Earlier this week, Inspired Entertainment Inc. (NASDAQ: INSE) signed a licensing agreement with Scientific Games (NASDAQ: SGMS) to allow Virtual Sports content through "OpenMarket," Scientific Games' sports betting platform.
Virtual Sports boasts "lifelike graphics to mimic the experience of real sports betting." Every event lasts about 90 seconds and games are easy for people to play.
Inspired provides a 24/7 stream of sports betting content, even when "sports are not feasible." Through Virtual Sports, gaming providers can find new revenue streams that can be placed inside existing websites and sportsbooks.
"Virtual Sports have been a great complementary product to live sports," Keith O'Loughlin, SVP Sportsbook and Digital for Scientific Games, stated in a release. "But with major professional sports on hold due to the COVID-19 crisis, Virtual Sports are helping fill a big void. We're thrilled to partner with Inspired Entertainment so our partners can offer their customers realistic computer-generated re-creations of their favorite sports, and keep customers engaged between games once live sports are back."
Inspired President and Chief Operating Officer Brooks Pierce added, "Inspired has built the largest and most advanced portfolio of Virtual Sports, and we're tailoring our products with a combination of fast-paced action, ultra-realistic player simulations and a tremendous breadth of bet types."
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