In this article, C.J Fisher partner of Gaming Practice Group discusses the role virtual sports could play in the future for the iGaming industry. Fisher concentrates his practice on all aspects of gaming law, including licensing, regulatory and compliance matters. He also said that compared to Europe and the rest of the world, the iGaming industry in the United States is at the beginning. The theory is further validated with the addition of New Jersey’s market, which has steadily matured since 2013. Most of the country is slowly catching on with Pennsylvania being the last that accepted the iGaming market in July 2019.
The slow pace of the casino market in the US it also slowed down the expansion and popularity of virtual sports in the country. However, with the increasing popularity of eSports, the iGaming industry is turning towards virtual games.
What Are Virtual Sports?
Virtual sports are computer-simulated sporting events that involve virtual athletes and teams, where the operator sets a line on the game, and players are watching the event. The difference between real-life sporting events and virtual ones is that real teams or athletes determine the outcome of a real one. Meanwhile, the virtual one has a random number generator (RNG), a component that is usually found in online slots and other virtual casino games. The parameters for the virtual event, team or athletes are set by the operator from historical statistics and data.
The supply provides the software of virtual sports provides that have taken this further step in also offering simulated reality sporting events, where the game mimics a real one as close as possible. These events feature incredibly detailed graphics and realistic athlete movements, which means that it is technological advanced. Virtual sports are also structurally similar to real-world events, where they feature real-world teams playing full-length matches on a pre-defined season or tournament that mimics the real-world schedule.
All About Virtuals
Naturally, virtual sports have great potential for the gaming industry. In short, virtual games can satisfy the demands of players for iGaming offerings that are lacked by the B&M casinos. In future, virtual sports can be a replacement for live sports. Virtual games can be offered for 24/7, 365 days a year, and there are endless varieties of sports. This means that it will arguably make virtual sports an attractive alternative to live games.
However, it is essential to remember that virtual sports are not considered sports betting; instead, because virtual sports depends on RNG, it will be treated like any other internet casino game. This distinction is vital for several reasons, like first of all, it is an iGaming product, and a provider of such product or software will be subject to different licensing requirements.
