As the number of US states that are legalizing gambling increases, Florida is on the way toward the same reality. According to a Florida Today report, Nigel Wheatstone has used that momentum to his advantage as he is opening Vegas Lit Games, a Brevard-based company, where novice gamblers can get familiar with the industry and its tips and tricks without losing money.
Not only that, but Wheatstone is also focusing on starting his operation that can be the sports betting leader in the future.
Vegas Lit Games Has the Potential to Grow Immensely In the Coming Years
The new business is based in Satellite Beach and it hopes to capture a decent share of the market that is set to grow a lot in the upcoming years. Florida is still in a pretty complicated situation with the process of legalizing sports betting.
At the moment, there are 15 states in which sports betting is considered legal. Florida is one of six that is in the process of legalizing it as there is proposed legislation. A federal judge delayed a decision on whether the gaming compact through which the Seminole Tribe will be able to operate a sports betting business on November 5. Hence, legalized betting is open currently. That is why the Seminole Tribe decided to launch its betting app and that was met with some criticism.
However, that could change this week as the federal judge will render a past decision between the state of Florida and the Seminole Tribe. These events do not concern Wheatstone as he already has Vegas Lit Sportsbook, which is a free-to-play app and thanks to the app, everyone can learn tips and tricks and play for points, not for money.
Wheatstone shared a few words on the app and said that its purpose is to create an environment where sports betting fans can experiment with betting on sports, learn its fundamentals and do all of that in an environment where they don’t have to worry about losing money. Wheatstone is an England native and has worked in the US with the likes of MasterCard and Inter for over 20 years.
He describes his app as a “playground for new gamblers.” Wheatstone also said that the app represents the creation of a new environment that has never been present before. This takes him back to his old training days, where he provided people with an environment where they can experiment and learn.
Other Experiments are Also on Wheatstone’s Mind
Wheatstone is also open to other experiments, with one of them being National Sports Bar League, where bar/restaurant patrons can place bets on sports against other establishments. This concept is also based on a points system, rather than money.
The impressive thing is that plans are currently ongoing and the concept may be available to Brevard County restaurants and sports bars in the next couple of months. Wheatstone predicts that peer-to-peer gambling is a “wave of the future.” Instead of having to bet against the house, sports bettors will transfer to wagering against other players in the upcoming years.
By combining peer-to-peer gambling with an increase in in-game betting, Wheatstone is confident that his Vegas Lit Games will be in the perfect position to snatch a decent market share in a period where sports betting has never been more fertile in the country.
Based on today’s metrics on in-game and mobile betting, Wheatstone is convinced that this type of wagering is the future. He stated that mobile wagering is responsible for 80% of the total sportsbook traffic and in-game betting takes 85% of that traffic. With his app’s pool and prop wagers, bettors will have an event on which bets can be placed throughout its run time. For example, if they place a bet on the first half of a game and they win it, they can instantly receive a payout and use the money to wager on the second half.
Wheatstone went on to clarify that his company owns the patent of this type of wagering and once it is live, it will disrupt the industry. Since the general consensus states that people are more than willing to bet against each other more than against the house, the company will be in the best position to snatch a portion of the market that is patent-protected.
At the moment, Vegas Lit Games is in the process of searching for partnerships with beverage companies and sports bars in Brevard County to promote and advertise the sports bar league events.