The rise of online gambling is nothing short of spectacular: valued at around $75 billion, it is expected to double by 2025 and at least triple by the end of the decade.
And the numbers will likely be even more impressive if the relentless pandemic continues to push gamers into the digital avenues of entertainment.
Live dealers, virtual reality casinos, blockchain-based proven fair games – the technology has been unstoppable over the past two decades and isn’t likely to falter any time soon, at least as long as Moore’s Law is upheld and the demand for quality online casinos remains where it is now.
But the most breathtaking technology reshaping online gaming – and most other online industries for that matter – is data science. It is responsible for the ads you see, the games suggested to you, and even the captchas you get when you access an unknown website.
So what exactly is data science and how does it affect casino players? Before we get started, we’d like to give credit to Anna Rosak, a gambling expert from KasynoHEX, who gave us insight into casino data science and also helped us put this piece together.
What is Data Science?
As technologies develop, more and more interdisciplinary fields appear, and data science is one of them.
It uses scientific methods and algorithms to extract valuable knowledge from structured and unstructured data and then produce insights in many other areas, such as marketing, software development, customer service, etc.
Online casinos have already started to capitalize on big data in various ways, and this trend is about to go global.
● Search for competitors. Having access to the behavior of competitors, it becomes easier to spot their disadvantages and gain as much advantage as the data analysis allows. In addition, Big Data can consist in getting an idea of the level of competition and the saturation of such and such a market or its segment.
● Customer preferences. The likes, dislikes, expectations and inclinations that drive purchase decisions can be obtained through Big Data analysis.
Collecting customer preferences has long become essential to successful marketing, and it goes without saying that online casinos are doing it too. You must have noticed that almost all websites want you to accept their cookies so that they can collect useful information about you.
● Online Security Breaches. Online casinos use Big Data to identify weak points and improve their online security, particularly in the storage of customer data and payments (deposits and withdrawals).
Big Data is undoubtedly the key element for the activity of online casinos.
At the same time, it has very little benefit for casino players themselves, except for improved content show (which is not always good, because many bettors prefer do thorough research rather than succumb to what is announced to them).
What if data science can’t help you choose an online casino?
While data science is a crucial part of any cutting-edge business, it won’t help you choose a trustworthy online gambling site. For this you will need:
a) Check licenses: Make sure your casino holds at least one license issued by the UK Gambling Commission, the Malta Gaming Authority, the Government of Curacao or a trusted license. Pro Tip: The license number is usually found at the bottom of the site. AllRight Casino can serve as a good example for this practice.
b) Check the seals of approval, certificates and awards: the seal of approval from eCOGRA would be a perfect proof of the fairness and reliability of your casino. However, any casino with proven fairness would also be perfect since these casinos are verifiable (you can check the fairness of the results at the end of the gaming session).
vs) Make sure there are enough games to play: slots, poker, blackjack, live dealers, progressive jackpots and other basic games are essential if you do not want to look for another casino once you have decided to change your game.
D) Make sure there are enough fast and user-friendly payment methods: Look for casinos that support prepaid cards, cryptocurrencies and e-wallets, and make sure the withdrawal fees are reasonable.
e) Check if the bonuses are reasonable: Go through the terms and conditions web page to make sure there are no hidden bonus conditions.
Last but not least, always keep your mental state under control.
Avoid excessive gambling, and if you’ve spotted symptoms of gambling addiction, seek help from international organizations – BeGambleAware, GamCare, Gamblers Anonymous, etc. – or local.