The world of sports betting is always evolving, and with the rise of digital sportsbooks and bookmakers, bettors are able to wager on all different types of online sports and different sporting aspects. Whether it be goalscorers in football or a player making a birdie on a specific golf hole, bettors have lots of freedom in the world of sports betting. One of the most recent developments in the market is the addition of virtual sports on which bettors can wager. These are sports that are played out in virtual reality and play with the same random outcome mechanics as in many digital betting games. Here at OddsMonkey, we will look at what these virtual bets are, how they work, and how bettors can use them.
What Are Virtual Sports?
Virtual sports are games that play out in different ways that replicate real-life sports, such as football, horse racing, and much more. Bettors are able to spectate these whilst also placing bets on them. Just like regular sports betting, each team is given odds for how likely they are to win, and bettors are able to make different types of bets, such as accumulator bets or single bets. If users are looking to place these bets, make sure to use our accumulator calculator and our single bet calculator.
These virtual sports cover all types of sporting events; they are also available for users to bet on at all times, as a new round or event will begin every couple of minutes. This allows bettors to make use of the odds available in these stakes at whichever time suits them.
The outcome of these virtual sports is completely determined by an algorithm, so aspects such as form or past results do not have an impact on the gameplay, unlike real-life sporting events. With these elements not in play, virtual sports are known to be a closer experience to casino betting than sports betting due to the randomisation of results.
It is also important for bettors to remember that these virtual sports are not the same as Esports, which is competitive video game betting. Virtual sports are simulations of real-life sports, whereas Esports is the act of players competing against each other on different video games such as CS GO and FIFA. If users are interested in learning more about Esports, take a look at our Esports betting guide.
How Does Virtual Sports Betting Work?
As previously mentioned, virtual sports are based on an algorithm, meaning they are primarily luck-based. However, each team or selection is given odds for how likely they are to win. For example, if England faced Denmark in a virtual football match, both teams would be given certain odds on how likely they are to win whilst there also being a draw option on which users can bet. These odds do not have a direct correlation to how the teams will perform, yet they will give bettors a good indication of who is most likely to win the match.
As this is a virtual game, some users might be sceptical of how safe these games are to play; however, just like online casino games, they all feature an RTP (Return To Play) percentage that they must stick to. This means users betting on virtual sports at any reputable casino can rest assured of the legitimate and fair results provided.
However, as these games can be played in quick succession, it can be easy for bettors to continue playing and chase losses. Make sure you gamble responsibly and keep track of your bankroll when playing these games.
Matched Betting In Virtual Sports
When it comes to matched betting in virtual sports, there is no way for bettors to use the traditional matched betting methods, such as placing a back bet and a lay bet on the same event, as betting exchanges do not accept lay bets on virtual sports.
However, many online casinos and bookmakers will provide different virtual offers that bettors can take advantage of. If you want a more in-depth look at virtual sports bet offers, then we have a virtual bet offers guide which is perfect for bettors who want to make the most of their virtual betting. In hand with this guide, bettors can also use our expected value calculator to work out whether the offers have a positive or negative expected value over a long period of time.
Although matched betting does not work in virtual sports, there are plenty of other ways that bettors can create matched bets in different ways. To find out all of the different ways in which bettors can place matched bets, check out our highly detailed and extensive matched betting blog, which is available on the OddsMonkey site.
