Sports betting is one of the biggest industries in the gambling sector, where experts predict that the total value wagered could go up to $140 billion by 2028. However, this does not take into account all the different betting markets that are born from classic sports. Traditionally, Virtual Sports involve real matches between athletes or teams that take place somewhere in the world. People cheer for their favorite teams or athletes and possibly make a bet on the outcome of the game.
In the past couple of years, we’ve seen an appearance of a new segment in sports betting that is called Virtual Sports. Thanks to technology, big software developers and casinos can now organize Virtual Sporting events that don’t involve real athletes, but people can still bet on the outcome.
But this goes against the main objective of sports, which is a competition to be the best, whereas Virtual Sports betting is an algorithm determining the winner based on calculation. Virtual Sports are getting more and more popular, but do they oppose danger to Actual Real sports?
What are Virtual Sports?
Virtual Sports is a computer simulation based on real-world sports, where instead of real athletes, digital players compete with each other. Virtual Sports are based on a similar system like Slots and backed up by RNG (random number generator) which decides which team will win the match. You can find them among a variety of casino games on 1GoodBet if you want to give it a try.
Benefits of Virtual Sports
Compared to real-world sporting events, Virtual Sports make the betting process more available for bettors. Instead of waiting for a match to happen, the simulations in virtual sports run 24/7 and last for a couple of minutes.
This enables bettors to make bets whenever they like without waiting for the real-world event.
This means that there are no limitations on how many matches or sports can be played at any given moment. Additionally, with all the technological improvements, game developers can now create life-like simulations where it is hard to notice the difference between real and virtual sporting events.
Flaws of Virtual Sports
Even though virtual sports are becoming more popular; It seems like they are running away from the main point of sports, which is watching the game for the experience. Virtual Sports cannot provide the same thrills found in the real-world event and a match is not experienced on the same level.
Additionally, there is no data to back up your betting decision. Since the outcome between matches in virtual sports is decided by the algorithm. Your only advantage from sports betting (data analysis) is removed and there isn’t a way to improve your winning chances.
What Does the Future Look Like for Virtual Sports?
Since we are talking about a relatively new segment. It is fair to say that we are at the beginning of a new change; That might turn out to be a big thing. Virtual sports at the moment are very limited through their number of games, graphics, licenses, and more.
The idea of virtual sports sounds good; But it still has a long way to go in order to be able to face real-world sports betting.
With that said, the future of virtual sports looks bright. With many people accepting this form of betting, we expect bigger game developing companies; To join the movement and release more realistic simulations.
Games should also be connected to read-world teams which means obtaining licenses and rights for the content and; That is a battle that can last for a very long time.
At this time, virtual sports should not be considered a danger to actual sports since the process is far from perfect. However, with all the fast-paced technological advancements; Virtual sports might get a piece of the real-world sports market and disrupt the entire industry.
It is also possible to see real-world teams joining this movement, but that is far away in the future. As of now, bettors can enjoy the experience of betting with virtual sports, without providing too many thrills; Emotions, and satisfaction, which is the whole idea of sports.