Updated March 20, 2024By Chris Boline
For casino owners, a new predictive gaming technology might make it a lot easier to see which customers have the most cumulative value over time, at least per one company. In a recently published report, Aces, a leading gaming manufacturer based in Las Vegas, has developed a new technology to assist casinos in better determining the true value of players enrolled in their loyalty program. Casinos in the U.S. spend more than $25 billion a year in marketing to slot players. Acres Manufacturing believes its new customer rating product called “Player Budget” can help casinos better allocate the incentives based on more in-depth customer intelligence data.
For this article, SBS will be going over the latest gaming news coming out of Las Vegas and also even more notes and information about Sin City gaming updates.
Acres says these models can predict player’s budgets
As noted in the same article, Acres says its Player Budget deviates from using “theoretical” rating systems – those that try to predict a player’s budget and willingness to lose – with a program that identifies an individual’s betting habits and spending limits. The Player budget, which can be incorporated into Acres’ proprietary Foundation hardware that tracks each slot machine’s performance, determines each player’s largest in-session loss and assigns that person a personal spending threshold.
“Casinos waste untold billions each year through inefficient marketing offers, simply because they can’t accurately identify a player’s value,” Noah Acres, one of the key figures at the company said. “We are proud to introduce yet another innovative solution that will help deliver new players and new profits for our operator customers.”
The program, Acres says, allows casino markets to customize incentives based on precise profit potential.
New program allows casinos more efficient marketing
As noted in the same report, Acres said the goal of the Player Budget service is to improve a casino’s ability to calculate which players are more valuable for retention. Theoretical rating processes typically assign a player’s value based on their overall losses. However, Acres says two players who both lose $100 on a slot machine during a session can be vastly different in terms of their worth to the house. For instance, player A inserts $100 and wins a few spins before eventually losing their bankroll. Acres says that player B is considered less valuable than player B, who quickly loses their initial $100 and then inserts $700 to keep playing. Player B recoups his original loss and continues to play and at the end of the session, they’re back down $100.
“Player B has a demonstrated ability to spend eight times more than Player A, and the casino marketing team should therefore prioritize return visits from Player B over Player A,” Acres’ whitepaper on the Player Budget explains. Acres says some loyalty marketing schemes have become counter-productive. Marketing teams, the company says, should be focused on incentivizing, not rewarding, players for their loyalty.
New development could revolutionize casino marketing
As laid in the recent report, the Acres whitepaper explained more about how this new technology will help casinos. “Casinos have great difficulty refining marketing offers to maximize profit because their entire system is built on rewards (which are entitlements) for play play rather than incentives for new play,” the whitepaper continued. “Players know that rewards are determined by coin-in, and a quick Google search shows a host of websites, books, and videos, instructing players on how to maximize rewards while minimizing spend.”
One common trick, per the article, is for a slot player to remove their loyalty card when the slot game enters a bonus round. Removing the card inflates the person’s spend, as the bonus money isn’t counted against the player’s overall bets. While some floor management systems can now continue to track the rewards number when it’s quickly removed, many legacy operations cannot.
Along with improving how marketers might incentivize valuable loyalty players, Acres’ Player Budget has tools to help curb problem gambling. The Player Budget can detect impulsive behavior in real-time, allowing casinos to intervene. The impulsive trigger is based on a player’s historical metrics. If the person suddenly begins betting more during a visit, a welfare check can be initiated. This is of course a fascinating development given the fact that many casinos while saying they are looking out for the best interests of their customers, do not normally have an objective way of doing so. With this new technology, companies can now tout that they are helping their customers gamble responsibly and add another tool to the responsible gaming arsenal for companies.
Even more notes and info regarding Vegas betting news
After you are all dialed in regarding the latest news and notes coming from Sin City, make sure to tap into all the fantastic information that is laid out for you only at SBS. Of course, for even more info on the topic at hand, the online Vegas sportsbooks guide has you covered with all of the latest Las Vegas gaming news and updates. Of course, for those on the go, a must-read resource is the best betting apps breakdown which goes over all the perks of mobile betting and how you can always stay on top of the action. Finally, for those who are interested in diversifying your deposit and withdrawal options, look no further than the payment methods rundown. Here you can learn more about a variety of payment options from cryptocurrencies to more traditional banking routes.
About the Author
Chris Boline
As a devout aficionado of sports, Chris Boline has carved a career within the athletic realm. A skilled scribe, he boasts a decade-long portfolio that encompasses coverage of the NBA G League, the Los Angeles Chargers, football in the Mountain West Conference, and basketball.
Beyond his professional pursuits, Chris is deeply invested in his community and dedicates his leisure hours to serving on boards, collaborating with community organizations, and cherishing the company of loved ones.
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