Interactive
VIRTUAL SPORTS BETBY
Standard market types, such as winner, forecast and place, are commonplace in virtual sports. How much scope is there for creativity in virtual markets? Is there demand out there for more market types?
If we look at the data, we will see that the lion’s share of turnover is done in the two or three main markets. As a general rule, we can say that virtual sports offer less markets than traditional ones, but we believe this will soon change as the vertical grows in popularity with innovation and this current climate, challenging though it may be, could push providers to think harder and innovate further.
How can technological advances, casino cross-selling and tailored content help operators get the most from virtual sports?
Conversion is the key with virtual sports now, and where all operators are focusing. Being able to convert players from one vertical to another is an important factor in increasing the lifetime value of a player. Having the relevant software which allows you to streamline the process, identify patterns and understand your client’s needs in depth is also very important. Imagine a casino player who enjoys quick gameplay – being able to tailor the cross-sell approach into virtual sporting events that also deliver quick results, such as game winners in tennis, would be a better approach than an outright bet on football where they have to wait a considerable time for a conclusion.
our portfolio, like a clever bonus engine, or client pattern recognition software based on data and machine learning, is important in tandem with the creativity and dedication of the wider support team. We pride ourselves on offering a full end-to-end sportsbook solution including promotion and bonusing management as well full sportsbook BI- support. Both have helped greatly with conversion.
Are there specific virtual sports that attract a new audience to gaming?
I believe this is subject to specific markets and their tastes. A Virtual Hockey league for instance will always attract a bigger audience in Canada than Greece, for example. Similarly, a virtual soccer event will appeal more to Greek customers than Canadians. It depends heavily on original market tastes.
What is key towards ensuring virtual sports remain a successful part of a modern sports betting portfolio?
I believe the key is to create a seamless gaming ecosystem where data and BI will assist operators to align their offering with the relevant group of customers. Netflix did something similar some time ago. All gaming verticals such as virtual sports, casino, live casino and sports betting may look different in first sight but if we actually look closer we will identify similarities across all verticals and we will be able to integrate them all together in one environment.
Can in-play virtual sports ever replicate the momentum that affects player performance in sports betting? Is a unique selling point of virtual sports that bettors do not require in- depth knowledge to place a bet?
No matter if we are talking about traditional or virtual sports betting, as a player you can bet a small amount of money and you can have some entertainment for a period of time. While of course there can be external factors that improve a bettors performance, such as a player’s momentum, that doesn’t exist in virtual sports, but the odds will still reflect the probability so bettors can still make informed decisions based on market price.
Te key is betting is for fun. No matter if we are talking about traditional or virtual sports betting, as a player you can bet a small amount of money and you can have some entertainment for a period of time. While of course there can be external factors that improve a bettors performance, such as a player’s momentum, that doesn’t exist in virtual sports, but the odds will still reflect the probability so bettors can still make informed decisions based on market price.
Is greater clarity required from regulators, particularly in emerging markets, to define the virtual sports betting marketplace?
Clearly, we are seeing steps taken during this direction, but further clarity would be optimal. Over the last decade the industry has changed a lot, from a quite unregulated environment to the increasingly regulated markets all over the world we have today. More and more jurisdictions are following this trend and I think we all agree that a clearly regulated environment is necessary if we want to elevate our industry.
What are the potential future applications for virtual sports? How do you see virtual sports developing in the future?
If I had to take a bet, I would say that soon enough several traditional sports federations will create their own Virtual leagues. We are slowly seeing this in football and basketball, with professional sports teams signing up players and entire teams to represent them in esports, so it could be the next logical step. Obviously, this will give an extra boost to the virtual sports industry, especially if it gets partnered by innovative software, both in terms of game mechanics, UI/UX and risk management.
NEWSWIRE / INTERACTIVE / MARKET DATA P87
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