Entain and Verizon Media Bring VR to Sports Betting
Entain, an Asian sports betting company has signed a lucrative partnership contract with Verizon Media as they usher virtual reality (VR) into the world of live sports viewing and betting. We will take a look at how this deal was arranged and agreed as well as the technical aspects of virtual reality and how it will benefit both parties involved.
Online sports betting has become the most popular medium for gambling activities, due to its convenience of fast payments and user interactivity. ©top10-casinosites/Pixabay
The gambling firm is set to work alongside Verizon Media in a partnership which both parties hope will be long lasting and fruitful. Their hope with this new alliance is to allow punters to participate in sporting events, check data and socialize with friends. Alongside this, they will be able to place bets on the Entain platform while interacting with virtual reality. Certainly, an innovation that we’ve never seen offered by any other platform thus far.
The decision to form a business partnership was founded upon analytical research of data trends as well as technology integration methods. Shay Segev, the CEO of Entain, said in a press release to the media, “To win in the future we need to understand where customers will be in five, ten years “.
The vision of the two companies together is to have users meet at a game with friends in virtual reality to ascertain the same experience as if it were a real matchday. Spectator sports have been diminished of crowds due to the Coronavirus, with the epidemic developing they believed that now was the perfect time to announce their plans for the future.
They also aim to integrate 5G once the service becomes readily available for consumers, they also want to incorporate augmented reality to enhance the overall sports betting experience. For those who are less technologically astute, augmented reality add digital elements to a live view often by using a camera on a smartphone, a popular example of this is Pokémon GO. Virtual reality implies a complete immersion experience separate from the outside world.
Entain Spark Innovation Once Again
Entain has been on the cutting edge of sports betting innovation for some time, their in-play features have received praise from across the industry. Only last week they rebranded from GVC Holdings to Entain, this decision favored overwhelmingly by their top shareholders. The company has committed to operating 100% across regulated markets by the end of 2023 trading.
Entain has also shown themselves to be a very generous and transparent company. They have dedicated $100 million into a CSR fund which will be donated over the next few years to support local communities, gambling addiction research and the funding of grassroots sports initiatives. Segev has backed these new development plans, for which they will achieve company growth by attracting highly skilled employees and securing more key partnerships in new markets.
Entain and Verizon have promised the building of two 5-G enabled production studios in Los Angeles and London. Combining this with their creative technology teams and Verizon’s immersive platform will allow virtual reality content to be created and distributed across numerous digital channels. The CEO of Verizon Media Gura Gowrappan said: “Together, we are building the next-generation of content experiences for sports and gaming experiences”.
Previous Alliances Prove to be Worthwhile
Technically this isn’t the first time Entain have partnered with Verizon Media, Yahoo Sports which is part of Verizon had partnered with BetMGM, a joint venture with MGM resorts through which Entain operates in the United States. The Integration of BetMGM onto the Yahoo Sports app allows users to place a bet without leaving the application.
Entain has taken it upon themselves to recruit a research company called YouGov to give them insight into innovations within technology as well as potential investment markets. This research revealed that the gaming and entertainment industries are becoming linked to one another, converging across multiple mediums.
YouGov market analysis revealed further information for Entain to base their customer approach around. Statistics show that men aged between 25 and 40 are most likely to be early adopters across all sectors; this makes them the key audience for new markets such as eSports. When it comes to conventional sporting competitions, interaction is important to the overall experience to the audience, 29% of 25 to 40 and 35% of over 55s are engaging digitally to better their live sports viewing and betting experience.
