Virtual sports are now commonplace in almost every online casino website. They attract a number of players from all over the world.
A look into Virtual Sports in today’s world
Primarily built to bridge the time gap between real-world sporting events, virtual sports are highly popular since you can play & bet on sports tournaments 24×7. They have become an essential component of almost every online casino and sports betting website.
In 2018, this field generated over 20% of all online and OTC revenues for bookmakers. In European countries, virtual sports have been able to gain a strong foothold. They are also expanding at a rapid pace in markets like Africa, where the citizens are ardent football fans. Horse racing and virtual football are the top virtual sports played by punters.
Coming to the numbers, around 15% of all sports bets around the world get placed on virtual sporting events. The numbers vary between countries and are dependent on the betting market regulations and size in real life. For instance, this percentage happens to be slightly lower in England since the people there prefer live horse racing and football. However, the number goes as high as 20% in Italy.
Countries with strict betting regulations tend to push people into the arms of virtual sports. Additionally, wagering on virtual sports is growing at a much faster rate compared to betting on real sports.
The future of Virtual Sports
Leading industry experts strongly believe that new virtual sports are bound to improve further thanks to tech advancements, which bring with them realistic and high-quality graphics, thus creating an unmatched player experience. Therefore, as technologies become better, virtual sports are only going to improve further.
As a result, virtual sports companies are getting more inventive and creating new sports disciplines. They are offering a number of games to bet on for players and creating new game ideas. We will also witness the creation of completely new betting markets too. For example, providers are also looking to design winter sports-based games for attracting audiences from regions like Scandinavia.
The industry is also expected to provide new betting avenues. In-play betting, which allows you to place bets up until the event has concluded is likely to be launched at a greater level in the future, which could take one’s virtual betting appetite to a whole new level.
Virtual sports may also display contextual elements. For instance, competitions are now being introduced in virtual football on a completely massive scale compared to the previous version, where only random games would be played. Going ahead, you’ll be able to analyze and gather historical data in real-time and predict various future outcomes easily.
Apart from this, VR tech is also expected to be developed on a whole new scale. It is improving slowly with each passing day and providing increased opportunities for participants to leverage this technology for more gains.
Since virtual sports provide a number of advantages like flexibility and freedom, this industry still has a lot of growth left in it. However, it is unlikely that real-life sporting ventures will ever overtake virtual sports ventures since virtual betting is always likely to remain as a supplement to real-world betting.