We are slowly but surely entering the next phase of horse racing as a sport. Horse racing is going digital!
You might have heard about a digital fork in the horse racing industry called “Virtual Horse Racing” which is growing rapidly at the moment.
The idea is to have a platform where digital horses race with a randomized outcome similar to slot machines.
Now, not all virtual horse racing games are the same. Some are basic simulations where identical virtual horses run around the track powered by a Random Number Generator (RNG), while others dive deeper into the horse’s abilities and unique traits.
Generally, they are all here to fix one thing that the horse racing industry lacks and that is the availability of the races. With virtual horse racing, people can bet on horse racing whenever they like 24/7.
It seems like the entire eSports market is growing and we now often see very popular eSports events that attract more people than real-world sports. Additionally, we have a lot of talk about the Metaverse and eSports market combining, making it a market worth billions of dollars.
Let’s learn more about virtual horse racing growth and how it sets standards for eSports.
What are Virtual Horse Races?
Think of it as betting on a horse who doesn't eat hay, has no heartbeat, and is unlikely to suffer an injury anytime soon. That is what gamblers do every day of the year, as virtual horse racing becomes increasingly popular.
The gaming industry is very competitive. There are new firms being formed on a regular basis, but only a limited number of clients. It's a continual effort to create something new that will entice players and keep them coming back for more.
Virtual horse racing is one method betting organizations keep gamblers engaged. In real life you have to wait for a specific event to happen. For example, you have to wait for May to see the 2024 Kentucky Derby results. The results in virtual horse racing are instant. It is not a new phenomenon brought forth by online gaming companies. Betting on virtual horse racing has been around for a long time.
Quality of Virtual Horse Racing Games
In past years, the graphic quality of the games was not optimal. Nowadays, with such great technology at their disposal, betting companies are able to create spectacular virtual racing games that, at first look, might be difficult to discern from the real thing!
Unfortunately, strict license agreements restrict betting companies from simulating virtual races on actual racetracks.
To address this issue, operators have created their own virtual circuits that do an excellent job of simulating the ambiance of a genuine racetrack.
The races use the same camera views as television cameras during real-life live races, and you can even watch the positions of the horses as the race goes on to keep track of your selection's progress.
Why do People Bet on Virtual Horse Races?
Since its debut, virtual horse racing has progressively evolved into one of the most successful virtual betting industries.
This is largely because, unlike real horse racing events, where you may have to wait for officials to review the race before your bet can be settled, or where there are non-runners or even cancellations due to inclement weather, betting sites have made virtual races available on-demand, all day, every day.
eSports Metaverse Craze Blockchain-Inspired Horse Racing Projects
Over the last couple of years, we’ve seen a couple of big virtual horse racing projects that use Blockchain power to give people to own a horse and participate in races.
Here are some of the biggest projects so far:
OmniHorse, the first marketplace for thoroughbred horse non-fungible tokens (NFTs), will be launched by AMO Racing Club, the industry's most popular emerging technology enterprise. The OmniHorse platform aims to enable public access to racehorse ownership in a fresh and unprecedented way, combining cutting-edge Web3 technology and multi-media.
Zed Run is a platform based on the sport of horse racing in which participants pay fees to enter races and compete with their horses. The horses are created using a unique algorithm; thus no two horses have the same traits.
Even prominent businesses choose to collaborate with ZED RUN to promote their products.
Stella Artois, a beer company, has joined the rising trend among celebrities and sportsmen for virtual horse racing by auctioning off fifty unique horses to coincide with the start of summer.
Game of Silks
Silks is a one-of-a-kind game that combines real-time horse racing with the world of virtual gaming to create an unforgettable experience. The NFTs earned during this game will let you keep track of your thoroughbred. This game gives you around 10,000 distinct avatars for race owners.
There is a lot of buzz around the Metaverse, and one thing is for sure. If we develop a virtual gaming space, it will probably be powered by the Blockchain. The virtual horse racing market will grow in the future just because we see much more activity in this industry.
People love to bet on such horses, and on top of that, they like the idea of owning a racehorse.
Additionally, the games will become much better, with improved graphics, realism, and user experience, and we shouldn’t be surprised if virtual horse racing takes a large part of the eSports market share.