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Artificial intelligence is transforming various aspects of society, so it’s unsurprising to see that technology affects gambling. It is a massive global industry that may improve or worsen as it adopts AI.
Educational website Britannica says people legally wager a staggering $10 trillion worldwide. Also, lotteries are the leading gambling form, state-licensed or privately owned.
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Some experts claim the technology could detect behaviors so that it could prevent excessive gambling. Meanwhile, others believe it could personalize gambling experiences to intensify their addiction.
The benefits of AI gambling
The International Association of Gaming Regulators says regulators and operators are using AI to make gambling safer. For example, AI could analyze customer data to detect and predict behaviors indicating gambling-related risks.
If the program spots these issues, it will encourage a gambler to take a break, seek help, or reduce the money they’re wagering. Also, artificial intelligence could help operators in marketing their services.
Their data analyses could offer more effective campaigns catering to a potential customer’s preferences. IAGR cited countries that benefit from these AI gambling features:
- Norway: Norsk Tipping uses SpillePuls to prevent and reduce risky gambling. It sends personalized messages regarding gambling habits, encouraging them to think twice about them. As a result, the pilot test reports that 70% to 80% of people find SpillePuls helpful.
- Greece: The Hellenic Gaming Commission signed a memorandum of cooperation with the Danish company Mindway AI. Like Norsk Tipping, it will use artificial intelligence to minimize gambling harms.
Scotty McKeever, the founder of the AI firm EquinEdge, told BBC this technology doesn’t have a positive or negative impact on gambling addiction.
EquinEdge uses artificial intelligence to analyze horse statistics to predict which ones are likely to win races.
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“It’s a disease no different than any other addiction. Those who suffer from it aren’t going to be helped by making gambling more boring or challenging, nor will they be harmed by making gambling less boring or challenging.”
AI News says artificial intelligence can enhance security and fraud detection. It can detect and identify behaviors that deviate from the norm to spot fraudulent activities faster.
The risks of AI gambling
Workflow automation solutions firm Computronix warns artificial intelligence could make gambling addictions worse. For example, operators could use AI to send ads depending on a bettor’s location.
If it detects you’re watching the latest NBA game live, it may encourage you to put wagers. Moreover, AI gambling programs could fuel addictions further if it detects relevant behaviors.
“An individual’s betting patterns and preferences can be leveraged to influence the bettor with highly personalized wager incentives proven to influence their specific player type, regardless of where they are on the web or what device they’re using,” it explains.
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More importantly, operators could use AI to connect various datasets to learn more about a person beyond their registration details. For example, an artificial intelligence may link your name to relevant social media accounts.
The operator could gain data on an individual’s interests, earnings, personal life, credit history, and other sensitive information.