The advent of online casinos has given enthusiasts something to look forward to every day. Not only does it offer a level of convenience and ease of betting, but it also provides an opportunity to experience the thrill of jackpot slots, casino table games and a variety of online sports betting options around the clock.
We’ve come a long way since sports betting was introduced to the public. While traditional sports are still very popular, their virtual counterparts have grown in popularity because they provide bettors with a consistent and unpredictable betting market. But what are they 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 more 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, the virtual world can fill 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 they aren’t played by real sportspeople. Instead, they’re animated events simulated with the help of an RNG (random number generator).
In virtual motorsports, a race (generally a virtual F1 event) is showcased. This allows you to try to predict who the winner will be, along with a range of additional betting markets. It’s essentially a game of chance since 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 because there’s a range of odds that have been made available. The probability of a specific car winning the event will be based on the odds provided. As with real motorsports, the higher the odds for a specific driver, the lower their chances of winning. However, higher odds have the best payouts, so betting on the underdog on the odd occasion could pay off.
Virtual motorsports races are quick-paced and are usually over in a few minutes. They also take place back-to-back, meaning 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 mostly comprises Formula 1 races or races with a similar aesthetic. If you understand the ins and outs of F1 races, you’re almost 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 races operate, you’ll still be betting on the winner of the race based on the odds provided.
Virtual motorsports betting markets
The betting markets provided for virtual motorsports aren’t as broad as 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 like place betting are also available, allowing 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. Regardless of which form of sports betting you choose, one of the most common virtual sports betting tips is to be in the know. This means it’s imperative to have a basic understanding of the world of virtual sports betting and the rules of the sport itself. After that, you can experiment with different strategies and tactics to see what works and what doesn’t.
Knowledge of top performers can also put you at an advantage because track history speaks volumes. Below are some tips to help you to succeed in virtual motorsports betting and which can also be applied in real sports betting.
This applies to motor racing betting, live dealer casino games and anything else you’re looking to master. There’s only so much that you can glean from watching other people play or researching those who have succeeded in virtual motorsports betting. At the end of the day, you’ll have to dip your feet in the water and develop your own approach to it.
There’s a reason why the saying “practice makes perfect” is so popular. It’s because it’s true. While perfection might be difficult to reach – if at all – there’s always room for improvement. Regardless of whether you’re a beginner or have years of experience at motorsports betting, you can put yourself in a better position by staying up to date with industry news, developments and trying to determine how that might affect the outcome of your betting efforts.
With motorsports betting, the desired level of confidence can often be attained with familiarity through practice, as well as a great understanding of the races and the top achievers.
Use the bonuses
Bonuses are a great way to get the best bang for your buck. Sports betting operators like 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 putting your entire bankroll on a single event is never a great idea. 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, which is the last thing you’d want. In this scenario, the best thing to do is to stop and call it a day.
Things to love about virtual motorsports betting
With motorsports like 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, with the quick pace providing 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, head to BetMGM to enjoy the best NASCAR and Formula 1 betting markets. If you’re after something a bit more relaxed, like playing casino games online, we guarantee that you’ll find something that appeals to you on our platform.
Whatever you’re after, you’ll be spoilt for choice at our online casino. Explore a wide variety of exciting games and betting options when you register at BetMGM.