Virtual Sports Betting Expanding into the US
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- Category: Gambling Industry
- Created: Monday, 20 March 2017 19:16
Virtual sports betting games has been in the European market for over a decade and in Africa, Virtual sports betting has begun to gain a foothold as a crowd favorite. This year, the United States will begin rolling out this new fun game that is a mix between a casino game and a sports betting game.
Several European based gambling companies will be bringing virtual sports betting to the US in hope that it performs even better in U.S. based casinos and sportsbooks.
Currently, virtual sports betting makes up for roughly 20% of the revenue of its betting shops and has a proven track record as a winner.
Even though virtual sports betting is considered a “filler” type of sports betting game because it allows people to bet on sports in–between sporting event and races.
Several casinos and sportsbooks have already made deals with virtual sports betting game providers and some have already begun to offer these games in their online casinos.
Pala Interactive, an online social and real money gaming software development company launched free-to-play virtual sports contests on their social casino platform earlier this year. Later this year, they intend to make available a real-money version in New Jersey.
For those who are new to virtual sports, it is a mix between sports betting, e-sports betting and a casino game. In simple terms, virtual sports betting games are a computer generated races and matches where the outcome of the game is generated by an algorithm in a non-biased way. Players are able to bet on the outcome of the game and like a casino slot machine, the win percentage can be set.
The advantage for a casino or a sportsbook to offer these games is that it allows sports fans to bet on sports without having to wait for a game to start as it generates its own matchups. Since virtual sports betting games are not based on actual real-world team or players, they are legal to bet on in the United States. In addition, since winning is based on random number generator like a slot machine, no new regulations are required.
The big question is whether there is a virtual sports market in the U.S. Many gambling experts say yes, virtual sports betting will do quite well. The only reason the United States is behind Europe is because of lack of venues.
Unlike Europe where they are thousands of betting shops, the U.S. only has a few locations like in Indian casinos, Las Vegas and Atlantic City where gambling is legal. An example as to why it would do well is that even in certain African countries with a much lower GDP then the US, virtual sports betting in Africa or paris sportif virtuel en Afrique as they say over there is profitable despite being a new way to gamble in Africa.
Once online casino gamblers and land-based gamblers have begun to get used to the concept of virtual sports, this new gambling method will thrive. Gamblers are always looking for something new and virtual sports betting could be it. Fantasy sports has exploded on the U.S. market which ties in directly with virtual sports betting.
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