Bookmakers are always looking for different and exciting ways for customers to play and bet, with virtual bets being some of the most innovative and different ways that have arose in recent history. Placing bets has always been based on real-life events and placing a stake in what the player thinks is going to happen. However, virtual bets change this massively as the events that happen in the virtual bets are not real and are simply virtual sporting events.
Here at OddsMonkey, we will look at exactly what virtual bets are, how they work, what types of offers are used in virtual bets and how you could potentially make the most out of virtual bets and their bonuses.
What Are Virtual Bets
As we have already discussed, virtual bets are not real and do not take place in real life; this means they can happen at any time, and any sport that is supported by virtual bet technology can be played. Sports such as football, horse racing and darts can all be found within the virtual world of betting, with most real-world sports being part of the virtual sport catalogue. For players who enjoy their real world counterparts, check out our football betting guide or our horse racing guide.
Virtual bets are very similar to playing a game of roulette. Each outcome will have their own odds and those odds reflect the true chance of the outcome happening, unlike real sports which can change odds depending on team form or starting lineups. Following bets being placed, a digital simulation will play out, with all events and outcomes being comepleteky determined at random.
It is worth noting that virtual sports cannot be layed at exchanges like usual sporting bets, meaning making most of the offers are essential to making potential profit.
What Are Virtual Bet Offers
Speaking of offers, as virtual betting might be new to some users, bookmakers use these to try and get customers to bet on virtuals. One example of an offer is the Betfred “New To Virtual” offer which will award the user with a £5 free bet if £5 is placed on virtual bets. This is a classic case of a ‘Bet X, Get X’ offer which are popular with many sportsbooks today.
How To Use Virtual Bet Offers
The £5 used on the virtuals can be placed on any virtual sport; make sure to find out the different RTP (Return To Player) percentages, as each sport has a different value. Darts and football both sit at a high 95% and 91%, respectively, whereas horse racing sits at 82%, meaning make sure to pick your sport wisely. If the player decides to play the £5 on virtual darts, then we could expect to see a return of around £4.75. It is important to note that these RTP percentages are based on huge amounts, meaning players will not always get the predicted amount, with the amount able to fluctuate at different times.
With the £5 needed to spend on virtuals, players might be able to place smaller stakes to work their way up to the £5 total which could change up the amount returned. This leads to luck as if the player places five £1 bets, all five bets could lose or win, resulting in a different amount to £4.75.
How Do Virtual Bet Offers Link To Matched Betting
As the player will have now placed £5 worth of virtual bets, they will receive the offer of £5 in free bets. However, this extra bonus does not have to be used on virtuals and can be used on real life sporting events, meaning players can use matched betting to potentially lock in profits with the use of back bets and lay bets.
Matched betting involves placing a back and a lay bet on the same event, using precise mathematics and careful calculations, this strategy allows for the user to lock in a profit no matter the result of the sporting event as they will have a bet on the event happening and not happening (back and lay bets). Here at OddsMonkey, we have specific tools to ensure that no mistakes are made when matched betting, so make sure to use our matched betting calculator to ensure both components of your bet are matched.
Always make sure to check the terms of these offers, as some of the free bets that may be awarded might only be available for virtuals. If this is the case, this would not let players use the traditional method of matched betting.
Learn More About Virtual Bets At OddsMonkey – H2
OddsMonkey is the place to be for users who not only want to learn more about virtuals, but for all things sports betting and matched betting. We have a dedicated matched betting blog which is the perfect place for all things matched betting and we have a large range of calculators such as our betting odds calculator for all things betting to ensure players are placing the right amounts on the right odds, promoting sustainable play in the process.
