The world is still slowly recovering from the coronavirus pandemic. This year, we were supposed to see the 2020 Tokyo Olympics and the Euro 2020 soccer competition. But, as you might know, those events got rescheduled for next year. And they weren’t the only ones to receive this treatment. As a result, many sport betting enthusiasts were left on the sidelines.
With little to no real events to bet on, what can you do? You’re probably not interested in sports from a ridiculously far away, unknown country. And maybe you don’t want to wait until the real events finally kick-off. Well, there’s a viable alternative.
Introducing Virtual Sports Betting
It’s no secret that technology has evolved drastically in the past couple of years. Virtual sports betting is the new craze among online betting fans.
Unlike real-world betting, all the events are determined by a powerful, unbiased algorithm. They take place instantaneously. You can fast forward through simulations to see the end result. Or you could sit back, relax, and watch the match unfold in the style of FIFA video games.
Not to be confused with eSports, virtual sports don’t involve real players. Events take place 24/7. No half-match pause, no injured players, and no event limit. Results are instantaneous and you can place numerous bets at a time on multiple matches. You’ll no longer have to wait for the end of the match to see if you’ve won or not.
Is Virtual Sports Betting Rigged?
This is probably the most common question regarding virtual sports betting. Disgruntled betters might find it unfair that a computer decides the outcome of a match.
While the concern is understandable, the arguments are not that solid. The only real argument for this is the concept of “house edge”. If you’ve ever dabbled with slots or card games, you’re familiar with the term. If not, we’ll explain shortly.
Basically, the term describes how much chances the organizer has of winning compared to the bettors. The lower the percentage and stake, the higher the win amount. When the stakes are higher, the house has a bigger chance of winning. Think of a game of roulette. The board seems to be split evenly, with 50-50 winning chances. Red vs black, 1-18 vs 19-36, or even vs odd number.
However, there’s also the 0 and 00 slots. That decreases your chances of winning by a small margin. It might not be much for a single spin, but when the roulette is spun millions of times, the house turns a profit every time. Similarly, that’s also how virtual sports betting works. While the algorithm is truly random, it does take into account real sports issues.
Each of the four runners would have a 25% chance of winning in an entirely random event. However, one runner might be handicapped from a previous injury in a virtual match. You have to know the history of these events to calculate every possibility accurately. A skilled mathematician will always outwit a reckless bettor. And no, that doesn’t mean the algorithm is making active efforts into making you lose.
Virtual Sports Betting Strategy
Complex algorithms manage virtual sports events. Softworks such as Betconstruct products offer opportunities for bettors to make small profits on a long-term basis.
However, keep in mind that the results are unpredictable. Just like in real life, virtual sports are random. There’s no foreseeable pattern to take into account. The key to success is discipline. Don’t bet more than you can afford to lose.
Instead, make small bets on more events. Just like with real-world betting, you should take the stakes into consideration. To give you a more concrete example, you could try the “Weak Team Strategy”. The process involves betting on a team that has lost seven matches in a season. Chances are that they might win the eight one.
Another strategy that tends to work is the “1.5 goals option”. It involves betting a smaller amount. And once you reach a 25% profit, increase your bet. Needless to say, both of these strategies require a lot of patience. Rushing to a bet with all your money in never works. We can’t stress it enough, but discipline is the key.
Virtual sports betting is like a combination of casino games and real-world sports betting.
You’ll need mathematical prowess and good knowledge of odds and chances. With that said, we wish you good luck and a steel discipline if you ever want to dabble in the world of virtual sports betting.