Virtual sports in-play market set to grow
The CEO of Golden Race forecasts the intensive growth of the virtual sports betting market.
The CEO of online gaming & sports betting software supplier, Martin Wachter, believes that the absence of live sports events caused by the coronavirus outbreak allows virtual sports the opportunity to become familiar to many people around the globe.
Talking about the current pandemic issue during the Betting In Face online conference, Wachter said: “Our virtual basketball game will be released in the UK in a couple of weeks and the beauty with it is it will be the first virtual game we offer with in-play betting, which will be available after nine minutes.
“I see a big growth in the virtual sports in-play market and believe it can offer markets not available at the moment in live sports” added Golden Race CEO.
Martin stated that they have faced with significant sign-up increment caused by the massive lockdown. There are more than 100 operators sign up in this period what makes Wachter believe they can easily reach 200. Moreover, Martin said that once people get used to the games and all will come back to normal virtual sports should continue to grow after the outbreak.
The CEO reinforced the importance of virtual sports, stating 79% of Golden Race’s gross gaming revenue in 2019 came from virtual football, explaining the key to virtual sports is treating it like a normal sportsbook.
He added: “Players are free to choose their favourite leagues, such as the English Premier League, and build up their play across different leagues, as you would do at a sportsbook. The key to virtual sports is treating it like a sportsbook, by changing margins and using real odds, and also understanding the market like you would with real sports.
Due to coronavirus spread, Golden Rose had to close more than half of its retail shops. There were more than 50.000 in total before the pandemic was announced.
Despite this fact, Martin Wachter keeps positive and forecasts a development of virtual sports betting market. He also gets many positive reviews from people who has a positive virtual sports experience.
“Our players say it’s like playing real sports, not a pure RNG (random number generator) game as players can check team and player stats.”