Gaming Eminence sits down with Eric Weiss - Vice President, Technical Compliance at Odds on Compliance to see his perspective on the impact technology has had within the gambling industry.
GE) Over the past 10 years we have seen the rise of everyday technology in not only making people's lives easier, but also the capturing of individual information or what some would call our “digital footprint”. How have you seen these changes affect the gambling industry?
EW) Technology not only makes our lives easier, but it is also used by gaming operators to gain a competitive advantage. However, the more we rely on the variety of services that are out there, the more vulnerable we become when a product fails or is compromised. This is especially true when it comes to Personally Identifiable Information, and the various tools that are used to verify a person’s identity and conduct cashless transactions (online or in person). Companies need to be cognizant of the regulations governing technology and take great care in securing PII data or risk losing the public and regulator’s trust and confidence.
GE) With the advancements in technology, it is playing more of a role in the gambling industry. Do you feel operators are leaning more towards wanting to be considered a tech business and if so why?
EW) Technology advancements have impacted all segments of the entertainment industry and continue to play an increasing role. Gaming is no different. Technology may differentiate a gaming company from others, but in my opinion, to call them anything other than entertainment companies would not be appropriate.
GE) If you had to list the top 5 advancing technologies on the minds of leaders within the gambling industry, what would they be and why?
EW) Online Casino and Sports Technology – There will continue to be significant growth in online wagering technology. Whether it be unique wagering options or ways to predict customer interest, market saturation will drive innovation as operators look for ways to differentiate themselves from their competition.
Cashless/Account Based Wagering – People are used to cashless transactions in every industry except retail casino gaming. Similar to ticket in ticket out, the industry will perfect the customer experience and customers will grow to expect cashless as an option, and casinos will be glad to provide them with it.
Cyber Security – Today cyber security is a board level conversation. There are any number of ways a bad actor can bring down a casino system or steal customer information. Having the right people, with the right skills, and right technology will continue to challenge gaming companies.
Predictive Analytics– Simply put, using data to give customers what they want. Data will never replace human interaction, but it is increasingly used to tailor promotions, emails, and websites, to increase customer engagement and ultimately revenue. In the online world, data is used to predict and offer slot machines and sports bets that customers are likely to be interested in. While in the retail world, player tracking systems are used to monitor the types of games they are playing, the shows they like, the restaurants they eat at, and the marketing promotions they take advantage of.
About our contributor
Eric Weiss is a seasoned regulator spending 30 years with the New Jersey Division of Gaming (DGE) Enforcement. In 2008, he became the Director of the DGE’s Slot Lab where he led the DGE’s efforts to streamline the approval process of gaming products and the regulation of casino technology. In 2013, he played a key role in the introduction of Internet gaming to New Jersey, as he was responsible for researching policy, approving Internet gaming systems, and the ongoing oversight of Internet gaming operations. In 2018, he became the DGE’s Chief of Staff where he was involved in a variety of initiatives including sports wagering. Eric is now the Vice President of Technical compliance at Odds On Compliance, a full service consulting and technology company established to make gaming compliance easy. Visit https://www.oddsoncompliance.com/