Virtual sports are computer-generated sporting events based on real-life sporting events. This contrasts them from e-sports in which human players compete playing video games. Virtual sports can encompass anything from virtual football to cricket to horse racing. However, they are usually much shorter than their real-life counterparts.
Instead of being the outcome of a real game, virtual sports results are determined by a Random Number Generator (RNG). In this way, they are comparable to slot machines. However, instead of creating a single outcome from each game, the RNG throws out a range of outcomes. Based on these outcomes, the sportsbook offers realistic odds like in traditional sports betting.
Why Bet on Virtual Sports?
You may be wondering why anyone would choose to bet on virtual sports rather than physical sports that occur in the real world? One reason is time. A virtual sporting event takes a fraction of the time that a real one takes. Someone looking to place a bet can do so in a couple of minutes rather than having to wait an hour and a half for the outcome.
Another reason is availability. Real sports have seasons with a limited number of games, and often only one event per day. In contrast, virtual sports are always available to bet on, any time of the day or night. Plus, you can place your bets from your cellphone, wherever you are.
The Impact of COVID-19 on Sports Betting
The COVID-19 pandemic has had a negative impact on gambling industries worldwide. Particularly in 2020, sporting events ground to a halt. Global sporting events from the NBA to the English Premier League were canceled. And with them, traditional sports betting opportunities disappeared too.
Virtual sports betting was already popular before the pandemic. Due to the lack of opportunities for traditional sports betting, its popularity continues to rise. Sporting events are back on the table, but the pandemic is full of uncertainties. Virtual sports betting will always be an option even if real-life sporting events are canceled.
Virtual sports betting is in Nigeria to stay. Because it involves evaluating odds before placing a wager, it involves skill, therefore meeting the requirements of Nigeria’s betting laws. Most experts and tech-savvy sports bettors predict it will only rise in popularity.
The Future of Virtual Sports Betting
For a sports betting company to be successful, it must adapt its offerings based on locale. In Nigeria, football will always be the most popular sport to bet on. The other events provided, such as greyhound and horse racing, will be determined by regional popularity.
Virtual sports betting is especially popular among younger, tech-savvy bettors. It provides players with a way to enjoy betting while living a fast-paced lifestyle. It, therefore, comes as no surprise that experts see virtual sports betting becoming a thriving industry in the next few years.
What we can expect to see soon is Nigerian online betting operators including virtual sports betting as part of their offerings. Game developers may also start making virtual versions of real-life sports. This is just the beginning of the rise of virtual sports betting in Nigeria and Africa as a whole.