Machine Learning in Gambling: The Complete Guide
Machine learning is one of the hottest topics in technology today. This is also the case for machine learning in gambling. Most Indian gambling sites use machine learning today, making it a good idea for you to learn about the topic.
In this guide, we will look at what gambling sites use machine learning for today, what they are likely to use it for in the future and how you can use machine learning to your benefit.
Contents of this article
How Gambling Sites Use Machine Learning Today
The most common use of machine learning in gambling today is related to fraud detection. Machine learning allows sites to detect fraudulent accounts and transactions with high accuracy.
Machine learning can also be used for payment processing. Credit card companies such as Viseca use it to analyse data from billions of transactions per day while keeping costs low.
It is also common to use machine learning when developing chatbots. This allows you to have a personalised experience with bots that chat with you on sites such as Betfair.
Following the Money-Prediction Method is also a form of machine learning in gambling. It helps gamblers identify profitable betting patterns, which may be used for sports betting and horse racing.
And lastly, machine learning is used to block users who are suspected of cheating. Sites such as PokerStars and Full Flush Poker use it for this purpose.
How Gambling Sites Will Use Machine Learning In The Future
The most significant area where gambling sites will likely have a use for machine learning in the future has to do with customer interaction. This includes curating games for users, customising the user experience, and predicting what a customer will do.
This means that over time you will have fewer interactions with live chat support and more interactions with robots, which likely make more sense than most existing live chats.
In terms of personalisation, you might want to see games tailored according to your preferences. You might also want to play against opponents with similar skills and games that are matched up according to the type of game you prefer. For example, if you like poker, you might get matched up with other fans of the game in live games purely based on Texas Hold’em rules.
This will also translate to other experiences. For example, you might see custom poker tables when you log into your account instead of the standardised ones used on most sites today.
In terms of predictions, sites will start to use them for marketing and recouping funds from players who have engaged in fraudulent activities. This will likely happen in two ways:
- Site will start to use machine learning for profiling users, making it possible for them to target players with promotions and offers that they are most likely to respond to. For example, if the site knows that you like watching football matches, then you might receive a special offer related to this sport during the next match day. For example, you might get a bonus of, say, 100 dollars if you play for at least one hour during the match. Similarly, the site might give out special bonuses if it knows that you are a fan of specific football clubs (or even players) or if they know when your favourite team is likely to win matches.
- Sites will start to use machine learning for detecting fraudulent activities. If the site knows that you are a fan of specific players, then it might flag your account if it starts receiving deposits from new sources.
How You Can Benefit From Machine Learning In Gambling
To benefit from machine learning in gambling, you need to improve your game first and foremost. This is because you need to be more of a winning player than the machines, which are likely to use better algorithms for processing data and making predictions.
It helps if you have patience
Secondly, it helps if you have patience in the long run. While we will see a new wave of chat robots that can provide support for casual players over time, it might take some time before you get the help of sophisticated artificial intelligence when it comes to making high stakes bets. This is especially true if you are an expert in a particular area or plan to play competitively against other players with similar skillsets.
If you manage to overcome both of these hurdles, it becomes possible to have an advantage over the casinos and live games. For example, you might be able to read the messages sent by a chat robot, which is doing its best to engage with you conversationally. You can analyse these communications to find patterns that are likely predictive of certain events or outcomes.
Predicting possible win streaks
This means that if on average, the chat robots used by the site are more likely to send out a message when they win, then you might be able to profile them and predict whether they will win or lose. For example, if you get asked by a chat robot whether you want to increase the size of your bet on a given game on multiple occasions, it is possible that such behaviour can be read as a sign that the robot will win.
Likewise, if you see chat robots that are far more talkative than others, it might just be a sign that they will perform better in winning games. The level of engagement and the number of messages sent out by bots can translate into their actual performance in live games over time.
This also means that it is possible to have an advantage over the casinos and chat robots when playing blackjack, poker, or any other online game with a random element. You can look at the events in past hands, which allowed you to win money from them (or conversely lost cash from you) and figure out the main reason for such events. Then you can use this knowledge to your advantage when making future bets.
Of course, suppose the machine learning algorithms used by casinos become more sophisticated in time. In that case, it might become harder and harder for you to have accurate profiling of chat robots. On top of that, those who develop these chat robots are likely to figure out ways to hide the patterns that can give them away.
Consequently, you might need to be better at reading chat robots than they are at hiding their intentions and predicting human behaviour. This means that you will have to understand all of the various ways in which these algorithms try to trick you into making specific bets to beat them at their own game.
Similar to games played against human opponents
This is similar to games played against human opponents, and it can be a challenging endeavour for all who want to improve their game without cheating or changing the game’s rules. Another thing that you should keep in mind is that chat robot algorithms will likely be updated over time, which means that you will need to be constantly aware of how these algorithms are evolving to stay ahead of the curve.
Therefore, it will be necessary for you to learn more about machine learning and data science if you want to improve your game with the help of chat robots. You do not have time to worry about this too much, though, as it is likely that you will be able to make the most of the chat robot algorithms in a few years from now. Until that happens, it might be wise for you to focus on improving your game by playing more often and trying out all sorts of methods with different bots.