Virtually every industry on the planet is currently working feverishly and trying to appreciate how to best apply the latest advances in Artificial Intelligence (AI) and data analysis technology for the benefits of their clients and their companies as a whole.
The online Casino and sports betting sector is no exception to the rule, and its advancements in the uptake of AI (like those below) are anticipated to be both exciting and extraordinarily rapid;
Machine Learning in Sports Betting
The Sports Betting Industry is developing predictive analytics programs for sports betting procedures such as using machine learning and AI to process vast data fields. With these computer systems in place, the Sports Betting Industry hopes to gain an edge in the competitive and often-arbitrary world of sports betting.
Sporting events are particularly well suited to this kind of predictive analytics as sports over time is quantified by a large number of repeated events. Any sports statistic nerd or fan of the Hollywood movie, Moneyball, is aware that the applications for this type of technology in sports betting could be positively ground breaking.
AI algorithms could be used to do what they do best, pick up sequences of events or data patterns that the human brain cannot yet process (such as a horse’s stride pattern, a pitcher’s signals to the catcher, through to a hockey goalie’s rapid eye movement) to undermine the ‘house edge’ and quite literally tip sports betting on its head.
Horses, Pitchers and Goalies are not machines (yet), so it is reasonably safe to assume that AI will not predict the result correctly 100% of the time. However, it could lead to ways that odds are generated that we don’t yet fully comprehend.
Until a few short years ago, it wasn’t uncommon to spot a ‘bot’ masquerading as a real player in online casinos.
While online casinos anti-bot systems have gotten much better in the short years since, there has been several cases of people using machines that can cheat slot machines in land-based casinos. The new wave of AI technology has reopened the issue for online casinos and a successful and renewed push to improve security systems has developed.
For now, the online casino industry is one step ahead of the ‘bots’, as it is indeed ‘bot’ technology that is being used to counteract the problem. The solution is in fact a piece of AI that can detect AI bots.
Preventing Problem Gambling
New AI is already being applied to a greater and more humanitarian cause than simply earning online casinos increased income. Online gambling company Kindred Group has joined forces with online casino games developer, Playtech, to apply AI that is used to detect the warning signs of problem gambling early on.
Playtech recently acquired BetBuddy, a leading online gambling platform that tracks potential problem gamblers. It works by tracking, recognizing and modifying behavioral patterns, evaluating responsible gambling data, analytics, and develops creative solutions to identify and proactively prevent problem gambling events before they occur.
The BetBuddy platform, ‘Power Crunch’, is a next-generation AI-powered responsible gambling data and behavior analytics service. The data derived by the platform via machine learning is instantaneously fed to both operator and player. This allows the online casino providers to distinguish signs of problem gambling and therefore, intervene accordingly and respond in a measured way at the individual, customized and appropriate level.
Players receive tailored communications, such as a choice of actions, and further player protection features and tools. Both rules-based and machine learning models have been tested with the goal of better understanding and spotting at-risk actions earlier than ever before.
Better Customer Service
Be it on the phone or through a chat feature, we’ve all experienced the frustration that comes from dealing with an online casino customer service ‘representative’ that is clearly not human. Now, smarter AI is now putting those ridiculous bots out of work.
Replacing them now are much more advanced bots that can access and analyse data and knowledge about an online player’s individual and quite specific playing habits.
This allows a level of more personalized service than ever before and much more relevant answers to questions that are delivered faster. In the event that an online player still needs to deal with a human, these interaction records will ensure that your inquiry is passed along to the customer service agent best equipped to deal with your needs.
Look for your helpful customer service agent at your favorite online casino to be completely automated sooner rather than later (if not already).
Swarm intelligence in Sports Betting
Swarm intelligence seeks to amplify, not replace, human intelligence, with the concept that large groups of people can theoretically predict a sporting event outcome better than just one individual can.
Swarm intelligence is the idea that by using a group of people working together, the level of intellect is greater than just one individual working alone. A form of ‘crowd-funded’ knowledge applies as groups of people who usually don’t agree, to have their opinions grouped into an insect-like ‘swarm’. This allows the technology to be powered by ‘group intelligence’ and applied to complete AI systems to make them more accurate and more intuitive.
Its only early days for the use of swarm intelligence in sports betting but early results have been encouraging. Swarm intelligence has already been used to placing racehorses in the correct order in the Kentucky Derby, correctly predict the score of the last Super Bowl and even to selecting a majority of Oscar winners at the Academy Awards.
The sports betting industry has accepted artificial intelligence algorithmic sports trading into its fold wholeheartedly. It may pass in the future that betting operators will look to retain the services of human sports experts as a form of ‘checking’ mechanism on the work of their AI counterparts. For sure, the relationship between humans and AI algorithms will be an ever evolving one, with both seemingly being required to be of benefit to each other and the sports betting industry and clientele moving forward.