Research shows that virtual sports betting makes up approximately 5% of UK gambling revenue.
So, while not a huge segment of a market that makes more than £15 billion every year, it has become increasingly popular in recent times.
If you create an account with practically any sportsbook apps in the UK, you will find heaps of virtual markets across sports, including horse racing, football, and cricket.
COVID-19 and the rise of virtual sports betting.
One of the main triggers fuelling the growth of virtual sports betting was the COVID-19 pandemic. People were forced to stay indoors, and real-life sports were suspended.
Virtual sports, on the other hand, played out unrestricted on legal gambling websites.
People who regularly bet on real-life sporting events switched their attention to virtual markets, and many continued the practice when the world opened up again.
During a 2022 interview, Virtual Sports Director for Playtech, Richard Andrew, mentioned the inadvertent impact of COVID-19 on virtual sports’ popularity: “Virtual sports has seen extraordinary levels of business in the last two years, especially during the initial lockdowns of 2020. It is a vertical that can now stand on its own,” he said.
Not only can you bet on mainstream virtual sports and races, but you can also bet on motor racing, cycling, and speedway. The recent growth of the virtual sports betting market has been incredible, and horse racing is leading the way.
Virtual horse betting – the role of RNGs
How exactly does virtual sports betting work?
The key to virtual horse betting is random number generator technology, known in the gambling world as RNG.
According to the UK Gambling Commission, random number generation for games and virtual sports must be “acceptably random” with operators able to “demonstrate to a high degree of confidence that the output of the random number generators is random, for example, [via] statistical analysis using generally accepted tests and methods.”
In virtual horse betting, random number generator technology determines the outcome of every race hosted on a betting site. This is also true of greyhound racing and the outcome of any virtual sport that you can bet on online at UK’s gambling websites.
Random number generation software uses complex algorithms to produce random outcomes. These algorithms then simulate the result of the race or match, ensuring that it is 100% random and cannot be manipulated by outside actors.
Are RNGs in virtual horse betting truly random? The importance of independent testing
Organisations like eCOGRA and iTechLabs are responsible for testing the RNG software used by online game operators in the UK and further afield.
In a 2023 interview, eCOGRA’s CEO, Shaun McCallaghan, touched on the crucial role of independent testing and verification in ensuring the fairness of gambling games at online casinos and sportsbooks.
He reaffirmed that the organisation’s goal is to “ensure a regulatory, compliant, fair, and secure online gambling environment for all players”, which “includes assessing the Random Number Generators (RNGs) to verify that outcomes are truly random and not manipulated.”
Therefore, when you play online slot games or place bets on virtual horse races or other virtual sports, you should opt to play at a UKGC-licensed site with its RNGs independently reviewed by eCOGRA.
If you play casino games or place virtual sports bets at an unlicensed betting platform, there’s no way of knowing that the outcome of the race or event is random. In other words, the software could be manipulated to favour the betting site, and you’d have no way of knowing this.
Virtual horse racing: Easy to access, but responsible gambling concerns
The main appeal of virtual horse betting is that it’s available around the clock. You can bet on a virtual horse or greyhound race whenever you log into your sportsbook account.
As you would if you were betting on a real-life race, assess the field, look at the conditions, and consider the odds available to you.
Then, sit back and watch the action as it unfolds. If you win, you will receive a payout, and you can bet on the next virtual race that takes your fancy.
While this convenience is one of the main reasons for the popularity of virtual horse betting, not everyone sees it as a good thing. Some people suggest that it can lead to an increase in irresponsible gambling.
In fact, numerous threads on GamCare – one of the UK’s leading Gambling Support Resources – highlight the issues that punters face with the addictive nature of virtual horse betting.
One poster, @Cross29, opened up about his addiction to virtual racing, admitting: “Today, I lost over a grand on virtual horse racing.”
Undoubtedly, the instant nature of the races and the round-the-clock availability must make them difficult for problem gamblers to ignore. Therefore, if people are to experiment with virtual horse betting and other virtual sports, responsible gambling and using safe gambling tools are paramount.
Virtual horse racing vs real-life racing – Which is more popular?
To sports betting purists, betting on virtual horse racing is unappealing. After all, much of the excitement of sports betting is researching, attending a track, and accessing the best ante-post odds before a race.
Approximately six million people attend horse racing events in the UK each year, while 37% of gamblers state that they have bet on a horse race in the past twelve months.
In stark contrast, research from Statista reveals that less than 0.5% of bettors admitted to betting on a virtual horse or dog race in the past month.
So, while virtual horse racing is more widely available and may have surfed the crest of a wave during COVID-19, it’s nowhere near as popular as betting on the real thing.
Is virtual horse betting worth a punt?
As with any gambling, the decision about whether to bet on virtual horse races is personal. While a purist might scoff at the idea, a passionate online gamer might appreciate the opportunity to bet on virtual races at any time of the day or night.
But one thing is for sure: If you bet on a virtual horse race, do so at a licensed online betting site that has had its random number generation procedures independently tested by a company like eCOGRA.
Due to the addictive nature of virtual horse betting, we also recommend using responsible gambling tools like time and deposit limits to prevent you from spending more than you can afford to lose on these races.
