frequently asked questions while reducing operator overheads.
AI-powered chatbots can respond instantly to customer queries, with the added benefit of handling a high volume of inquiries simultaneously. As a result, large customer support teams are not needed, allowing human resources to be deployed elsewhere in companies and used to handle more complex issues for players.
Improvements in natural language processing have allowed AI-powered virtual assistants to improve their communication with humans. A more conversational approach from an AI system can provide more seamless and effective customer service, increasing customer satisfaction and the likelihood that they’ll return for another session.
AI-powered customer service solutions used in the iGaming sector will benefit multiple industries where quick and effective support is imperative. Chatbots and virtual assistants provide 24/7 support instantly and can handle increasingly complex issues. Customer service should, however, always retain a human element, and companies must balance the savings available thanks to the use of AI with human intervention, which is crucial for handling more difficult or sensitive problems.
Adaptive game design and development
While AI is already proving useful in supporting current gaming options, it’s also important in creating new dynamic and engaging games. Machine learning helps developers design games that adapt to players’ skill levels, ensuring a challenging yet enjoyable experience.
AI learning can allow operators to adjust the difficulty of a game based on how a player is performing. As the player gains more experience and skills, the game adapts and increases the difficulty level to ensure it doesn’t become a boring experience that fails to encourage repeat play.
Trusted sites in the industry, like the reputable newcasinos.com, actively list operators using AI in competitive games such as poker or live dealer games. It simulates player behaviour and helps developers create increasingly immersive environments.
AI also provides useful tools for testing games as well. In the past, this involved manual processes as operators looked for flaws and bugs, but AI technology can now automate much of this and identify issues before the game is released. This can vastly reduce the time companies spend on testing to iron out problems. This helps speed up the development cycle and allows more titles to reach the market for players quickly.
Industries focused on product development can learn lessons from the iGaming sector, which is already using AI to streamline the design process and testing.
Automating some aspects of development can allow businesses to reduce the time it takes to get a new product to market, which can be crucial in driving revenue and ensuring a return on investment. However, it’s also the use of AI that allows for the design of adaptable products to meet the different needs of customers, which could be a complete game-changer for many sectors.
Predictive analytics and player retention
Companies are increasingly using AI for predictive analysis – the science of finding patterns from the past to make informed decisions about the future. This not only allows operators to learn from players’ behaviour in the past but also to predict and anticipate what they will do in the future.
Using historical data, AI can learn patterns to predict when players might do something as straightforward as making a deposit or trying a new game. Identifying these trends early allows iGaming platforms to be proactive when it comes to player retention: AI can allow them to offer incentives such as personalised bonuses depending on the individual player.
These targeted incentives can improve player retention and engagement, providing a competitive edge over those operators left chasing players who have already moved on.
Almost every conceivable industry can benefit from using AI’s predictive analytics. Understanding what customers want before they do is critical to staying ahead of the game and arranging to deliver exactly what is needed.
Driving innovation with AI
Artificial intelligence is already reshaping the iGaming industry, and it will likely be the driving force in the sector for years to come. From fraud detection to customer support and game design, the technology is constantly evolving and will become even more critical in the future.
By embracing this technology now, companies in other industries can ensure they won’t be left behind. Looking at what is already happening in the iGaming sector can help industries from automotive to healthcare, finance and everything in between flourish in exciting new ways.
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