Generally speaking, sports betting traditionally involves bettors that wager over an outcome of a rather long sports event. However, with the advent of the technological uprising, innovations surface from developers and service providers bringing you closer to the future of sports betting.
What are Virtual Sports?
Virtual sports are simulation counterparts of real-life sporting events that we usually see every day. These sports are a combination of fantasy sports and real sporting events and have a strong resemblance to casino games. Having that said, the player in these virtual sports have their real-world equivalents which imply that the crowd favorite in the virtual sports would most likely be the crowd favorite in the actual real-life match. However, the victor of a particular match in the virtual sports does not depend on the player but rather, on the Random Number Generator (RNG) with all other algorithms encrypted in the system to generate random results.
Considered as a betting game, virtual sports can be categorized between sports and casino games, and because of that, it combines both video gaming enthusiasts and casino audiences creating a strong influence on traditional sports bettors to join in and add to the growing global community of gamblers.
With this innovative combination of sports and gambling, the industry is forced to create innovations to be able to keep up with the competition. For instance, the Asia Pacific is considered as the largest market for gambling which accounts for 38% of the global total in 2020, and countries in the said region have devised various modifications such as singapore online casino.
Virtual Sports Betting vs Actual Sports Betting
Although these two sports betting variants have a commonality with the fact that bettors playing the game wager with the outcome of the game, these two also have their differences that strongly draw the line between Virtual and actual sports betting.
Betting opportunities
People who participate in virtual sports betting have a wider range of batting opportunities as compared to the people who participate in traditional sports betting. This is because, in virtual sports betting, bookmakers constantly search and offer more betting opportunities from different markets to new games that are included in their final offer.
Availability
Unlike traditional sports betting that is played during a specific period, betting in virtual sports holds the dominant position as this offers sporting events that are around the clock. Virtual bettors can wager on virtual events any time, as they can choose from various events in the platform, depending on their availability. Furthermore, bettors find it convenient for them to wager over a game that is two to three minutes long rather than a full 90-minute game which seems to be a constraint for almost everyone.
Variance
Oftentimes, bettors transition from traditional sports betting to virtual sports betting solely because of the exemplary user experience. As these virtual betting platforms are created with the newest technology, including impeccable features and graphic designs, the players experience a new era of entertainment and online betting experience. This user experience is improved as the latest software platforms on the market managed to create an atmosphere to let the gamblers feel as if they are there. This is done by delivering additional commentaries and other things that are commonly done in an actual sports event.
Profitability
Unlike in real-life sports event which requires costs, virtuals sports betting does not require any of it. Rather, it offers great profitability to both the operators, as well as the gamblers. The online operators can easily attract broad arrays of audiences from eSports enthusiasts and casino players. The platform can be easily navigated by literally anyone while operators can simply supplement the players with tutorials and ideas about the betting platform. With this, a safe and fun environment will be established, and players can consider it as a potential new source of entertainment.
Susceptibility
Traditional sports betting events can be highly influenced by external factors. Apart from the idea that a specific game is internally influenced by the player’s performance, the game itself can be influenced by external factors like natural phenomena that could postpone or cancel the event. These influences cannot affect the operations of Virtual sports, making the event less susceptible to uncontrollable factors.
Regulations
Unlike traditional sports wagers that may sometimes slip from the regulations set by the law, virtual betting is firmly regulated by the law and can hardly be altered by entities that wish to scam the results of the matches. This makes the online betting platform, relatively safe for the ones using it.
Types of Sports Betting
The variety of bets vary from one betting platform to another. Generally, almost all software providers cater usual bets for any sports event:
- Moneyline bets – players wager for who will be the winning team of the game
- Prop bets – players wager for the player that makes the most points at the end of the game
- Over/Under bets – as the name suggests, the players wager for whose team will be over or under.
How Does Virtual Sports Betting Work?
In a normal sports bet, the people wager on a specific outcome based on a live match. These bets that people make in an actual sports betting event are based on the capacity of the actual players that play in the live match. Contrarily, virtual sports betting does not work the same. Although players still wager on the outcome of the game, virtual sports betting uses Random Number Generator which is the same technology as the modern slot machines use. Another feature of this new virtual sports betting is that the duration of matches is not shown entirely. rather, they show the highlights that lead to the final score of the game. After all, bettors bet to know the outcome of the game, not the gameplay itself.
Final Thoughts
Undeniably, virtual sports betting has brought us to higher ground. This new platform does not eliminate the traditional sports betting that we grew up with but rather, it adds up to your choices and leaves you to decide what to choose depending on your unique preferences.
