Why iGaming Needs Big Data

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by , 8 April 2021 at 11:33 pm (115 Views)
Existing as early as 1996, online casinos have come a long way in their 25 years of operation. From basic interpretations of existing casino and card games, the online arena now often expands far beyond what offline casinos can manage. With flexible software, diverse gamification systems, and expanding avenues of access, iGaming continues to push boundaries alongside evolving tech.

During this time, online casinos have gone from niche to major online operation, worth around $515 billion in 2021. With such size, and the potential that enormous customer bases bring, effective data analysis within the iGaming market is a must. For both ensuring casino success, and determining fair outcomes for players, big data is an indispensable tool, in all of its multitude of applications.

For the Players

The role of data in guiding players is an important one, if underappreciated a lot of the time. Much of this is owed to how casino software operates, and player expression of interest. Through the use of big data, websites can better modify their systems to cater to individual tastes. Sort of like how prediction algorithms work in streaming services like YouTube, data collection and analysis in online casinos work to guide players to experiences they are statistically likely to enjoy.

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Another major advantage here can be the modifications of the games themselves. By taking an overall look at popular games like slots, for example, more games will appear that appeal to proven tastes. This ensures a path of popularity for new games, which players should find more engaging than games developed by guesswork alone.

For Casinos and Developers

With such a developed online marketplace in the 2020s, there are many ways that new online casinos can succeed. The issue here is that the market is full of competitors, to the point that newcomers have an uphill battle if they want to make a mark. Through astute use of big data, however, even the newest of the new should be able to find a foothold.

One of the most direct implementations of this ideal comes from iGaming platform providers. Essentially, these are platforms that are developed to do much of the foundational work for new casino operators. Including customisable modules, room for growth and scale, and gamification implementation tools, getting started has never been easier. That said, success through these systems is made infinitely easier through both external and internally generated engagement data.

For external data, developers need to be aware of greater industry trends such as which games are popular at which time of year, which bonuses give the most return, and so on. Internally, websites need to understand their own metrics, which might take a slightly different shape than larger industry trends. Only by understanding and leveraging both can a casino fulfil its ultimate potential.

This far into the lifespan of iGaming, the use of big data has led to some established patterns of how games and casinos operate. The wide selection of slots is an illustration of data analysis in action, as is the recent explosive live gaming phenomenon. While not perfect, especially for players with more fringe tastes, the application of big data in iGaming created a powerful guiding tool. Whether for players or developers, the understanding and importance of this pursuit cannot be understated.