The metaverse has proven to be a forward-thinking concept for many different industries, as institutional investors and media headlines have communicated the current and future potential of Web3 technology. 

Virtual sports have also been on the rise, thanks to the constant advancements in technology and branding. 

This sets virtual sports apart from, say, a title like FIFA or NBA2K. The gameplay and graphics are, and will continue to be, cutting edge. Thus, it creates a realistic experience for both those playing and those spectating. 

The idea of betting on virtual sports has only grown, with many real-world betting companies allowing bettors to bet on odds for their favourite sports. 

How can virtual sports betting flourish within the metaverse?

So far, the metaverse has been able to develop many industries from what they were before its recent arrival and has even allowed many more to be born into mainstream hits. 

Now, let's look at how virtual sports betting could be going in that same direction.

The statistics

According to McKinsey, a global management consulting firm, in 2022 alone, the metaverse had $120 billion pumped into it by investors. 

On a worldwide scale, the sports betting industry is currently valued at $195 billion and is increasing every year. 

Put these two industries together, and there is a lot of potential for ground-breaking results!

Experiencing the metaverse 

One thing that the metaverse has been able to do since its inception is revolutionising the way people experience video games and socialise with one another. 

By removing traditional screen-based gameplay in favour of the more recent VR headset, virtual sports betting within the metaverse will create a whole new dynamic for those getting involved. 

The gaming, arts, and software development communities have become even more interconnected via the metaverse thanks to the incorporation of the VR headset. 

Revolutionising sports betting

Bettable sports experiences can be found all over the world, with many of them being held at the same time as each other. 

When this comes to light, it becomes evident that not all of the events can be watched due to the lack of live streams that are available, resulting in spectators relying on static images and news reports. 

The use of cutting-edge technology allows you to immerse yourself in a realistic experience from the beginning.

Is it fairer than real sports betting?

Over the past few years, there have been many headlines in the news pointing towards unfair play by a number of athletes. 

Whether it’s Maradona’s infamous "Hand of God" or unfair play from athletes at the Olympic Games, real-life sports have had their fair share of unfair play from those who are taking part in the action. 

Virtual sports eliminate the possibility of unfair play, making the overall betting experience more fair for those taking part. 

Random number generators are what decides the outcome. Betting companies, and also the player, have no say in the outcome of the event. 

The potential is great for virtual sports betting within the metaverse. It's easy to see how the combination of the metaverse and virtual sports can create a more immersive experience for those looking to bet on sports. With the realism that virtual sports bring, combined with the ability to bet in a virtual setting, it's no wonder that this genre is on the rise.

Looking ahead, it'll be interesting to see how developers, such as ZED Run and BetU, continue to push the envelope in terms of realism and overall gameplay. This will likely result in even more people getting involved in betting on virtual sports. It'll also be interesting to see if any real-world betting companies make a move into the virtual space, and how that would change things.

All in all, it's clear that the metaverse and virtual sports are set to have a bright future. As always, it is recommended you do your due diligence on these topics due to the potential financial implications you could face. Remember to always bet responsibly and safely. 

Disclaimer: Play responsibly. Players must be over 18. For help visit https://www.gamcare.org.uk/. 

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