We’ve come a long way since sports betting was initially introduced to the public. While traditional sports are still very popular, virtual sports have grown in popularity, as they provide bettors with a consistent and unpredictable betting market. But, what are virtual sports, and what makes them so appealing? Join us as we take an in-depth look at virtual sports betting and how it might help you to learn about motorsports betting.
What is virtual sports betting?
One of the pitfalls of traditional sports betting is that it operates according to a calendar that can’t be changed unless something happens in the respective league or tournament. However, virtual sports betting fills the void when you have nothing to bet on. These games are similar to what you’d find with eSports events, but the key difference is that these games aren’t played by people. Instead, virtual sports are animated events that are simulated with the help of an RNG (random number generator).
When it comes to virtual motorsports, a race is showcased, which is generally a virtual F1 event. This allows you to try to predict who the winner will be, along with a range of additional betting markets. Much like real sports betting, virtual sports betting is essentially a game of chance, as there’s no way of determining the outcome because it has nothing to do with the quality of the competitors.
The odds of virtual motorsports
Betting on virtual motorsports is similar to what you’d find with traditional sports betting as there is a range of odds that have been made available. The probability of a specific car winning the event will be based on the odds that are provided. As with real motorsports, the higher the odds for a specific driver, the lower their chances are of winning. However, the higher odds have the best payouts, so it could pay off to bet on the underdog on the odd occasion.
Virtual motorsports races are quick-paced and are over in a few minutes. These races also take place back-to-back, which means that you’ll be exposed to nonstop action for as long as you’d like.
The different types of virtual motorsports
Similar to the real world, virtual motorsports is mostly made up of Formula 1 races or races with a similar aesthetic. If you understand the ins and outs of F1 races, you’re guaranteed to have a great time due to the graphics and the overall simplicity of the tracks.
Fortunately, virtual motorsports have seen some operators venture into new territory with races that feature a NASCAR and MotoGP aesthetic. This is a great development without changing the way that races operate, as you’ll still be betting on the winner of the race based on the odds that are provided.
Virtual motorsports betting markets
The betting markets provided for virtual motorsports aren’t as broad as what you’d find with real racing events. This is because this betting category is focused on simplicity, so you’ll usually be predicting the winner of the race. Other betting markets such as place betting are available too. This allows you to choose the first, second, and third-place drivers.
Tips to succeed at virtual motorsports betting
Like most forms of sports betting, there’s a lot more to it than betting on the name that stands out to you the most. Below are some tips to help you to succeed in virtual motorsports betting that can be applied in real sports betting.
Use the bonuses
Bonuses are a great way to get the best bang for your buck, and sports betting operators such as BetMGM offer welcome bonuses that can be applied to sports betting and different types of casino games. These bonuses are usually available in the form of deposit match offers that match the amount of your initial deposit by a certain percentage. Keep an eye out for wagering requirements if you wish to withdraw your winnings.
Be prepared for losses
There’s no guarantee that you’ll win all the time, despite participating in a virtual sport that possesses short odds. By understanding the laws of probability, you’ll know that a loss is always possible. This is why it’s never a great idea to put your entire bankroll on a single event. It’s best to spread it out over multiple races in smaller amounts so you can minimize losses and accumulate moderate wins.
Ensure that you understand the odds
Understanding the odds of the sports betting market or the online casino games you’re playing is one of the most important aspects of betting. An online casino such as BetMGM will provide you with a set of short and long odds for virtual motorsports betting. Betting on short odds is the safer option as it provides quick results; however, long odds will have higher payouts.
Stick to your budget
Any experienced bettor will tell you that sticking to your budget will save you from accumulating larger losses over time. Before you start betting, determine how much you’re willing to spend while ensuring that this is an amount that you can afford to lose.
Never chase losses
Chasing a loss is never a good idea, whether you’re betting on virtual motorsports or new casino games. By chasing a loss, you’ll put yourself at risk of increasing your losses on a larger scale, and this is the last thing you’d want. The best thing to do in this scenario is to stop and call it a day.
Things to love about virtual motorsports betting
With motorsports such as Formula 1, NASCAR, and MotoGP being seasonal, virtual motorsports are available throughout the year, which might be disappointing to purists, but this is what makes it so appealing. Virtual motorsports also offer a variety of events on different tracks, which means that you won’t have to watch the same race.
Like many of the best casino games, virtual motorsports only takes a few minutes, and the quick pace will provide a constant element of excitement. This, paired with the overall simplicity of virtual racing, makes it perfect for those who are new to sports betting who would eventually like to take the leap to real motorsports betting.
Head to BetMGM with your fresh set of skills
If you’re confident enough to participate in real motorsports betting after getting enough practice with virtual motorsports, then head to BetMGM to enjoy the best NASCAR and Formula 1 betting markets. If you’re after something a bit more relaxed, such as playing casino games online, we guarantee that you’ll find something that appeals to you on our platform.