AI skewed in punters’ favor, regulation key for indominable tech: experts
Artificial Intelligence (AI) is currently exerting, and will exert even more, a profound impact on gaming – with the advantages currently weighted towards punters. Experts Frank Schuengel and Harmen Brenninkmeijer outline how operators need to lead the way in educating punters, while regulators scramble to establish the right rules to ensure fairness.
Please find a summary of the key points below:
02:00 – Countries are regulating themselves, it’s a natural progression of the industry.
03:05 – NFTs, the metaverse, AI and what is fair for gaming? Company has developed AI that can predict what a player will bet on and adjust the odds according to what it thinks they’ll choose.
04:53 – Who will build the first AI sportsbook? Who will develop the first AI casino? Who will create the first AI slot machine?
06:26 – Regulators may in future require operators to have AI tool to regulate problem gambling.
07:50 – Isle of Man has queue at the door for companies wanting to sign up.
09:05 – AI becomes the moderator – even if it’s an RNG, theoretically could predict it, could analyze skill levels as well. Puts the advantage in the players’ hands.
10:15 – If an AI tool is used to analyze slots, could have a much higher chance of winner. Skills games are easier to see, but with slots the advantage could lie with the operator – can use AI to then push back the win possibility.
11:30 – There’s never been so much computer firepower in players’ hands.
13:00 – Company in Isle of Man that employees 170 people just betting on horse races every day. Company in London that employees humans to advise them what to bet on. That’s going to change. Now you just ask the machine. 2023 is the year where Ai breaks out into the mainstream.
14:50 – Rules are likely to be too strict to begin with. Need a combination of lawyers and programmers to write rules.
16:30 – NFTs – so many currently out there that everyone is playing by trial and error. There isn’t a regulatory standard for NFTs. NFTs and crypto have an image problem, if you’re based in a proper jurisdiction, at least you know your investors or players can have reassurance in you. Players need to know that everything is fair.
19:30 – Who is going to be the first regulated metaverse casino? People will need to know that there’s the same rules as if it was a physical casino.
21:00 – The reason people play slot machines is because they get into a flow, forget everything else they have on their mind. AI can bring that flow right up to you and provide you with what you want. Could make personalized slot games, custom-made, instantly created slot experience.
24:30 – Compliance departments are the fastest growing departments in companies. Possibility to set up automated, AI-assisted betting, that runs essentially in the background – set up betting budget and allocation, then let it play ‘for you’.
26:00 – Create industry think-tank around AI – uses, regulations and safeguards. People can dump ideas and work on the future together.
28:27 – If AI does not feature on your product roadmap, regulatory roadmap and your risk roadmap, it’s high time you look at it.
Audience questions
28:50 – Will NFTs be used in the casino and hospitality business?
Right now, we still trust chips on the table, still trust the casinos that give us the chip. Imagine each chip to an online casino became an NFT. People need to come up with a concept and a game, and it will start taking off.
Part of the reason why they don’t take off is the bad image, due to the rugpulls. Part of it is how to design the experience, part of it is terminology – use different terminology, don’t call it an NFT. Keep the education curve as low as possible.
33:30 – Can use regulation to improve trust. But to a player, it’s how you act towards the player., value your players, earn their trust – then they’ll trust you with new technology. Currently players may know more about AI than the operators.
35:20 – Are there any regulations that will restrict operators from using and abusing AI?
There is existing legislation. There will be coming AI amendments to legislation. Responsible gambling regulations should cover many of the possibilities.
Operators should be open in informing punters of where and how AI is being used if they’re utilizing it.
39:55 – European versus Asian books. Bots will imitate bets more in Asian sportsbooks. For operators, you can use AI to also make money by placing the same bets – player and operator win.
AI technicians to be the highest-paid employees in the future.
41:20 – Are there legitimate uses for Blockchain tech?
Yes. They need a commercial use.
Most of the people that are working this technology will get ahead. Real focus is related to use cases of ledger-type, smart-contract, work.
43:58 – One job in danger due to AI is online casino managers, those who decide which games go on the webpage. For operators – if you’re paying for humans to optimize your websites, stop – use the machine.
