How artificial intelligence is changing gambling: FAVBET Tech

AI is at the top of technology news and discussions. Someone sees the development of artificial intelligence as a new industrial revolution and claims there is more hype about AI. Gambling is always at the forefront of technological progress. Therefore, in the world of gambling, AI is viewed with enthusiasm.  CEO FAVBET Teсh Artem Skrypnyk analyzed the main theses regarding the prospects of artificial intelligence in the gambling industry.

What is the difference between AI and ML

Artificial intelligence (AI) involves the creation of computer systems that can perform tasks that typically require human intelligence, the ability to make independent decisions, act and adapt based on limited information. Instead, machine learning (ML) is a subfield of AI that focuses on developing learning methods for computers that allow them to analyze data and gradually learn to solve complex problems based on that data.

AI knows how you play.

In the gambling industry, it is ML that is more widely used and not full-fledged artificial intelligence.

Prediction of player behaviour. The application of AI in gambling contributes to a better understanding of the motivations and decisions of players. AI-based tools are capable of analyzing large volumes of data and identifying dependencies. Thus, it becomes possible to develop recommender systems that consider users’ individual preferences and playing styles, which is especially relevant for online casinos.

Personalization. Machine learning (ML) enables a more profound understanding and segmentation of audiences based on various criteria such as gaming preferences, gaming history and betting type. With this information, you can develop exciting content specifically for a specific cohort of players instead of targeting the mass market. These can be personal bonuses, special offers, tournaments, and more.

In simple words, ML makes it possible not to guess but to offer the user something that will cause him an emotional response on the first try. For the developers of the gaming platform, this gives a severe advantage.

On the other hand, it also improves the organizers’ operational processes. In particular, machine learning makes it possible to analyze advertising campaigns, optimize budgets and promotion channels, and predict LTV (lifetime value) for different user segments.

Quality support. Artificial intelligence systems, such as Chat GPT, allow you to answer about 80% of standard questions related to payment instruments, betting rules, bonus conditions and other aspects. Thus, AI reduces the burden on call centres and helps operators to focus on solving more complex issues.

Responsible for gaming and player safety. The primary audience of the operators is adults who come to the casino to relax and get emotions. Therefore, thanks to ML, organizers have a tool to reduce risks for players: to monitor behavioural patterns to see when the user starts spending much more than usual. This can be a signal to limit the game activity of the player or to find out the reasons for atypical behaviour.

How FAVBET Tech works with AI

FAVBET Tech is currently engaged in service and segmentation development, implementing ML tools to personalize the loyalty system. The plans include even greater integration of AI technologies into the platform and automation of many operational processes.

Artem Skrypnyk sees a great future for AI and claims that it is worth investing resources here: “The last year has, without exaggeration, changed the IT industry. Not everyone understands or is willing to accept this. Our field is now at a point that will divide it into pre- and post-AI. Today, entertainment-tech companies must work to avoid remaining in the “before” era.
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