How Big Data is Affecting Gambling
You may take one look at this headline and shake your head in complete bewilderment. What is big data? How can it affect the world of gambling? Well, we’re here to answer these questions and give you a clear picture of what exactly big data analysis is and how it could affect something you love.
What is it?
Big data analysis is the collection of millions of pieces of data that can vary wildly. These pieces of data can be anything from customer preferences to general market trends. These figures are then analyzed on a mass scale and a correlation is drawn between it all.
This then informs retailers and other businesses that they need to create more direct and specific forms of marketing. For example, if you bought a bicycle from an online retailer, that information would then be processed instantly and sent to online retailers. They will see your purchase and will try to sell you products based on your recent purchase, such as a bike pump. This is all done within a matter of moments.
This process of big data analysis can easily be applied to the world of online gambling because online casino sites are able to monitor exactly which games you play and cater your future experiences around your past play times. For instance, if you frequently played the slots at one particular online casino site, you may see more advertisements appear for that site on completely unrelated websites, such as a social media platform. It may advertise other slot machines similar to the ones you have played previously.
Who Benefits from Big Data Analysis?
While on the surface this may all sound pretty creepy and invasive, this technology can greatly improve someone’s experience of online gambling. For example, a veteran player may be sick of trawling through countless screens of many different games to find the one that he or she is used to playing. Instead, it is much easier to simply click a link that has been provided by the analysis of big data.
This saves a lot of time and hassle and can really improve a veteran player’s experience. Similarly, longtime players may be looking for a change of scenery every now and then. Therefore, having catered advertisements for different games of a similar genre that the player is used to can be very handy.
Of course, the online site itself benefits greatly from the use of big data analysis because it can maintain its player count over a long period of time by advertising specifically to each individual punter and offering him or her something that will keep his or her attention on an individual scale. These big data analytics can also inform a company of what it should do in terms of promotions and offers, therefore, mutually benefiting both the company and the consumer.
The company keeps the engagement of the current player base while the consumer enjoys the rewards and promotions the company has created based on the analytics of big data gambling.
Acts as Protection
In fact, some uses of big data analysis even go so far as to protect the player from himself or herself. Tracking programs, such as PlayScan and Observer, use a variety of behavioral sciences, mathematics, psychology, and artificial intelligence to detect whether a player is at risk of developing a gambling addiction. Players who frequently show signs that are commonplace of someone with a gambling addiction will be issued an advanced warning that will detail his or her behavior and what he or she can do about it. If the player continues to behave in a similar pattern, then he or she may even have his or her accounts automatically suspended or closed if the problem persists.
Of course, this is an incredible service and a great insight into players themselves because they are highly unlikely to realize they are falling into a trap. The players can then seek proper professional help after receiving this warning and, hopefully, this will be a step in the right direction for them.
What About Data Protection?
You may be wondering now, what about my data protection? Shouldn’t I have a say in what can and can’t be seen? Unfortunately, that is a big problem right now. The recent testimony of Mark Zuckerberg before a congressional committee just goes to show that even our social media accounts have no privacy whatsoever. It seems that today, any activity on the Internet, no matter how innocent, can be monitored and recorded for the purposes of someone else’s financial gain.
Facebook was used to advertise products that are similar to your likes. Big data sports betting is used to constantly advertise the next race or event. Many companies simply ignore data protection laws because they are not often checked, especially in places where online gambling sites are set up, such as Malta and Antigua.
Is It All Worth It?
The topic of big data analysis is a highly debated one and a subject that will not be forgotten any time soon. It seems as though every corner of the Internet is benefitting from this in some form or another. So the likelihood of it just vanishing one day is zero. And, while, it does have its benefits in the form of a fully catered and individual experience for each player, do they outweigh the numerous consequences that arise when dealing with data analysis on an incomprehensible level?
This is definitely a subject that needs wider discussions and an area that needs to be more closely monitored and surveyed. Laws may need to be changed or reshaped, but they must be changed quickly. It is impossible for laws to catch up with the rapid rise of technology, which seems to never take a break when finding new ways to provide us with services or finding new ways to take our money. While big data analysis may be a blessing for some, it could easily be a curse for others.
An energy industry consultant who spends a lot of time on North Sea oil rigs and conducting studies in and around the Arctic Circle. Sean started playing online casino games to compensate for long periods of boredom. In no time he turned from casual player to fan to fanatic and has since made it his mission to study the online casino universe from the players perspective. As a regular participant and contributor to Rick’s Picks, Sean sits in the Rick’s Picks advisory board and oversees our review team.
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