On 15 March 2022, GlobalBet confirmed that it had inked a deal with Eurobet, an Italian market subsidiary of the Entain group, to provide virtual sports products to both online and retail betting verticals in Italy.
As a result of the deal, GlobalBet will provide Eurobet with its Virtual Football PRO product as well as its ADM licensed product. As well as providing Italian online bettors with more virtual sports betting options, the products can be accessed via retail betting outlets all across Italy.
Pandemic Drove Growth in Virtual Sports Betting in Italy
GlobalBet CEO Daniel Grabher is keen to exploit the growth in popularity that virtual sports betting has seen in Italy in recent years:
“Italian engagement with online virtual sports betting products continues to be on the rise due to COVID-19,” he said.
Italian bettors turned to virtual football betting and other virtual sports in droves during the pandemic, when real-life sports were restricted. While virtual football now accounts for around 60% of the market share for virtual sports betting in Italy, greyhound racing is also popular. Virtual dog racing accounts for around 35% of the market.
Giuseppe Donato, country manager in Italy for Kiron Interactive, highlighted this growth in popularity when he hosted a presentation at SBC Digital – Italy in February 2021:
“The rise of this alternative has created a domino effect not only on opening access to new markets but also on customer preferences, such as the ease of online gaming,” he said.
Online sports betting is proving to be highly popular in Italy, with Naples delivering the highest gross gaming revenue (GGR) in the country in 2021. Bettors in Naples generated €30.2 million last year according to Statista.
Globalbet’s Realistic Virtual Football Recreates Real-Life Stadiums
Globalbet’s in-house team has developed the brand’s virtual sports products by making use of algorithms alongside advanced motion capture and 3D animation. Customers are able to hear exciting commentary, and see highly realistic recreations of real football stadiums, players and match events.
In a typical virtual league, teams play each other twice, home and away, just as happens in most real-life football leagues across the world. Each game lasts two to three minutes, and up to seven goals can be scored. Bettors can choose their favourite national teams to follow.
While the GlobalBet-Eurobet deal is exciting from a technological point of view, its commercial implications are also significant. Globalbet has long sought a position as a market leader in its sector in Italy, and this new deal allows the company to offer a customised virtual sports portfolio to bettors that covers 15 different sports, as well as delivering access to special number games.
Eurobet’s Head of Sportsbook and Trading, Federico Spescha, is delighted with the deal and is looking forward to seeing GlobalBet’s highly realistic virtual sports offerings in action.
“We are very excited about our partnership with GlobalBet,” he told reporters.
“Our aim is to enhance our virtual sports offering with the advanced visuals on the market, this is the main reason we wanted GlobalBet’s lifelike products in our virtual portfolio.”