The online gambling world has always relied on technology. As such, with each technological advancement, casino operators and bookies must look into whether the technologies can improve their services. Over time, these improvements have resulted in more reliable and streamlined gambling sites, such as those highlighted on gambleonline.co.nz, making gambling quite accessible and fun. But the improvements are far from over. With emerging technologies like artificial intelligence (AI) and cryptocurrencies taking root, gambling experiences are getting better. We look at their influences and what this means for players.
The Role of Crypto in Gambling
The legality of cryptocurrencies may still be in question in some areas, but there’s no denying that it has revolutionized the gambling industry in the following ways:
1. It has made playing more affordable. In the past, operators relied on intermediary financial institutions to receive and make payments. For example, if a player needed a wire transfer, the operator would charge the player for the fees it paid to the bank. However, with crypto, operators and players can cut out the intermediary and transact directly, which eliminates or reduces the transaction costs.
2. It has increased trust between sites and players. For a long time, players have had to take the operator’s word for it when it comes to the game outcomes. But now, operators can prove their goodwill through blockchain technology. Since it relies on immutable ledgers, the transactions and game outcomes are unchangeable unless the player and the operator agree to the changes. As such, players can trust that what they see is what they get, which has resulted in more signups in sites that use such mechanisms.
3. It has secured payments. Players and operators have often had to worry about data breaches that can result in financial losses. Take the example of site payments to an e-wallet. If the payment gateway is not secure enough, hackers can intercept the payments and redirect the money or steal the financial data. While sites have been working on this by using encryption protocols such as SSL, using crypto provides them with a secure alternative. Crypto transactions take place in decentralized systems that offer a high level of protection against data breaches. As long as the operators and players use secure connections and keep their data private, hackers have a hard time accessing the money.
4. It has afforded people with privacy. While many people have no qualms about sharing their love of playing games or placing bets, others have privacy concerns. For example, someone who wishes to use their bank account to secure a loan facility may not want casino transactions showing up on their application. With crypto, such players can still enjoy playing without leaving a trace of their activities. However, this privacy is not just for such players. It also applies to players who may wish to separate their financial details (cards, e-wallets, etc.) from their playing.
5. It has opened up gaming to people across the world. While traditional payments may not be available to all players, crypto is. For example, players whose banks cannot allow them to make card payments to casinos can use crypto to make and receive payments. This technology thus removes geographical barriers and makes playing accessible to all.
6. It has sped up transactions. A few years ago, players had to wait days before they could access their earnings. With crypto, this waiting time no longer exists. In fact, payments can reflect in as little as minutes, enabling players to make and receive payments as fast as they want.
The icing on the cake is the reliance on smart contracts. Rather than using third parties to make and receive payments, sites can integrate smart contracts that automatically determine who gets paid.
How About AI’s Impact?
Artificial intelligence (AI) has become such a core part of our lives that it features in many aspects. So, how has this played out in gambling?
1. Better Game Recommendations.
Before AI, casino operators and bookies operated based on generalization. If many people on the site liked slots, then the operators would suggest slots to every player. If people liked betting on football, then everyone got football market suggestions. While it worked to some extent, it was a source of frustration for players or punters who had different interests. AI simplified this by enabling marketing teams to sift through data and extract patterns, which they could then use to tailor suggestions per client. So, instead of suggesting the same thing to everyone, sites now make suggestions that align with a person’s spending habits and game or market preferences.
2. More Player Protections.
With AI able to decipher patterns and make objective conclusions based on the same, it has played an integral role in the following ways:
- Higher account security. Algorithms can now detect when an account has been compromised, flag the account, and alert the affected player. These warnings help players act in real time.
- Problem gaming protection. While many players can navigate playing with ease, some do not know how to stop. Algorithms can detect when a player is making questionable choices based on their patterns and can flag the account so that the support team can offer guidance to the player.
Additionally, players also get to enjoy real-time assistance from AI bots that can help them tackle issues as they arise.
