Are we taking a bet in favour of AI?
The online betting industry is experiencing a technological revolution. This week’s Deep Dive looks into how AI is changing the way bets are placed, odds are analysed and users are interacting with online betting platforms.
🤖 AI accelerates effective game development with adaptable experiences, ushering the industry into a new age of innovation and enhanced user engagement.
🦾 AI can also detect suspicious behaviour on online gaming platforms to mitigate cyber attacks in real time and enhance protection for users and operators.
⚠️ Regulation and policy are necessary to protect consumers from harm, but the uncertainty and complexity of new technologies make regulation challenging.
QUOTABLE
“The Philippines has become a gateway to the Southeast Asian online market, being the only regulated jurisdiction for iGaming in the region.”
— Dmitry Starostenkov, CEO of Evenbet Gaming
BY THE NUMBERS
$79 billion The global online gambling market surpassed $79 billion in 2023.
2023 In 2023, Asia-Pacific was the largest region in the online gambling market.
71.6% Amongst high-stakes online gamblers in Asia, 71.6 percent prefer mobile betting.
$10.7 billion Despite gambling being illegal in China, their online gambling market size reached $10.7 billion in 2023.
QUIZ
What percentage of online bettors are willing to pay for AI-assisted decision-making tools?
A. 23%
B. 39%
C. 65%
Scroll to the bottom for the answer.
DID YOU KNOW?
Researchers are exploring the use of quantum computing in online betting, which could revolutionise random number generation, allowing players to complete games faster and enabling games to run smoothly no matter how many people are playing.
THE EDIT
📊 Data-driven decisions. Algorithms driven by AI precisely adjust odds throughout games, improving the quality of in-game betting decisions.
🌐 Varied regulations. Regulations around online gaming are not consistent, varying greatly between different countries and regions.
⚔️ Battling gamer fraud. Online gaming companies leverage AI, face recognition and sophisticated models for pattern detection to combat fraud.
👨🏻💻 Personalising the experience. AI analyses data to offer tailored promotions, bonuses and game recommendations to enhance user engagement and satisfaction.
WATCH
This 60 Minutes episode explores how the legalisation of sports betting has caused a rise in young problem gamblers and how AI-powered sports betting has become a public health emergency.
THE FULL PICTURE
According to Statista, the online gambling market in Asia is projected to hit $5.71 billion in 2024, with a projected market volume of $7.51 billion by 2029.
KEY PLAYER
Kim Mouridsen
A neuroscience professor at Aarhus University, Kim Mouridsen founded Mindway AI to protect players in the gambling industry. His award-winning software uses AI algorithms trained by psychologists to identify behaviours linked to problem gambling, allowing operators to intervene and support their customers.
HONOUREE TO KNOW
Irymarc “Tryke” Gutierrez
Irymarc “Tryke” Gutierrez’s Tier One Entertainment is a gaming and esports talent platform that focuses on streamers and professional teams through its Blacklist International imprint. After only four years of operation, its 420 talents across three countries enjoy a combined Facebook following of 100 million.
ONE FINAL THING
In 2023, parents of two minors claimed their children lost thousands of dollars using Robux, the official digital currency for the popular game Roblox, on a third-party gambling site. They have accused the gaming company of allowing this to happen. Both parents alleged they were unaware of their children’s gambling activities.
DISCLAIMER
This article offers general information and discussion on the subject. It is not intended as advice and does not promote or endorse online gambling. We are not liable for any loss or damage incurred by using or relying on this information.
