Can Casinos Offer Lessons About Protecting Privacy?

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Sept. 3 (Bloomberg) -- Adam Tanner, author of "What Stays in Vegas," explains how casinos use big data to lure customers. He speaks with Pimm Fox on "Taking Stock." (Source: Bloomberg)

Being here.

Thanks for having me.

The information gathered all over the world can be simplified by looking at what happens with las vegas and personal data.

I looked at las vegas and saw it was instructive in a number ways.

More people are married and las vegas than anywhere in the united states.

There are more video cameras watching in the casinos -- 3000, 4000, 5000 cameras -- than any other place in the united states.

They have targeted customer loyalty programs.

There are many different friends to look at -- fronts to look at how data is gathered and wide.

And caesars using data to make money.

Caesars has been the most sophisticated at gathering data on people on a voluntary basis.

If you choose to join their program, they will know everything about you.

Pretty much anything you do in the public spaces in the casino.

They will know to the penny, chu have spent.

They won't know what food you like.

They will know whether you like rod stewart or elton john.

That does not sound so terrible.

That does not sound nefarious at all.

No, not at all.

Dump oh but as you are -- but as i am sure you are aware, there has been a hue and cry about the leaking of security of photographs or information entered on line that has a resale value.

A life of its own.

The difference between the casino model and what a lot of us encounter doing daily basis -- doing daily interactions on the internet -- and the casino you have a choice.

If you want the rewards, you can enter the program.

They keep that data within vegas.

They do not trade that.

With many commercial transactions, the app store what they do with the data.

Who do they sell to?

That creates frustration.

And that is creating a big backlash against companies that are not open about that.

And whether it is legal or illegal in various jurisdictions, you can get your hands are pretty much any data that you want to pay for.

Data that is very intimate about most americans.

Unlike the nsa that is only interested in a select number of people, commercial data brokers are interested in pretty much every body.

Men who have erectile dysfunction, women who have bought porn, high school students who are gay.

They may want to sell a ticket to you because you like a certain music.

Often times you do not have a choice in the matter.

What does adamttanner when it comes to your information in the online world?

The whole concept of the book is to understand the world of online personal data and decide on your approach.

I look at each is an is and i think about, do i know what they are doing with my data?

Am i comfortable sharing my data?

And decide accordingly.

Are there certain industries that are better at this than others?

The retail industry -- whether it is home depot or target, there has been a breach of security.

They are working to find out what is stolen.

How do you know as a consumer what is or is not safe?

More sophisticated credit cards are not common in the united states.

What is that -- why is that?

They cost a dollar $.25 more -- it is just money?

And it takes time.

Maybe in the future we will not have credit cards.

We will have cell phones that do the trick.

We have been talking about the apple iphone 6, which perhaps will be debuted september 9. you have to take into account the iwallet feature, fingerprint it did vacation, near field communications where you can pay with your smartphone.

And are you comfortable with those companies having that data or do you want to have it yourself?

I think the companies that give you the most explanation in the long-term are going to win.

The customer frustration is around that.

Can the gaming companies in las vegas, can they tell who is going to be a winner?

They can tell what you want 2-d and what show you want to see, but can they use that -- what you want to eat and what show you want to see, but can they use that to determine whether you will when?

A note who will spend more money.

They know that you should have lost $403 by statistical laws.

And then they may come over and offer you a consolation steak dinner.

And that happens on a regular basis?

It is good business from their perspective.

If you have tickets to your favorite show, you will think this is the greatest place.

I am having a great time.

Are all the companies doing this?

You mentioned caesars.

Are all teaming companies doing this?

Increasingly they are trying to do this as much as they can.

The more information they can gain about us, the more they can

This text has been automatically generated. It may not be 100% accurate.

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