Entain have had great success in the gambling industry. They own companies such as Ladbrokes, Coral and Bwin but are always looking for new ways of making money. One new area they wish to expand into is the metaverse.
They have announced plans to create immersive experiences with both virtual reality (VR) and augmented reality (AR). This will be for not just the sports betting industry but also the gaming business too.
The betting giants plan to invest $133 million into a centre that will have the task of building immersive experiences for their customers. All of this has the aim of turning Entain into a metaverse pioneer.
If this is something that appeals to you, it’s a good idea to read a metaverse sports betting guide before registering accounts.
Ennovate will be a “global innovation hub” and innovation is the key word there. The sports betting and gaming industry is such a competitive one. Those who don’t come up with innovative ideas are going to be left behind.
The $133 million investment will be used to back start-ups and develop applications for NFT’s (non-fungible tokens), VR and AR. A real triple threat that should produce big profits for the betting company.
Jette Nygaard-Anderson is the CEO of Entain. Speaking about the plans to move into the metaverse, she said: “We want to lead the way with new, exciting products and experiences for customers and use our cutting-edge technology to pioneer innovations in sport, gaming and interactive entertainment for the metaverse.”
The CEO added that the company wish to use their position as a global technology leader to “help drive innovation more widely. Working with partners around the globe, Ennovate will demonstrate how Entain’s industry-leading technology can both revolutionise experiences for consumers and deliver real benefits to society.”
The first Ennovate lab will be at Charterhouse Square, Farringdon in London. It is due to open in Spring of this year and host members of the Entain innovation technology team. The company has also announced that Verizon, BT and Theta Labs will be partnering with them on this project.
The lab will have cutting-edge technology that will be used to create a unique environment for the work ahead. There will be new entertainment products developed for the metaverse, allowing player to interact in a computer-generated environment.
This will include an Experience Zone where new immersive experiences in gaming, interactive and sports entertainment can be tried out. All of this will help Entain achieve their goal bringing to life the most exciting experiences in immersive sport, gaming, and interactive entertainment. With the help of their partners, Entain believe this ca be achieved at a greater speed.
It was last October when interest in the metaverse began to see considerable growth. That’s when Facebook decided to change their corporate name to Meta. There has been great interest on Wall Street too. The estimates by Goldman Sachs and Morgan Stanley is that the metaverse may well be an $8 trillion investment opportunity. You can see why companies such as Entain are preparing to enter the metaverse. It’s a gamble that looks likely to make huge profits.
The gaming industry has made massive advances in recent decades. The arrival of the internet led to the creation of online sportsbooks and casinos. Then came the huge advancements in phone technology. That led to players being able to enjoy gaming experiences on their mobile phones wherever and whenever they wanted.
Now the metaverse is the next step forward. Virtual worlds allow players so many opportunities. They can own, build and make cash from the gaming experiences that they have. Wearing those headsets may make you look a bit foolish but there is a great time to be had when they are being worn.
Both VR and AR technology gives players a way to become totally immersed in the games that they are playing. They can enter virtual worlds and use avatars to explore them.
This continues the success that the company has had. Recent years have seen Entain expand into the US gambling industry. That has been totally changed since the groundbreaking ruling by a US Supreme Court judge three years ago.
Now individual states can decide whether or not to legalize gambling. Many have done so and gambling companies such as Entain have been able to expand the American side of their business by partnering with US companies to launch online sportsbooks.
This move into the metaverse comes at a time when a recent study found a clear link between betting and gaming. Esports continues to grow in popularity around the globe so it’s clear to see why Entain are moving in this direction. “This is what people want” says Dom Grounsell, deputy director of digital at Entain, so that’s what they intend doing.