The gaming industry is seeing a push to innovate by adopting iGaming-inspired products, even in regions where internet casinos are not yet allowed. Analysts, like Jordan Bender, highlight discussions at the Global Gaming Expo (G2E) about creating alternatives that capture the iGaming experience through innovations like crypto perpetuals and historical racing.
Historical Racing Machines (HRMs)
HRMs, initially focused on horse racing, have proven profitable for racetracks and casinos, with Hard Rock International earning around $1 billion from NASCAR-themed slots that utilize historical race data instead of traditional random outcomes. This trend shows how merging sports betting with historical events can offer new opportunities.
iGaming’s Appeal
The interest in iGaming-like innovations in sports betting is driven by several factors:
- Higher Margins: Internet casinos typically provide better profit margins compared to traditional sports betting.
- Familiarity: iGaming players tend to gravitate towards slot machines familiar from land-based casinos, motivating operators to expand their game libraries.
- Necessity for Innovation: With limited states allowing iGaming, operators seek ways to incorporate similar experiences into sports betting.
Overall, the move towards iGaming-inspired products reflects a strategic effort to drive growth in jurisdictions with restrictive gambling legislation.
