Virgin Gaming launches Premium subscription service

Virgin Gaming has announced a $4.99 monthly subscription plan for its esports service, where PlayStation 3 and Xbox 360 gamers can compete for cash prizes in FIFA, Madden, NBA, NHL and Halo. With the $4.99 monthly plan, players no longer have to throw down money before each match or tournament and can have a shot at everything.

Speaking with GamesBeat, Wim Stocks, Virgin Gaming's executive vice president said the subscription plan was a response to requests by the service's 2.7 million players.

"This takes away the small pain of giving up a share of the proceeds every time a players plays a match. That fee was discouraging people from playing more tournaments. This made a lot of sense. We expect broad participation among all skill levels."

He also said that subscription plans offered the company far more predictable revenue, something it was previously lacking. The service boasts players from 220 countries including the United States, where skill based online gambling is legal in "most states". 98% of the service's playerbase is male, with the average player spending around 13 hours a week on the service.

Companies such as Gamestop, Microsoft, Sony and EA have sponsored tournaments, which have paid out more than $41 million to date.

Alongside the subscription plan, Virgin Gaming has also added the ability for players to set up their own leagues, choosing the buy in, schedule, invites and dividing the payout. Virgin Gaming then steps in and prevents cheating.

Thanks, GamesBeat.