Virtual Sports Betting: How? What? Where?
Within the last year, we have seen a huge rise in virtual sports betting. The newest innovation of conducting sports events virtually, via computer software has appeared on more and more online sportsbooks and bettors alike.
We believe the rise in virtual sports betting has come about due to the worldwide pandemic. During 2020, the majority of sporting tournaments were cancelled or put on an indefinite hold meaning there was little to nothing for sports fans to bet on.
You can now bet on virtual sports on many of the online casinos that we recommend, but we can guarantee there will be added to the list shortly. You will be able to place bets on virtually generated events such as horse racing and football matches.
Not familiar with the concept of virtual sports or virtual sports betting? Ultragambler is here to answer the most asked questions:
What are Virtual Sports?
The best way to describe virtual sports is that they are essentially video games, specifically designed computer software that plays out races, contests and sporting events. The computer software uses advanced algorithms to determine an outcome.
The algorithm accounts for the skill of the participants alongside the luck elements which you would see in real-world sporting events.
In terms of the generated graphics of virtual sports, think along the lines of watching a professional gamer play the latest Fifa on a gaming console. Not quite as sophisticated as a television broadcast.
The velocity of bets available increases because sportsbooks are able to offer more action without the need for actual real-world sporting events.
What Virtual Sports Betting is Available?
The majority of real-world sporting events can be transformed in to virtual sports. However, there are some sports that are more popular than others. These are the most common virtual sports available for betting on:
- Horse Racing
- Motor Sports
- Dog Racing (greyhounds)
Here is a look at the Scout Gaming lobby used by 1xBet virtual sports betting. They offer an abundance of different games to bet on including NBA, La Liga, Chinese Basketball and much more.
Is Virtual Sports Betting Legal?
If a licensed sportsbook offers virtual sports betting, you can assume that it is a legal transaction. Online bookmakers need to have a gambling license to offer betting online, virtual sports betting will have been approved to offer games better both real-world and virtual.
Many unlicensed bookmakers do not go through a regulatory vetting process and therefore your security is not guaranteed. Ultragambler would never recommend unregulatored or unlicensed gambling sites.
Where Can You Bet on Virtual Sports in 2021?
Virtual sports is offered by a variety of both online and land based bookmakers in regulated markets. In the UK and Europe there are several popular names of virtual sports betting.
The top 10 virtual sports betting sportsbooks include:
Virtual Sports Betting Tips
Virtual sports are unpredictable and therefore can be difficult to create a betting strategy, however, there are still ways to increase your chances of getting a high profit return.
UltraGambler are offering our best tips for getting started on virtual sports betting.
Look for virtual sports betting promotions
At one point or another, most sportsbooks will offer a form of virtual sports betting promotion and bonus to entice new players. This is the case with all forms of gambling, not just sports betting.
We highly recommend you look around for the best promotions before placing your first best, as they can often greatly enhance your bet and potential payouts.
Choose you virtual sports wisely
Always bare in mind that the outcome of a virtual sports match is decided by a computerised algorithm, however, it is still possible to increase your chances of a winning result.
One advantage of virtual sports betting is that it has a smaller number of competitors and therefore you are statistically more likely to predict a winner. For example, if there is a 6 dog greyhound race compared to a 10-runner horse race you are more likely to win at the dog race as there are less competitors to bet on. Naturally this does mean that the odds will be lower.
Bet small & don’t chase losses
No matter how careful you are and how much research you conduct, virtual sports markets are unpredictable and offer a high level of randomness. With this in mind, you are always going to hit some losses, this is why we suggest betting with small amounts. Yes, this will result in lower profits, but it is a great way of avoiding a big monetary loss.
Another very important mistake to avoid is not to chase after a loss. This means if you do start losing don’t bet more money on the same thing, take a step back from virtual sports or switch to a different event.
Keeping these two tips in mind at all times will help you to stay in control of your bets and gambling.
Don’t always bet the favourite
Just like real-world sports betting, there is always more weight added to the favourites in an event. This also rings true in virtual sports betting.
Whilst you cannot rely on a win every time you bet on a favourite, overtime you are more likely to see a payout over time. It’s also worth betting on your choice as an each way wager then at least you still get a return from your stake.
Remember: Virtual Sports Betting IS NOT Real
The results of virtual sports matches do not reflect real life in any way, virtual sports are based on a computer generated algorithm.
For example, in a real football match, Manchester United would be favourite to win if they were to play a lesser team like Crawley Town. However, in a virtual sports match it could easily be reversed. It is also not uncommon to see top of the league teams getting relegated in a virtual sports league.
Real life sports knowledge cannot influence your decisions when it comes to betting on virtual sporting events.