Virtual sports began as a concept in the 1960s, with the advent of early computer simulation games like “Spacewar!” in 1962. The betting platform 1xBet also features a wide range of virtual sports where you can wager.
However, the true genesis of virtual sports can be traced to the late 1990s. Here, improvements in computer graphics and processing power allowed for the creation of more lifelike simulations. By the early 2000s, companies like Inspired Gaming Group began developing virtual sports to be used for betting purposes. The 1xBet betting platform has a great section where nice virtual sports wagers can be placed.
The first virtual horse races were created using pre-programmed outcomes and highly realistic animations, revolutionizing the gambling industry.
Growth and popularity
As technology advanced, so did the appeal of virtual sports. In 2019, the global virtual sports betting market was valued at around $5.4 billion. The 2020s accelerated this growth, with real-life sports leagues halting and virtual sports becoming a primary entertainment and betting option. Feel free to visit the website 1xbet.ug/casino – play best online casino while waiting for great virtual sports events.
According to a report by Grand View Research, the virtual sports betting market is expected to grow at a compound annual growth rate (CAGR) of 14.2% from 2020 to 2027. By the way, some of the most popular virtual sports are:
- football;
- basketball;
- and horse racing.
All of them are featured at the 1xBet platform, where playing at the best online casino is also a great idea too.
Key features and future prospects
Virtual sports offer a range of benefits, including the ability to create a game that lasts only a few minutes. There is also constant availability (24/7), and also, they are unaffected by real-world events like weather or player injuries. For those reasons, placing a fast bet on virtual sports at the 1xBet platform can definitely be a great idea.
This predictability and convenience attract both casual fans and gamblers. By 2023, virtual sports accounted for approximately 18% of all sports betting revenue worldwide. It is likely that some advancements in aspects like improved graphics will likely propel the industry even further. There are many fast bets on plenty of virtual sports at the 1xBet website, where you can also win some great prizes while making them.
Some experts predict that by 2027, the market value could reach nearly $20 billion. This can be driven by more interactive experiences and the fusion of virtual reality (VR) with traditional sports gaming.
Disclaimer:
1XBET is regulated by the Lotteries and Gaming Regulatory Board. Betting is addictive and can be psychologically harmful
25+