Big Data is Creating Waves Across the Gambling Industry
Big data is transforming the online gambling industry forever in complex, incremental steps. As big data has been a buzzword in every technology-driven industry for the past few years, it was only natural that the iGaming industry caught the fever too. Online casinos have been increasingly using big data to create a highly personalized and delightful gaming experience for their players. After all, 67% of the gamers agree that they remain loyal to casinos that offer customized gaming experiences.
The depth of personalization and quality of gaming experience offered to vary from one casino to another. Some of the casinos use big data to help their players predict the odds of outcomes, which naturally helps them win more. Sportsbooks use big data to analyze the players, their tactics, and then make predictions about their play. This can make a massive difference for the bettors of a sportsbook.
Using historical data to predict sports outcomes is not a new phenomenon either. Bookies have been doing it for decades. They use historical data to offer more realistic odds to the bettors. However, the amount of data they crunch is nothing compared to what online sportsbooks deal with these days.
On the other side, online casinos and sportsbooks are using advanced browser cookies to obtain information about their player’s betting patterns, their preferences, and their behavior on the platform. They use insights generated from this information to send targeted ads that have higher chances of getting positive responses.
If the trend continues at this rate, large online casinos will be able to help their players win more because they have the financial resources to deploy highly advanced big data-driven prediction features. Small online casinos and bookmakers, on the other hand, will not be able to match them, and this can lead to a massive consolidation of the industry.
Whether small players will be able to survive this technological disruption is anyone’s guess at this point.