By the end of 2022, the Brazilian sports betting market is expected to open. The Playtech expert Francesco Rodano shared his assumptions about this. The Casino Market team offers an overview of the most interesting ideas.
Region’s Capability
The representative thinks the market has enormous potential. According to him, Brazil can transform into one of the greatest regulated areas in the world due to:
- the massive amount of uncontrolled gambling;
- the enthusiasm of the local population for sports.
Mr Rodano continues, saying that Playtech would be prepared to contribute by forming a strategic alliance with the region's top distributors, as it previously did in:
Responsible Betting
Great opportunities come with new dangers, therefore Mr Rodano thinks it is crucial to guarantee the long-term viability of Brazilian sports betting immediately.
In keeping with more general business trends, he contends that as the market opens, operators will pay close attention to how to secure users. Conscious wagering rules for gamblers concentrate on keeping a balance between money and play, preventing «revenge gaming» after a loss.
Distributors need to impact potential hazards by setting restrictions to protect the individuals' psychological and financial well-being in addition to identifying risks that may occur.
Playtech Solution
There are various ways to communicate with people who are prone to gambling risks. Depending on the risk level of each participant, an operator should be able to initiate the most suitable intervention. A useful first-level interaction solution has been created by Playtech for such purposes.
According to the brand’s studies, individual interventions managed by AI were 21 times more successful in motivating responsible gaming behaviour than earlier e-mail campaigns.
Artificial Intelligence Implication
Casino managers employed straightforward scoring systems based on fundamental benchmarks, such as:
- funds deposited;
- money staked;
- game duration, etc.
This one-size-fits-all strategy has a serious drawback in that it treats all participants equally, but Playtech is aware that human behaviour is far more complicated and varied.
According to Mr Rodano, access to a vast amount of previously unavailable personal data is made possible through virtual entertainment.
The chance to understand human behaviour using machine learning is priceless. For instance, an AI bot for poker developed by Facebook and Carnegie Mellon in 2019 defeated some of the best professional players in the world. The program calculated human behaviour and outsmarted participants.
Through its BetBuddy gaming analytics platform, Playtech implements AI technology. The program is intended to examine player activity to spot at-risk gamers as soon as possible. It is based on machine learning models. The solution analyses every participant and provides up to 70 behavioural indicators to compare them with the features of people who were ever addicted.
«Expert rules» are added to the models to enhance the data-based approach even more. The algorithms are straightforward. A distributor can carry out individual interventions, using the list of personal risk variables. Such operations are substantially more successful than conventional general interactions.
How Do Gamblers React?
The brand’s survey conducts that 76% of Brazilians wanted betting businesses to employ AI to detect problem gambling in the initial stages.
Punters' Fears
Playtech has carried out a customer study in 4 Latin American countries, including Brazil, to look at the main responsible-play-related challenges in each region.
Despite the absence of legislation, 56% of participants in the state claimed to make bets. The majority of them urged improved regional regulations and greater information on instruments for responsible gambling.
The survey revealed the main fears of the local population:
- the loss of finances due to dependency;
- the risk of fraud;
- the breach of confidentiality, etc.
Industry Regulations
Mr Rodano points out that many gaming businesses, that Brazilians have dealt with, operate through offshore, non-taxable locations with no consumer protection laws since the legitimate market has not recovered yet.
According to Brazilian law, gaming is still unregulated, but sports betting will be till the end of 2022. Mr Rodano emphasises how crucial it is for other types of gambling to do the same. If customers cannot get well-regulated popular sports betting options and casino games, they will not be as motivated to play within the law.
Cooperation for Further Work
Playtech is sure that the legal system for gambling only functions when all 3 parties work together, namely:
- government;
- players;
- gaming business representatives.
Suppliers perform a neutral role. The organisation operates with dozens of B2C brands which are frequently in bitter competition with one another. Nevertheless, this rivalry has no bearing on the company's capacity to devote time and resources to safer research and development in the gaming industry.
Playtech's goal is to provide secure gambling options that are effective, verified, and carefully tested, with an emphasis on the prosperity of the individual player rather than the welfare of all users. On the other side, businesses must inform counterparts in the industry and policymakers about the possibilities of this strategy.
Mr Rodano claimed that greater collaboration is necessary to succeed. For the market to be effective, operators must concentrate on more than just rivalry. Prosperity needs the support of the whole gaming sector.
The expert notes that while numerous efforts and experiments are carried out by companies in the area of machine learning, the outcomes are frequently not shared with anyone. The industry representatives should work together to protect end-users health and wellbeing. It should not be done to gain a potential competitive edge.
Playtech Actions
Safe gambling should be as important in Brazil as in other, more established markets, the provider's team thinks.
The business has negotiated with several regulators all around the world over the years. As a result, some of them have added laws governing behavioural analysis and customised intervention tools. To encourage the secure, long-term expansion of Brazil's legal gaming sector, Playtech is prepared to take a similar tack with the region's legislators.
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