Casino’s Use Of Biometrics And AI-powered Identity Verification In Online Gambling
Social media and other platforms raised the risks of identity theft and other forms of digital crimes.
Without proper identification and verification software, the risk of addiction and minor exploitation rises. Many online casino platforms have an underperforming customer identity validation system, which increases the subscriptions of underage gamblers.
Criminals, such as money launderers, flooded the online casino halls. Money launderers could wash high figures in online casinos without alarming the authorities.
Online gambling also opened the window for scammers and phishers, waiting to steal personal information from users, including their financial data. Victims can only notice the attack after their bank accounts were depleted or changed.
Online gambling goes digital
People shifted their daily operations to digital because of the spread of the deadly coronavirus. The pandemic increased the volume of online transactions drastically, and the risks that come with it. The fast growth of online gambling increased the vulnerabilities of online gambling platforms. The situation needed better control and regulatory measures.
The developments in technology answered the need of the gambling industry. A biometrics and AI-powered identity verification system could resolve the issue.
The technologies could help secure the identity and funds transfer of online casino platforms. AI technology could detect irregular activities of users preventing and lowering the risks of scams and frauds.
Advancement in technology is essential in a nation’s growth. China is using face recognition to protect its people from daily hazards. However, people claimed that the use of technology is abusive since the government has an eye for people’s movement.
Casinos in Macau are using advanced technologies in securing the fairness of the games. Nearly 3 million Chinese tourists visit the gambling mecca every month, and the casinos compete to receive them.
The use of AI in Casinos
Regulators are imposing new rules to ensure the safety of gamblers. In detecting conflictive gamblers, AI recognition algorithms are used by casinos, proving the casino’s power to casinos to identify if who is a profitable gambler.
The AI system could collect gambler data such as time spent inside the casinos, betting volume, risk appetite. Win/loss ratio, remaining chips, past dishonest behavior, and net worth. Casino operators could also identify potential problem gamblers through their gambling behaviors. Operators could quickly formulate the best VIP programs to raise customer retention.
AI technology is also used in assessing the performance of casino employees. Every cent of income and wagers from gamblers are recorded in the system. Casino operators always face the moral dilemma of protecting the gamblers’ safety and interest and the company’s income.
Most of the players tagged as problem gamblers were the highest bettor. AI technology could be used in balancing decision that meets both customer demand and company benefit.
Protecting both the interest of gamblers and the company ensures the company’s success.
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