He said: “At the minute, one of our biggest projects is New Jersey. This is our first stop in the US, which is a very important market for us. We believe that virtual sports in the US will become very big. Maybe not now, it could take a few years, until people understand how this business works. But it’s good to have a foothold in the market.”
Virtual sports has grown exponentially during the global pandemic, with many choosing to integrate virtuals to fill the void left by the cancellation of live sports.
Wachter kicked off his presentation by sharing more details about entering the industry in 2000. He said: “When I first started in the virtual industry, I could already see that there was going to be a high demand for virtual sports across retail betting.
“Why is this? Sports betting means that wins are not guaranteed every month, so players can have high payouts, but can also have months where they are down.
“So virtual sports was always great to have next to it, because even with low amounts, you can still cover your income, your salaries for your employees. It was always very important from the beginning.
“Randomly generated on-demand games are also very popular. We have seen a really high growth in terms of mobile applications that people like to play on demand where they can play immediately.”
Dispelling the myths surrounding virtual sports, Wachter addressed the misconception that virtual sports does not have the same appeal as real sports. He added: “In my opinion, this is wrong. Many virtual operators see their games like slot games. So you can play any dog, any horse, any football team. It doesn’t make sense to look at the statistics.
“At Golden Race, from the beginning we have always rolled out realistic odds. We used realistic statistics which is the basis for our bookmakers in Spain, and they have used these tools to generate their odds in a way that it is realistic. If you work like this, there are things to analyse to realise what is possible, and to generate a real outcome so it’s not just an RNG game.”
Addressing the rise of virtual sports during the ongoing pandemic, Wachter disclosed that Golden Race has seen a 240% increase in visitors compared to last year.
He said: “Looking at our web page, we can see that virtual football was the most searched term to reach us, and the trend is continuing to grow. So in the coming weeks and months, this is going to see an even bigger interest.”
Rounding off the presentation, Wachter revealed that the virtual sports specialist is continuing to grow its global presence, with plans to expand into Latin America.
“Our two big projects at the minute are Colombia, where we have just licensed and gone live with some of our clients. And not to forget, new clients in Spain.”
With global business communities in the grip of the COVID-19 crisis, the Digital Summit was created as a platform for the industry to connect and share knowledge amid critical and unprecedented conditions.
Wachter will deliver another webinar for the event on Wednesday (29 April) at 1:30pm UK time, where he will explain the main differentiation between Golden Race and the rest of the virtual companies, exhibiting all the products and games features that make Golden Race the industry leader in virtuals around the world.
The SBC Digital Summit runs from 27 April to 1 May 2020 and features seven conference tracks, a virtual exhibition and virtual networking lounges, attracting an estimated 10,000 delegates logging in from around the world.
There is still time to register for the event, with company discounts available: https://sbcevents.com/sbc-digital-summit/tickets/