Wagers will soon be offered by books of Nevada race with respect to events that don’t end up actually taking place. Last month, virtual events related betting was made legal by the Gaming Commission and it also gave a nod to Olympics wagering. At present regulatory approval is being awaited by sports and race book operators with respect to technology so as to organize virtual races.
The proposal was being led by William Hill along with various other firms filing documents backing the idea. In the United Kingdom, it is presently legal.
Declining popularity of virtual events
Joe Asher, who is the CEO at William Hill United States was reported saying that virtual events would serve as ‘filler content’ while the actual horse races were going on. These events have lost their popularity over a period of time as a result of a declining fan base. There has also been the advent of more interesting forms of entertainment and gambling which have taken over in terms of popularity.
Technology for virtual events
The technology in question is very similar to what looks like live version of a video game race. It would have the names and odds for the tracks and horses. However, as opposed to how it happens in real life, an arbitrary number generator would determine the outcomes and the odds.
Asher added that each race is treated like a separate event. This would prevent bettors from seeing virtual horses move from one race to another.
Tony Alamo, Commission Chairman was full of enthusiasm with regards to launching virtual events. In an interview, he said that even though they might not be big source of revenue, they would enable operators to generate some earnings off the time in between the races.