Virtual sports have become an essential part of the sports betting industry today. Virtual sports games attract many players and are a great addition to any online casino. Slotegrator suggests looking into the virtual sports potential and the industry’s future.
Virtual sports today
Virtual sports were mainly introduced to fill the time between real-life actual sports events, as virtual sports allow playing and betting on tournaments outcome 24/7. Today, they are a necessary component of the sports betting and online casino sphere.
In 2018, virtual sports accounted for around a fifth of over-the-counter and online revenues within bookmakers. Virtual sports have become popular in Europe, but they also keep expanding in different markets, such as Africa as its citizens are known to be football lovers. Today, virtual football and horse racing are the most popular virtual sports types among punters.
As for the exact numbers, over 15% of sports bets made globally are made on virtual sports products. These numbers differ from country to country and depend on the actual sports betting market size and regulations. For example, in England, the percentage is slightly lower as betting on live football and horse racing is dominating, while in Italy, the number reaches around 20%.
Virtual sports are extremely popular in countries where the real sports betting is strictly regulated. More than that, the adoption of virtual sports wagering grows faster every year compared to real sports betting.
Do not miss: Popular Virtual Sports for Betting
Virtual sports future
Many industry experts agree that virtual sports will improve with technological advances, as high-quality and realistic graphics play an essential role in creating a real life-like experience for players. Therefore, the better technologies will become, the more virtual sports will improve.
Then, virtual sports providers are expected to be more inventive when it comes to the creation of new disciplines offers. It is important to create more game ideas and offer a wide range of games to players. Also, in the future, we are going to see the introduction of new betting markets as well. For instance, apart from traditional virtual sports, more providers will create winter sports games as well to attract more audiences from such areas as Scandinavia.
Apart from that, new innovations in the industry are expected to come, and one of them is the in-play betting that allows making bets after an event has started and up to its conclusion. According to many betting specialists, this will lead to a new level in the virtual betting experience.
The other innovation refers to the addition of contextual elements to virtual sports. For example, we start noticing the introduction of big competitions in Virtual football instead of just a series of random games. In the future, that will allow gathering and analyzing data from previous competitions in order to predict future outcomes based on it.
More than that, another interesting phenomenon to take into account is the development of virtual reality technology. It keeps improving step by step, providing more opportunities for virtual sports providers to develop their applications taking advantage of this technology.
In general, as virtual sports possess such great advantages as freedom and flexibility, the industry will keep expanding in the future. However, virtual sports revenues are unlikely to supersede real sports revenues as virtuals will probably always stay a supplementary product to real sports betting.