Problem Gambling, AI and Blockchain: Where is the Intersection?
Gambling addiction and problem gambling are taking a toll on the world, affecting more than 350 million people yearly. Almost 10 million Americans annually show behavioral patterns of gambling addiction and problem gambling. For example, statistical records indicate Australia has the highest gambling issues. The country alone holds about 18% of slots among 200,000 machines worldwide.
In the UK, the situation is a bit easier - a self-exclusion tool called GamStop prevents people from gambling problems. However, even with this self-exclusion, people continue to gamble at non-GamStop CasinoGap sites available in the United Kingdom. Gambling websites not signed up to GamStop provide their players an internal self-exclusion option, or punters just use blocking tools.
Blockchain and AI or Artificial Intelligence are seen as emerging implementations of gambling issues. Most gamblers suggest that using both technologies has made the gambling environment secure and trustworthy. Nevertheless, experts have found some drawbacks of the technologies' intersection.
Problem Gambling and its Symptoms
Gambling is both a boon and a bane. What started as an adrenaline rush of conquering, excitement, and fun might traverse the direction of diversion in life and finally embrace being an unhealthy obsession. Problem gambling refers to the behavioral change and activities of gambling that have serious consequences or hinder daily life activities. Problem gambling is often associated with gambling addiction, but there are slight differences. Infrequent gamblers can also suffer from problem gambling if gambling impacts their lives negatively.
Problem gambling has direct consequences on both physical and mental health. The first observable symptom is restlessness and irritation. This paves the way to compulsive gambling. Chasing losses and investing time in them jeopardizes the essential functions of daily life. Failure of morality and giving in to fraudulent means is deemed normal. Serious consequences might involve anxiety, insomnia, depression, etc.
Artificial Intelligence at Online Casinos
AI or Artificial Intelligence has been influencing a growing market. It is predicted that by 2025, it will have a net worth of about $190B. This computer-based feature mimics human traits and functions using machine learning and data collection. This function is implemented via PC, android, and iPhones as a part of the programming language.
Online casinos mostly use AI for fraud detention activities. By ensuring locational access and IP addresses of computers, it keeps track of new identities and accounts of the players who might be involved in foul means of play. It also supervises cash flow by checking transfer abuse, withdrawal limits, etc.
The self-exclusion service that keeps track of gambling addiction often uses AI's functionality through software like GAMSTOP, GamBan, etc. The AI detects potential users who wish to be suspended or blocked and excludes them from gambling for the detained period.
Blockchain Used in Online Gambling
With the rise of bitcoins and cryptocurrency in online gambling, the functionality of the Blockchain is serving its purpose. Blockchain refers to maintaining all online or digital transactions that use digital assets. It is accessible in a database, keeping a chronological chain of all encrypted transactions. This feature is introduced in online gambling to ensure people know the whereabouts of their transactions securely. Also, Blockchain guarantees data protection for users on gambling sites.
With this technology, there has been a dramatic reduction in illegal trading as the database maintains the transaction history. It has further ensured the globalization of casinos. Often, many countries restrict certain casinos, but by using cryptocurrency transfer using Blockchain, accessibility to casinos is provided. Blockchain can give players more control over their personal data, allowing them to share only the necessary information with casinos.
The Intersection of AI and Blockchain in Online Gambling:
Perhaps one of the most beneficial functionalities introduced by the intersection of both technologies is malware protection. AI detects all means of unlawful activities and eliminates the malware blocks without harming the unaffected ones.
Since Blockchains involve the transparency of the users, and AI responds to the identification and usage of the software, gambling addicts can easily be identified. This feature is being incorporated in software dealing with gambling issues. People suffering from gambling addiction can be traced, and reliable help can be provided to them.
Possible Drawbacks:
Though Blockchain and AI have various benefits, there might be underlying drawbacks. A Public Blockchain makes private data accessible to the public. This might bring in the risk of data stealing and manipulation by unethical hackers. A Private Blockchain, in that case, is deemed better, but it hinders giving complete accessibility to AI, which ultimately hinders its purpose.
Blockchain has introduced the feature of ‘smart contracts, which uses a third party known as Trusted Oracles. This induces the complexity of management for the user. Blockchain maintains the anonymous nature of the players, which hides their identity. This feature is often exploited by underage players, promoting gambling addiction at an early age.
Concluding Thoughts
Technology implemented by AI and Blockchain is used in many apps to make gambling accessible on most platforms. Since it also regulates the players' usability and duration, wide applications in many gambling addiction prevention software are also found.
