Virtual Sports Betting Products Now Available in New Jersey
New Jersey sports betting enthusiasts who can’t wait for the Supreme Court to make up its mind about regulated sports betting now have an alternative – virtual sports betting. Late last week, PlaySugarHouse.com launched a suite of virtual sports betting products that include horse and greyhound racing; soccer; and motorsports that are available to the New Jersey online gaming market.
Virtual sports betting offers simulated electronic sporting events with outcomes that are predetermined by algorithms. Bettors are presented with statistics and other information about the electronic teams and animals in the events that can be used to make their wagers. Despite this tip of the hat to sports information, virtual sports betting is much more like slot machines than traditional sports betting.
That said, virtual sports betting products are proving to be very popular in Europe, where they generate about a third of the revenue that traditional sports betting generates.
In a statement to the media on PR Newswire, Richard Schwartz, President of Rush Street Interactive (which operates PlaySugarHouse.com), described the value he thinks virtual sports betting will bring to the New Jersey gambling market saying:
We are excited to lead the way in bringing online Virtual Sportsbetting to the United States with our debut in New Jersey. Adding Inspired’s Virtual Sportsbetting events to our mix of online games is another example of how PlaySugarHouse.com offers its players a wide range of the most entertaining and innovative games in the industry!
Whether or not New Jersey sports bettors, who aren’t exactly known as big soccer fans and have been clamoring for real sports betting for years, will warm up to the products is a question that will be answered in the months ahead.