How can Big Data be used in iGaming?

Big Data plays a huge role in almost all sectors of the economy. Modern businesses have to process incoming information extremely quickly and in such volumes that were unimaginable just a few decades ago. Feedinco talks about how Big Data can be used in the iGaming industry especially the online casino industry.

The total amount of data in the world today is measured in zettabytes, and the vast majority of it has been generated in the last few years. It is worth noting that companies operating in the iGaming industry and their players produce more than 50 terabytes of data per day.

This huge volume of data, called Big Data, opens up opportunities for all departments of the gambling business: the marketing department can create advertising campaigns taking into account the preferences of players; the finance department can monitor the effective management of the budget, and the fraud department can quickly track suspicious activity.

Collecting and sorting through the vast amounts of data generated by players helps gambling brands gain a clear picture of who their players are and what they want.

What are the main advantages of Big Data for online casinos abroad and sportsbooks?

• Personalized Player Retention Campaigns: Today’s overseas players expect to be treated like VIPs. How can a foreign online casino make them feel that way? The first step is thorough research. You can learn more about your players by analysing each visit. Based on this data, you can build a personalized player retention campaign and use real-time marketing opportunities to make the player feel important in live casino.
• A complete player database. Operators need software to store users' personal information. Segmenting users by age, gender, location, and device type is the first step to creating an individual approach to players. Tracking player behaviour and preferences allows foreign casinos to tailor pages and personal accounts to them. If a player likes blackjack, then when logging in, the first thing he should see is all the varieties of blackjack that the casino has (even including the live dealer format). The same applies to slot players, cricket players, and football players.
• Using Big Data to Fight Fraud. Unfortunately, foreign online casinos and sportsbooks are often the target of fraud. Fraudsters use false or stolen personal data, VPNs and other tools to register, receive a bonus, fulfill the conditions and disappear. By creating a database of fraudulent transactions, online casino operators can develop measures to protect against them in the future.
• Analysing problematic behaviour. Player safety is a key element of reputation in the iGaming industry. Sometimes players need to be protected from themselves. Data analysis can reveal indicators of potential problematic gaming, and identifying them in the future can help prevent similar or other problems. Operators can set up alerts to monitor players who try to recoup their losses or, for example, play for long periods of time at night – all types of behaviour commonly associated with problematic gaming.
• Key metrics analysis. Some metrics such as Gross Gaming Revenue (GGR), Net Gaming Revenue (NGR), Average Revenue Per User (ARPU), First Time Deposits (FTD), and Churn Rate (CR) should be monitored on an ongoing basis. This data is essential for assessing business performance.