How Big Data is changing slot wins in the casino space

In the past, casinos relied on intuition and hunches to provide players with slot wins. Today, they tap data analytics and technology.

Big Data has come into play in the casino industry, and it will change everything. We linked up with one of expert Joe Booth (check out his profile), to explain it to you. Read more about this incredible new way of playing casino games in this article.

What Is Big Data?

When it comes to Big Data, there are two elements that you need to know: volume and velocity.

Volume refers to the sheer amount of information we generate in our daily lives. The second element, velocity, refers to the speed at which this data grows.

Big Data is a new trend in the casino industry spearheaded by companies like Bwin, whose headquarters is in Stuttgart, Germany, to analyse player statistics across different categories to maximise slot wins.

They analyse past casino winnings and losses to predict where a player stands regarding the wins. After that, they use myriad techniques to increase the percentage.

Big Data technology in casinos works by using algorithms that study player statistics, monitor travel itineraries, detect how often they visit the casino, and the percentage of winnings casino players keep.

These companies work with a huge amount of data by placing sensors on slot machines that can tell when a player wins or loses. Every time that happens, a signal is sent to the company's servers.

Big Data in the gambling industry

Gambling companies are also generating massive amounts of data about their customers. Online casinos depend on Big Data, as they have to analyze everything from traffic patterns and player profiles to what types of games players want.

There is an obvious need for technological advancements to enable companies to gather and analyze data at a fast pace when it comes to mobile gambling.

Big Data monitors online casinos, allowing them to identify problem gamblers or look for suspicious activity that indicates cheating. If they know how much each player loses over time, it will be easy to calculate their winnings and determine if the player is winning or losing money.

Why are casinos hesitant to use Big Data technology?

The main reason is that it is a new concept, and its reliability needs studying first. For example, the way slot machines payout would change if they were based on algorithms. Therefore, mobile gambling companies are afraid of losing money if these algorithms go wrong (e.g., a bug or malfunction).

How could online casinos use Big Data tech for their benefit?

Casinos can use Big Data technology to help them attract more customers and generate revenue. For example, they could offer special discounts on medium variance slots to frequent players after studying their gambling patterns. It will attract players who are already going to the casino and won't cost much from the casino's perspective.

Casinos can also use Big Data to identify and attract specific players, such as high rollers (people who often play at a lot of money each time).

Furthermore, casinos can use Big Data to find out the areas making them lose money and fix them. For example, if slot machines are in an unpopular place, they might start losing money. With Big Data, casinos will manage to find out about such things and make changes accordingly.

Disadvantages of using Big Data for slot machines?

● Casino players must always research online games before playing. However, casinos will predict when a player is going to lose, hence decreasing their profits significantly. But the technology also generates more money than it would without using Big Data.

● Big Data helps companies find out more about their customers and what games they like because it utilises Predictive analytics and data mining models. But it can prove dangerous for players who are afraid of being tracked and want to gamble anonymously.

● It can also provide information that is not accurate, as it relies on algorithms to analyze the data. And in the event that those algorithms have errors, this could be detrimental to the casino leading to mistakes.

● Casinos will predict more accurately when players lose. That means that they will track what games they play and for how long. They will also detect their winning patterns. Should a player know the information, they will reconsider before playing with real money on those slot machines.

Big Data is quickly gaining a positive reception to help casino owners find the right balance between "first time" customers who lose money and longtime players who have better winning odds.

In the future, casinos will likely marry Big Data as their primary business tool with advanced robotics technology to make the gaming experience more interesting.

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