An Overview
Not so long-ago humanity transformed into a civilization driven by technology, machines and artificial intelligence. AI has now become a popular term to use, it refers to a concept that helps to allow machines to gain human-like thought processes and would be used to find solutions to complex practical and logical problems. Artificial Intelligence has found its way into all of modern society including the online gambling industry, but what kind of affect it can be expected to have on major gambling sites such as Wizard slots, a place for new casino games, is still a debateable topic. AI can be used to predict outcomes of football matches that people would place bets on by factoring in player condition, previous form, previous results and other variables. But can not factor in unforeseen circumstances such as random poor performance.
The Potential Impacts
It is likely that if betting companies incorporate AI into their games it will reduce a significant chunk of the luck that is needed for gambling. As it can use numerous algorithms and statistical processes to predict the most likely outcome for different sporting events or even casino games. These means companies could use AI when giving odds on sporting events and try to minimise the amount of payouts in casino games. On the other hand, AI could be used by betters particularly those gambling on sporting events to predict the outcome, so this would work both ways. They could also use it during casino games and lower their stake or fold if they think they are likely to lose.
Although it is important to note that while the effectiveness of AI is on the increase and machines become more accurate, it remains impossible that an algorithm could use simply statistics to accurately predict the outcome every time. The artificial intelligence is simply used as a means of factoring in statistics and probabilities of an outcome, and AI certainly does increase the probability of an accurate prediction, but it can’t be relied upon
A case study was used just last year called Brains vs Artificial Intelligence, a 20-day poker competition in Pittsburgh featuring 4 Poker Pros against Libratus a Poker playing computer. After a whopping 120,000 hands had been dealt, Libratus the Computer has the highest stack of over 1.7 million dollars. This suggesting its ability to do strategic reasoning had surpassed that of the best humans.
The Verdict
All in all, Artificial intelligence in the gambling industry is already beginning to show its impacts but is yet to be implemented on a big scale. We believe its just a matter of time before AI is widely used to create the perfect bet. This is an exciting new aspect for both casual and regular gamblers to look out for on the market, you might even see artificial intelligence come to well known sites such as Wizard Slots in the future.
