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AI vs. Manual data collection in iGaming: which is more effective?

— Pavle Sarcevic

Data is the lifeblood of the iGaming industry. Whether you’re tracking competitors, analyzing player behavior, or monitoring market trends, the way you collect and process this data can make or break your strategy. But what’s the best approach—manual data collection or AI-driven methods?

In this article, we’ll explore the advantages and limitations of both manual and AI-powered data collection methods, with a specific focus on how Blask, an AI-powered analytics platform, can revolutionize the way iGaming companies manage their data and make informed decisions.

The challenges of Manual data collection

Manual data collection has long been the standard in the iGaming industry. Companies often use tools like Google Trends, Google Keyword Planner, and even regulatory reports to gather information about competitors, market trends, and user behavior.

However, the manual approach is fraught with challenges:

  • Labor-intensive:
    Manually collecting data takes a significant amount of time and manpower. Compiling reports, analyzing trends, and tracking competitors can take days, if not weeks.
  • Error-prone:
    Human error is a significant risk in manual data collection. Incorrect data entry, missed trends, and misinterpretations can lead to faulty conclusions.
  • Limited scope:
    Tracking multiple brands across several regions is nearly impossible to do effectively without automated tools. Manual data collection simply can’t scale to meet the demands of today’s global iGaming market.

Here’s a quick comparison of manual vs. AI-driven data collection:

Feature

Manual Data Collection

AI-Powered Data Collection (Blask)

Time Efficiency

Slow, time-consuming; often requires weeks for comprehensive reports

Real-time updates, data collected and processed within 1 hour

Accuracy

Prone to human error, especially with large datasets

AI models provide up to 95% accuracy​

Data Scope

Limited by human capacity; difficult to cover multiple brands or regions

Covers multiple regions, brands, and competitors simultaneously

Predictive Capabilities

Lacks the ability to predict future trends or market changes

Predicts emerging trends and market dynamics before they occur​

Customization

Requires manual adjustment for specific needs and custom reports

Dashboards with real-time insights

Cost

Expensive in terms of human labor and time

More cost-effective, especially for long-term strategy

Why AI-powered data collection wins

AI-powered data collection, like what Blask offers, removes the time, complexity, and error-prone nature of manual methods. Let’s dive deeper into how AI makes data collection more effective.

1. Real-time data collection

Unlike manual methods that require days or weeks to compile reports, AI-driven platforms like Blask offer real-time insights. Blask continuously collects data from various sources, including public search data and competitor analysis, and updates market trends every hour​​. This means that iGaming operators can respond to changes as they happen, giving them a competitive edge.

💡
Example: Market volume fluctuations

Blask Index metric tracks real-time market volume changes by analyzing search trends, providing iGaming companies with up-to-date insights into brand performance. For instance, a sudden spike in search volume for a competitor could indicate an aggressive marketing campaign, allowing you to adjust your strategy accordingly​.

Read more: What is Blask Index and how it quantifies the iGaming industry

2. Precision and accuracy

Manual data collection is prone to inaccuracies, especially when analyzing complex metrics like Gross Gaming Revenue (GGR) or First-Time Deposits (FTD). Blask’s AI model takes these factors into account, providing accurate estimated First-Time Deposits (eFTD) and estimated Gross Gaming Revenue (eGGR)​​. The AI models have been fine-tuned to offer up to 95% accuracy, significantly reducing the risk of human error​.

Example: First-Time Deposits (FTD) vs. Gross Gaming Revenue (GGR)

Consider the example of two iGaming brands—Brand A and Brand B—competing in the same region. Blask’s AI tool calculates the eFTD and eGGR for both brands, allowing you to compare their performances directly.

Brand

Estimated First-Time Deposits (eFTD)

Estimated Gross Gaming Revenue (eGGR)

Brand A

5,300 new deposits in July 2023​

$27,000​

Brand B

7,500 new deposits in July 2023

$30,000​

In this example, Brand B appears to outperform Brand A in both new player acquisitions and total gaming revenue. Blask’s tool allows you to track this over time and optimize your strategy accordingly.

3. Comprehensive market coverage

AI doesn’t just provide data on your brand—it covers the entire market. Tools like Blask’s Relative Market Share metric allow you to see how your brand compares to competitors on a global scale​. This type of analysis is invaluable for making strategic decisions about entering new markets or adjusting your product offerings to better align with market demand.

Blask Relative Market Share
Example: Comparing market share by country

Blask allows you to compare market share in different regions. For instance, you can track how your brand performs in India versus Nigeria using the Blask Index and market share metrics.

Country

Blask Index (Market Volume)

Relative Market Share

India

2x compared to Nigeria​

15% of total market volume

Nigeria

1x

10% of total market volume

In this case, while your brand might be a "prince" in India, commanding a 15% share, it could be a "peasant" in Nigeria, highlighting the need for region-specific strategies.

Blask Index for countries

4. Predictive analytics

One of AI’s biggest advantages over manual data collection is its ability to forecast future trends. Blask’s AI models analyze historical data to predict future YoY (Year-over-Year) and MoM (Month-over-Month) growth​. This allows you to spot emerging trends early, adjust your marketing strategies, and stay ahead of the competition.

Metric

YoY Growth (2022-2023)

MoM Growth (July-August 2023)

Player Acquisition

15%

8%

Player Retention

12%

5%

GGR

18%

7%

These growth metrics allow you to track whether your acquisition and retention efforts are yielding positive results, giving you the insight to fine-tune your strategies.

5. Enhanced decision-making

AI-driven platforms like Blask provide data in a way that is easily digestible, allowing operators to make quick and informed decisions. For example, Blask’s customizable dashboards allow you to visualize your brand’s performance across multiple regions, brands, and metrics all in one place​.

Blask’s key AI-powered tools for iGaming

Blask’s suite of tools offers iGaming companies the ability to track essential metrics in real-time, including:

  • Blask Index:
    Tracks market volume and brand share across different regions​.
  • eFTD (Estimated First-Time Deposits):
    Predicts first-time deposits for brands​.
  • eGGR (Estimated Gross Gaming Revenue):
    Provides monthly GGR estimates in USD​.
  • Relative Market Share:
    Compares your brand’s market share against competitors​.
  • YoY and MoM Growth:
    Tracks year-over-year and month-over-month growth to help forecast trends​.

Conclusion: AI takes the crown

While manual data collection has its place, it simply can’t compete with the speed, accuracy, and predictive capabilities of AI. In the rapidly changing world of iGaming, staying ahead of competitors requires more than just hard work—it requires smart work. AI-driven platforms like Blask offer the tools you need to make data-driven decisions that will keep your brand ahead of the curve.

Want to stay ahead in the iGaming world? Sign up for Blask today and take the first step toward transforming your data strategy!