It is estimated that investment in augmented reality (AR) and virtual reality (VR) will increase by 300% between 2017-2020. Startups are rushing to invest their time and resources into this new emerging technology. A new startup, 360 Bet, has emerged. Their platform aims to provide a safe and legal environment for betting with AR/VR technology.
In the world of sports, gamblers can now bet on their favourite teams or predict winning outcomes without being physically present at the event through online wagers. Gamers use virtual reality headsets, which transport them into a virtual realm where they can interact with other gamers at a virtually simulated casino. 360 Bet offers a social, immersive experience for casual and professional gamers alike to provide an exciting new way to view sports events.
Few details related to 360 Bet founders:-
The founders of 360 Bet, Phillip Meylan and Michael Reaves, come from a professional gaming background. The duo has founded successful esports teams and created tournaments worldwide. With their wealth of experience behind the project, they are confident in delivering an innovative product to their users.
Currently, 360 Bet is hosting closed beta testing for select individuals who have applied on their websites. The platform runs on Oculus Rift and HTC Vive headsets.
In the gambling industry, VR technology will revolutionize the way people wager. This being various new approaches to with advantages for the sports betting. For example, gamblers who want to participate in a virtual casino can play games without being physically present at a physical casino. It is estimated that customers who use VR technology are expected to spend up to 40% more time in the casino.
What 360 Bet founders hope from it?
360 Bet founders Phillip Meylan and Michael Reaves hope their platform becomes a hub for sports enthusiasts and gamers worldwide. Their mission is to create an online sportsbook with a social, immersive experience where users can bet on their favourite teams and games.
They have partnered with the top tech firms globally, such as Nvidia and Intel, to ensure they can handle these complex requirements. Having a strong presence in China and Japan, with a rapidly growing European user base.
They plan on developing a virtual reality social casino, where gamers will be able to gamble using their favourite currencies. Gamers will also be able to place bets through augmented reality technology on their mobile devices. Accessibility is critical, as more people have mobile phones than computers. In addition, VR and AR technologies will be used to create a player/croupier experience from the comfort of one’s own home.
Gamers who play at 360 Bet will earn digital currency that can be traded for goods or real money. Those looking to gamble with fiat currencies such as USD will have access to a wide range of traditional sports betting options.
Details regarding revolutionize been made by 360 Bet:-
The online gambling world is growing fast, but innovation in the industry is somewhat slow. Fortunately, 360 Bet is set to revolutionize the way people bet on sports using AR/VR technology. By merging virtual reality with popular social casino games, they are creating a unique platform where users can play immersive casino games within the realm of VR.
The company has been backed up by a team of experienced entrepreneurs, developers and gamers who are passionate about this industry and optimistic about the future.
Social gamblers who use currencies such as Bitcoin will benefit from a competitive edge over those who wager using fiat currencies. Funds can be easily transferred between their accounts and online casinos, leading to potentially more significant winnings with less hassle.
Talking about ICO initiative by 360 Bet:-
Currently, the company is working on an ICO (Initial Coin Offering), where the initial currency distributed to participants will be redeemable for real money or be used at the 360 Bet casino.
With the cryptocurrency market being unregulated, many shady practices are occurring within this sub-industry, giving it a bad name overall. Despite this, companies are still trying to create innovative products in this space. 360 Bet promises to set itself apart from the rest of the pack with its beta platform and gambling license, which will provide investors with a safe environment in which to earn money.
Gamblers will undoubtedly continue to search for ways to place bets and winnings using cryptocurrencies in an increasingly regulated industry. Companies such as 360 Bet might be the answer they have been looking for.