As face recognition, ID verification, and artificial intelligence become part of day-to-day consumerism, we’re taking a look at how this once sci-fi-only technology is changing major markets around the world. We’re starting with what impact facial recognition technology has had on the gambling industry.
Online casinos are more popular than ever and huge amounts of money are exchanged between the ‘house’ and gamblers every day. This has led to many people questioning whether these businesses are safe and secure.
For the last few years, facial recognition technology has been a natural ally for brick-built casinos; improvements in surveillance systems and CCTV, facial recognition technology, and other innovative features have allowed casino employees to spot concerns quicker and smarter than they’ve ever been able to in the past. Jump forward to today and as customer expectations become more sophisticated, so too must the technology used. Keep reading below to find out how facial recognition technology is impacting online gaming:
Betting + Technology = The Perfect Mix
The gambling industry was disrupted in the mid-90s with the introduction of online casino apps. These new apps set the tone for the next era of gambling. Thousands of players have turned to convenient online casinos instead of travelling to bricks and mortar buildings.
A research study in 2016 estimated that by 2021 the online gambling industry would have a revenue of over $1 trillion. Wow!
However, this change has led to an increase in malicious behaviour. And, along with the changing nature of regulation, online gambling companies have learned that they have to stay ahead of the game or end up losing all their chips (sorry we had to include at least one pun!).
Technology Has Evolved, But People Have Stayed the Same
Both brick built and online casinos have had to find new ways to manage their players; from encouraging new players to join and spend their money to protecting their existing players from criminal activity. It’s not easy to do, and as the online gambling industry takes on and adapts to the new technology, we see a brand new wave of improvements focused around customer behaviour as they play on games like casino Holdem at Mansion Group.
Face recognition technology has a historically strong return of investment within the gambling sector. There are a number of benefits of facial recognition technology in the gambling industry. Here are some of the main examples:
- Account set up and regulatory compliance – although most online casinos allow you to play as soon as your first deposit has cleared, the majority of them limit the amount of money you can spend until you’ve provided them with the required documentation they ask for. These documents are used to confirm a player’s name, age, and address. They ask for this documentation because online casinos have to follow laws like the KYC (know your customer) law. Facial recognition technology can be used to help speed this process up. Customers can take a photo of an ID document and a selfie and upload it inside the app. This makes the registration process much faster.
- Continuous identity verification – in the past, online casinos had to assume that a player was being genuine when they said that their account had been compromised or hacked. Facial recognition technology can give online casinos access to a gambler’s front-facing camera. They can use this to see who was logged into the account when it was compromised. It also helps them spot unusual activity on the account. Basically, they can use it to verify that the person playing the game is the same person who logged into the account.
- Customer experience and VIPs – luxury and high-end casinos are known for going the extra mile for their extra-special guests. Identity enabled technology enables casinos to customise and manage the user experience. As gamers move around properties, automatic access controls can be enabled for certain lounges and rooms, which takes the pressure off employees. Online casinos can add more layers of exclusivity with multiple-factor account verification.
Is Face Recognition Technology a Safe Bet?
Facial recognition technology is still fairly new in the world of online casinos and gaming, but casinos and other gaming companies are responding well towards it, especially considering there are so many benefits for both the business and the consumer.
Nevertheless, we must remember that any potential benefits need to be measured alongside any negative impacts facial recognition technology has – mainly the impact on civil rights and consumer privacy. This is why online casinos have to work alongside other companies to think critically about how they roll out this software in their business.
There are a number of benefits of using facial recognition software in online casinos. It’s having a huge impact on the world of gambling and gaming most notably the improvements in security. We expect to see this software continue to evolve over the next few years making online gambling safer than ever before.