At a time when major sporting events have been halted due to the industry response to the Corona virus pandemic, betting firms are looking for alternatives to the standard forms of betting to mitigate the impact of Corona virus shutdowns on global business. As business models and betting forums come under scrutiny, are virtual sports a viable replacement for real sports? Whether we are discussing eSports tournaments or virtual horse (dog) racing, betting on virtual sports raises some question marks, like, what are virtual sports?
The ABC’s of Virtual Sports
Virtual sports are computer generated games based on real sports like horse racing or basketball. These games use complex algorithms to simulate a realistic replication of a sports match. The technology used offers extremely real looking graphics that can be difficult to distinguish from a live match. The algorithms and back-end technology assure that the matches are fair and the outcomes are random. Some of the most popular virtual sports for betting include:
- Virtual horse racing
- Virtual basketball
- Virtual soccer
- Virtual tennis
- Virtual football
- Virtual cycling
Is Betting on Virtual Sports Even Legal?
You bet that betting on virtual sports is legal, but it depends on the type of sports book you use. To be on the safe side, make sure you are betting with larger betting firms that are in compliance with their local laws and hold all of the correct licenses for your market in order to avoid any potential fines.
The Future of Sports Betting
As technology evolves and circumstances like the Corona virus keep people and sports players confined to their homes, virtual sports betting will become more popular among gamblers and will be an alternative source of revenue for industry players. Because virtual sports can operate continuously off of a server, balancing the business side with the human side will be a challenge that operators will need to address in a socially responsible way and in line with corporate responsible gaming policies.