During the global Covid-19 pandemic, most industries were forced to suspend their activities. However, the online casino sphere has grown quite rapidly.
Statistics on the Growth of the Gambling Industry
According to Statista’s 2019 report, the area of gambling is estimated to be almost $ 59 billion. Moreover, the report points to an industry growth rate of 57% by 2023.
At the beginning of 2022, Yahoo released a report that estimated that the gambling industry would grow by almost 12% between 2021 and 2026.
Based on various analyses, it is possible to follow the stunning development of the game market. At the same time, big data is also rapidly evolving. Thus, the Casino Market team has made the basic tools for which data is used in the iGaming industry.
How does Modern Technology Improve Casino Operations?
Modern technologies such as artificial intelligence (AI) and machine learning (ML) are very popular in the online casino industry, as they can solve critical business problems independently.
There are several reasons for using AI and ML:
- Immediate identification of problem players. AI and ML notice all unusual transactions and help identify fraudsters, which reduces the amount of negative experiences in the game.
- Fast adaptation of algorithms to the new player. With the help of casino forecasting analytics, profiles of participants are created. All collected data is converted into redeemable points, bonuses or promotions for the profile owner.
- Personalisation. If the participant spends a lot of time at a certain game, the system generates personal suggestions about upcoming events. Players are notified about new opportunities that suit their interests.
- Data protection. To uphold players' data on the casino website or in the app, a special SSL encryption system is used, which applies artificial intelligence technology to process payments.
Based on the information above, it can be concluded that AI and ML in the gaming industry serve to:
- make an improvement of the integrity of the casino;
- give participants a sense of security;
- improve user experience;
- encourage people to continue playing at online casinos.
These technologies are used by gambling companies in all areas of online casinos: from personalization of content to generation of random outcomes in slots of top providers.
Use Of Data For iGaming Marketing
Online casinos use data to improve consumer experience at every stage of the game.
The gambling industry is extremely competitive. Therefore, companies use marketing tools to attract customers.
In a highly rival market of online casinos, companies need to have access to a wide variety of promotion instruments. To improve positioning, operators are actively using the information as a marketing tool.
Various options can be used as a global analytics service, and data helps iGaming with:
- tracking current trends in the industry;
- forming a profile of the target audience;
- allowing online casinos to find out the betting of clicks in the game;
- showing a preference for new players in the present time;
- game optimization for new customers.
Thus, casino consumer data is an indispensable digital toolkit. Marketing analytics add value to casino’s operations, based on data collected in the past and present to enhance future operations.
New Market Analytics
The key trend in the online casino industry is analytics. In this case, data analysis has significant weight in determining the scope of future long-term investments.
Large companies in the field prefer internal research of foreign markets. While other companies cooperate with local research firms. Industry reports show that there are opportunities to expand gambling markets. The data obtained from such reports set the direction of development for companies.
Thus, data collection is a vital component of the development of the online casino industry. After all, it is predicted that the gambling market will grow in value by about 250% by 2030 compared to 2020. This take-off will certainly be facilitated by big data, which is helping platforms maintain interesting and attractive content for users.
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