Very few industries have been impervious to tech development. One could say that technology has the Midas touch as it often improves whatever industry it is introduced to, but that is a debatable idea. Technology has been incredibly kind to some industries, and the casino industry is one of them. This article will highlight seven ways technology has had a positive impact on the casino industry.
1. Bringing the casino to the people
The US has a complicated history with gambling. There have often been three camps in arguments about gambling; those that wanted it banned, those that thought it was not a bad thing, and those that did not care. The negative press about gambling led to specific regulations restricting what casinos could and couldn't do, including where they could be located. However, with time, casinos became more widespread.
Technology came as casino regulation laws were being loosened and has helped significantly in allowing more people to gamble. According to statistics, 117% more people preferred to gamble on their phones in 2018 compared to 2012. The internet and mobile devices have been instrumental in bringing casinos to the people by allowing them to gamble from wherever they feel comfortable.
2. Improved payment
In the past, payments were made from one bank to another. Now, there is a wide range of online internet payment options to pick from, from PayPal To Square. These new payment systems help casinos serve more clients from different countries. This is because third-party payment processing companies deal with money transfers from the client's individual banks. This leaves casinos to deal with third-party payment processors saving them time coordinating payments from different banks.
3. Broader market
Casino companies deal with people from different demographics. Some of their clients prefer playing live poker in a brick-and-mortar casino, while others are content playing online poker on their phones during their commute to work. Technology has opened casinos up to this new demographic of clients who would rather play online casino games than visit live casinos.
Additionally, the internet connects everyone on earth. Launching online casinos mean that casinos can connect with players from all over the world. Pair this with improved payments, and you can understand why the casino industry is expected to continue growing in the coming years.
4. Improved marketing
A section of technology, Artificial Intelligence, has had a significant impact on how companies market today. The casino industry has been a great beneficiary to customer targeting and user-targeted marketing campaigns. Simply put, casinos use Artificial Intelligence to create buyer personas that represent their potential clients. They then create ad campaigns specifically designed to appeal to the different buyer personas. In that way, they can launch more effective marketing campaigns with higher ROI (return on investment).
5. Improved customer support
Have you ever visited a website and got a greeting from a chatbot? Then, you have interacted with AI-powered customer support. Companies use automated customer support systems to help them serve more customers effectively without needing to hire too many new employees. Statistics show that over 90% of customers consider customer service an essential factor when deciding what business they want to work with. By employing AI services, casinos have implemented customer automated systems to help them serve their customers better.
6. Improved security
People are generally fearful of giving away their personal information to websites for fear of data breaches that would compromise their information. In 2020, over 150 million people's records were exposed due to data breaches. Cybersecurity is a hot issue that affects every industry with an online presence and receives personal information from clients, and casinos are no exception.
Casinos understand this and work very hard to ensure that their websites are secure. They know that data breaches compromise their clients' trust and would cost them their clients. They apply AI-powered security systems to help improve their security and notice and mitigate vulnerabilities before they are exploited.
7. Better games
This is arguably one of the best things for casinos that has come out of tech development in general. Game development has improved significantly over the years. Games today are made with high-quality graphics, exceptional aesthetics, and fantastic gameplay. There are entire companies today dedicated to game development for the casino industry.
How has AI helped in improving game quality for casinos?
Casinos collect a lot of data from their users. Additionally, a lot of research has been done in the fields of psychology and motivation. Artificial intelligence is used to analyze the data from customers' behavioral patterns in casinos and produce reports with helpful insight on what they like.
Casinos and game developers then use the data they have with the scientific information on how to motivate humans to create engaging and enjoyable games. Some people question how ethical it is to do this, but that is a debate that is too extensive to go into right now. At the end of the day, casinos are only delivering what customers want, better games than those before them, and that are more fun to play.
Conclusion
As you may have surmised, technology has had a positive impact on the casino industry. Considering tech development is an ongoing process that will not stop any time soon, one can only wait and see how much more tech will affect the casino industry in the future.
