-
Casinos for you
Machine Learning Technology Leading the Way to Safer Gambling
By Shane Addinall Oct 30, 2022 TechnologyOperators, tech companies, and regulators must unite and find the most sustainable way forward for player protection regulations and practices. In the digital age, there are solutions to prevent harm altogether.Effective technology application is essential to most industries' success in the digital age. The iGaming industry is no exception, and online gambling companies must adopt state-of-the-art technology to stay ahead of the highly competitive market.
With Responsible Gambling Week fresh in everyone's minds, we consider technology's role in establishing efficient player protection regimes. Leading tech company, Optimove believes that if operators have the right technology in place, they can predict gambling harm rather than respond to it.
Along with the UK Gambling Commission's goal for a Single Customer View (SCV), AI and machine learning are key to player protection efficacy.
The Big Picture
The UK Gambling Commission (UKGC) proposed an SCV to allow operators in the UK data sharing permission. This regulatory objective requires an industry-wide endeavour, according to the UKGC, which has already put the wheels in motion from a regulatory point of view. Although collaboration is key to a successful SCV approach, the right technology is paramount for it to exist.
The three-year national strategy aims to answer the challenge of creating a holistic view of a player's behaviour on all their online gambling accounts. According to research, the average UK gambler has more than 3 online gambling accounts, with younger gamblers having more.
While the Gambling Commission works on the legal facts, it expects the operators to propose a sustainable solution on how to implement the SCV objective. The next step is to design technology that enables operators to access a player's historical data from other gambling sites. As indicated by the UKGC, there are numerous ways to approach this, and operators will answer the call.
Protecting Players Through AI
An immediate step operators can take while finding the solution to the SCV challenge is implementing technology readily available to prevent harm. Although the UKGC makes a valid point with the SCV and having the data from all operators would increase prediction accuracy, current AI and machine learning technology have the power to lower risk figures drastically.
Predictive models powered by AI and machine learning enable gambling companies to assess and monitor their customers' wagering behaviour and step in before addiction grips them. Current statistics show that 0.5% of all Brits suffer from compulsive gambling. Studies also determined that nearly 3.8% of Brits fall into the at-risk category, translating to 2.5 million people possibly developing gambling disorders.
Motti Coleman from Optimove suggests operators mitigate risky gambling behaviour through predictive models. According to the AI company's Senior Director of Sales, this technology allows gambling companies to anticipate a player’s next steps and take timely action instead of reacting after the harm is done.
Proactive Rather than Reactive
Predictive behaviour modelling is an established science that uses mathematical and statistical historical and transactional data analysis to determine a player's future behaviour. With the powerful tool of AI machine learning, operators can create monitoring regimes with support teams to step in at the earliest sign of risky gambling.
Once the UK establishes an SCV system and all operators effectively manage predictive models, the region has the potential to become the leader in player protection practices.
You might also like