LeoVegas Plans Deposit Limits Determined By Artificial Intelligence

Face Made of Binary NumbersIn the midst of Safer Gambling Week, Scandinavian operator LeoVegas has unveiled a potentially game-changing innovation in the form of ‘smart’ deposit limits.

Using AI and data analysis, the firm plans to implement personalised deposit limits that would be based on a number of parameters, with a focus on safer and more sustainable wagering.

Data collection and a proprietary AI-powered decision model will determine the tailored limit for each player, with ongoing recalculations based upon stake size and the regularity with which the individual bets.

LeoVegas will trial the system in the UK via their own flagship brand and sister companies PinkCasino, BetUK and 21.co.uk, and it will be implemented from the next time that players at those sites make a deposit.

A press release from the company revealed that ‘personalised deposit limits and onsite messages are examples of new initiatives using AI and innovative technology to make gambling safer.’

And the LeoVegas CEO, Gustaf Hagman, said:

“Safer Gambling is one of our top priorities at LeoVegas: by ensuring a safe gambling experience we believe we are building more sustainable relationships with our customers.

“New technology has given us the power to refine these interactions and tailor them to our customers’ specific circumstances, making them more personalised and even more effective.”

And the use of AI doesn’t stop there for LeoVegas, who plan to utilise the technology to spot problem gambling behaviours and patterns – ensuring any issues are headed off before they escalate.

That could include an automatic lock, which would prevent players at risk from making a deposit until they have been targeted with the necessary safety checks.

Pre-Emptive Strikes Ward Off Regulatory Fears

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We have to commend firms like LeoVegas who invest in the technologies designed to keep their customers safe, and the hope is that more follow suit in the near future.

The Swedish operator has invested in improving the user experience but also in future-proofing their business, with numerous regulatory changes expected once the review of the Gambling Act 2005 has been completed.

And their ‘pre-emptive’ action might just keep them ahead of the curve – that’s according to Flutter chief Peter Jackson.

Speaking as part of his group’s Q3 trading update, Jackson believes that the changes that some firms have already made to their responsible gaming practices could stave off future governmental intervention.

He believes that the ‘voluntary’ culture will ultimately improve the betting experience and raise the standards of the industry as a whole, which would indicate that the sector is placing the needs of people over profit.

Just one of the moves that Flutter has made is to introduce a mandatory £500 net deposit cap, which has been rolled out in the UK and Ireland so far with the potential for a global rollout in the future.

That £500 limit can be increased by players on application, but the general feeling is that the pro-active work of Flutter – and now LeoVegas – is in direct correlation to a possible change of the law that will make deposit limits compulsory for operators carrying a UK licence.