Virtual sports betting is fun and engaging. It takes some of the most exciting sports and sporting events, ramps up the action and packages it into betting events offering bettors the chance to wager on sports, some of which are not normally associated with gambling – such as cycling and speedway.
In the early days of virtual sports betting there were only virtual horse races and many people referred to it as ‘cartoon racing’. That’s because the graphics were very basic and the action was somewhat monotonous. Greyhound racing followed, and as real-life dog races have just six runners and conclude in less than 30 seconds, the virtual sport designers managed to create a more realistic look and feel.
Technology has transformed virtual sports betting
But in this day and age, all virtual sports betting, which can be found being broadcast on betting sites and most online sportsbooks, are simply stunning in their detail and overall appearance. Furthermore the list of virtual sports you can bet on is as long as it is impressive. There’s virtual sprint and jumps horse racing, flat racing and virtual Grand National, motor racing, many forms of basketball, NFL, soccer, speedway and volleyball.
All of this makes virtual sports betting a lucrative business, and especially in these times of Covid-19 pandemic, where most sporting events are cancelled or postponed, virtual sports provides a good outlet for punters eager to spend their money.
And here’s the amazing thing about virtual sports betting events – the betting odds on offer are normally better than their live non-virtual counterparts. We know this because of the over-rounds, that’s the percentage in the bookmakers favour. Repeatedly they show, in terms of a dog race for example, the margins are fairer to the punters in the virtual world than at the some actual greyhound tracks.
The Probability, Results & Odds
But how are the race winners of virtual sports betting decided? Well, they are no different to an online slot machine, the outcome has been decided the moment the game starts by virtue of a Random Number Generator (RNG) and the sad fact is …no matter how much you shout at your screen your selection will not perform any better or worse than it was destined to do.
How the betting odds on offer are calculated is very interesting however because this uses the conventional laws of probability. Why do more favourites win in virtual races than +500 shots? Or how come a virtual horse or race car is even-money? You may ask. First of all you should check the page about virtual sports betting at freebets.co.uk to get a complete review of how the odds work and which are the best bookies for virtual sports betting.
A good analogy
Another good way to explain is by imagining all runners in a six-runner dog race are allocated numbered balls and 100 balls are placed in a sack. It is the RNG’s job to pull the winning ball from the sack however, the +100 shot is the favourite because half of the 100 balls have his number written on them. Similarly, the +400 shot has 20 balls with its number on it and the +900 shot has just 10 of the 100 numbered balls in the sack.
Naturally the bookmakers add their profit margin to the odds but the hard and fast rule is… the shorter the odds of a virtual selection the greater it’s probability of winning and the larger its odds the less likely it is to win.
Interesting related article: “What is Gambling?“