The Growth of Virtual Sports in Lithuania

Fantasy or virtual sports are computer-produced graphics games such as table tennis, football, horse racing, off-road racing, go-karting, and so on. These games feel like the real deal, but a computer generates them. Over the past couple of years, virtual games have been gaining ground, particularly in Lithuania. 

In 2020, the estimated global return from the virtual sports industry was around $12 billion. Today, the figure is much larger, and it isn't going down. With virtual sports, even when some of the top leagues are not in season, punters can still place wagers on their favorite sports and get completely fair gameplay thanks to the advanced RNG algorithm. 

If you are curious and wondering why the virtual sports industry is rising, you've come to the right place. In this article, we’ll be elaborating on some of the reasons behind the growth of the virtual sports industry. 

Why Are Virtual Sports So Popular? 

For several years, fantasy sports were a section of online gambling platforms many punters weren’t interested in. But with the lockdown period when no sporting event took place, it started gaining ground as a viable market. Soon its popularity spread past the lockdown, and more Lithuanian punters are beginning to participate in virtual sports events in Lithuanian online casinos more than even the real deal. 

The growth of the virtual sports industry exploded in 2020. It's so widespread that even developers have caught on to the trend and are devising new and innovative ways to capitalize on the market. Below are some reasons virtual sports have gained so much ground in recent years. 

- Instant 

One of the reasons virtual sports are gaining ground is because they are instant compared to the real deal. Take football, for instance; a real football match will last 90 minutes. In contrast, virtual sports take about 20 minutes or less, depending on the online gambling platform you use. 

Because virtual sports are instant, users can start a game and get instant gratification from their wager. So, punters can quickly place multiple wagers within an hour and quickly get the result of their prediction. 

- Accessibility 

Another reason for the virtual sporting industry’s growth in Lithuania is its ease of access. Fans and bettors can access it on almost every sports gambling platform. This gambling section provides punters with a different level of entertainment other than real sports events. 

Punters can access these virtual sports any time of the day, find a session in play and join in. So, as long as punters have a working internet connection and a computer or smartphone, they can access their favorite virtual sports in no time. 

- Profitable 

A wide array of different virtual sports punters can take advantage of this. Unlike real sports events, punters can make more profit by placing bets on virtual sports within the same time frame it takes to complete a sports event. As such, it gives a whole new level of profitable opportunities for punters to make more money. 

For example, just as there are strategies you can use to win in Football Manager, there are strategies you can use to have an edge in any virtual sport. Also, because virtual sports are instant, punters can place more wagers in less time. Virtual sports also offer punters more options to wager their money on to make money. So, because it is a virtual sport, it does not limit the betting market. 

- Availability 

On average, you can expect up to ten football matches per week in the European league. Many of these matches are spread over the weekends and are often shown together. So, it makes it hard for punters to follow up and place wagers on their favorite matches. 

However, with virtual sports, you don't have to worry about missing out as their events are readily available. You don't have to wait until the weekend before you can wager and get the result; the games are there when you want to play them. 

- Ease of betting 

If not easier, betting on virtual sports is just as easy as betting on real sports. You can apply the same basic knowledge of how the betting process works in real-world sports works in virtual sports. As such, even if you are a newbie to virtual sports betting, you don’t have to worry much about learning how to place bets. 

You don't even need to worry about things like the names of the team in virtual sports and several other technicalities used in predicting real-world sports. Virtual sports are all about odds and basic statistics, and you can land some major profits in no time. 

What Does the Future Hold for Virtual Sports? 

The rise of the virtual sports betting industry has opened doors to diverse new markets. Thanks to the ease of online gaming, virtual sports are equally as easy to access. It doesn't matter whether you prefer to play on a desktop or mobile device; you can access virtual sports on all platforms. 

The future promises a lot of innovation and bigger market growth. And as time goes by, it’s expected that the revenue of the virtual sports industry will go up, and even more in the near future. Even many software developers are shifting their focus and investing in gambling virtual sports products. With high-quality football, tennis, basketball, and motor racing virtual sports in place at many online gambling platforms, it is expected that more sports will be introduced with new features. 

Conclusion 

Overall, while the virtual sports industry is on the rise, we don't expect it to overtake regular sports betting. Rather, the two will become an integral vertical for the sports betting industry. However, the virtual industry will continue to improve in Lithuania, and punters can expect to see several new innovations.