January 15th, 2016
Betfair, the world's largest online sports betting exchange, has recently added another string to its bow in the form of Virtual Sports. Announced at the start of 2016, Betfair's latest product release is powered by Inspired Gaming, and will allow punters to speculate on more than 3,300 new bets each day.
The suite of new betting options will run alongside Betfair's existing sportsbook and betting exchange, and will provide a more immediate source of entertainment for customers.
Virtual sports betting has grown popular among seasoned bettors in recent years, as it offers a convenient way to ante-up between traditional sporting events.
The premise behind virtual betting is simple and almost identical to traditional sports betting; customers must place a bet on a virtual sporting event using a list of competitors and odds before the action starts. The only difference between virtual sports betting and live sports betting is that the outcome in the former is determined by a random number generator and the competitors are depicted by virtual characters.
Despite the fictional setting of virtual sports, the fact that it's a 24-hour service has made it popular among online betting fans. Much like online poker or casino games that run throughout the day, virtual sports aren't bound by the same time constraints as real events.
To meet the increasing demand for virtual sports, Betfair, in partnership with London-based Inspired Gaming, will now run seven titles on its online and mobile platforms. Thanks to a series of negotiations before Christmas, Betfair was able to successfully launch the following games during the first week of January:
Commenting on the new deal, Inspired Gaming's Chief Commercial Officer for digital games, Steve Rogers, expressed his excitement at securing another high-profile partnership: "Virtual sports have become a proven and increasingly popular category of sports betting, so we are thrilled that Betfair have now got in on the action too."
Since launching in 2001, Inspired Gaming has built up a large portfolio of virtual sports and video lottery games, which has given it leverage to forge partnerships with a host of leading operators over the last couple of years.
Among the list of operators now offering virtual sports through the Inspired Network is William Hill which, in addition to offering online services, also streams virtual video feeds across its network of 2,300 UK betting shops. Running throughout the day (as well as between 5pm and 10pm each night on William Hill's mobile TV service), the virtual broadcasts have become extremely popular with betting shop patrons since going live in June 2015.
Though Betfair doesn't have the facilities to offer TV broadcasts of its virtual sports, its "on demand" nature and affordable betting limits (customers can play from as little as £0.01) should help secure the betting giant's position at the top of Europe's sports betting tree.
To check out Betfair's virtual sports betting options, visit Betfair Sports today!