ITECH 1100 - Understanding the Digital Revolution: IoT in Gambling

This report examines the impact of the Internet of Things (IoT) on the gambling industry. It defines IoT, outlining its role in connecting computing and mechanical devices, and explores its application in the gambling sector, including casinos and online platforms. The report details how IoT affects workers, managers, and the overall industry structure, drawing parallels to other sectors like cryptocurrency, emphasizing security and efficiency. It also discusses the potential of Big Data and other technologies to enhance IoT's impact, as well as addressing regulatory and ethical concerns, such as payment security and the disruption of traditional business models. The report includes a process model diagram for a smart casino and references to relevant research papers.

IMPACT OF
INTERNET OF
THINGS ON
GAMBLING
INDUSTRY

Short description of the technology:
The aim of the report is to focus on the
technology which is considered as the Internet
Of Things in this report.
The Internet Of Things can be defined as the
technology or the system that relates the
computing devices with the mechanical devices.
The interrelation can be defined as the relation
and the connection between the software and
computing devices, digital machines, animals as
well as humans which are customized with UIDs
(Da Xu, He & Li, 2014).

The UID is basically described as the Unique Identifiers,
which provides the technology with the possibility of
transmitting information via network devices without
human or computer-to-human interactions.
The IOT process for more convenient and simple activities
is carried out by different companies or industries that
make it simple and authentic to make decision-making and
service to consumers (Gubbi et al., 2013). The gambling
industry has also used the Internet Of Things technology to
achieve a greater level of business value in its operating
structures

Short description of the Industry:
The sector chosen for the evaluation of the latest
technology is the gambling sector. The gambling
industry is comprised of casinos, betting areas,
bingo halls, pools, playground machines and
lotteries (Lee, Chung & Bernhard, 2014). The
sector is experiencing an enormous increase in
popularity in online gambling and format

Impact of the technology on the people in
the industry:
The only places which rely on human labor in this industry are
the jobs and the duty structures, which can not be changed and
automated in the near future.
 These work structures are creativity, empathy and intuitive
behavior that are frequently seen in any type of organization in
the work system (Porkodi & Bhuvaneswari, 2014).
Workers and administrators in the organization are the
individuals most impacted by the application of the IOT in such
an sector. The IOT gives managers an opportunity to monitor
employees in an organization that exclusively deals with and
builds a company in cash.

Drawing parallels to other industries where
IOT have had impact
The similarity or parallel buildings, which are based
on the IOT, in both Crypto and Gambling sectors
usually assess the characteristics such as safety and
the ability to disrupt business models in multiple
sectors.
Both in the crypt and gambling sectors, the safety in
payment options and the security of the system that
is a decentralized system and creates scope for high
usability are the main attributes achieved by the
sector because of the implementation of the IOT.
The IOT contributes to greater transparency and
efficiency within the scheme.

Other technologies that might have a
stronger combined impact:
Technologies such as Big Data have greater
mixed impacts, such as IOT technology, or
may have greater joint effect. On average, the
globe produces 2.5 bytes per day.
Using the enormous collection of information
frequently shows more transparent
information that has the ability to change the
way the industry operates.

The information is collected and is essential
for both technology types.
 Both innovations have distinct
characteristics, but by mixing both the
technological differences the outcome of this
mixture can jointly improve the company
structure

Regulation and Ethics
One of the recognized gambling hazards can
be the risk that only tings related to online
games apps can be paid on the internet that
are easy for players but also have some
hazards. This is in violation of Lessig and
Lawrence's codes or architecture. In order to
transfer cash without understanding the
credits of the game's source and breaking the
technical limitation, internet payment is no
safe way. Economy or the market are also
being damaged

Disruption:
With the assistance of IOT technologies, the
internet application has been implemented. In
addition to the IOT technologies, with the advent of
gaming machines and the path in the gaming
industry has also altered within the organizations
(Liu et al., 2015). The Internet of Things concept is
intended to enable devices to communicate in their
broadest sense. This includes every piece of
machinery, sensors and software integrated. It
enables information collection and action through
the combination of sophisticated machinery and
automatic systems.

Process model diagram for casino

Process model diagrams for smart casino