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Today’s posting has the objective of analyzing the characteristics of betting on virtual events. Our aim is to eliminate or reduce stereotypes and prejudices.
An internally conducted study has shown that more than 70% of regular punters who engage in virtual sports betting are not familiar with the mechanisms behind a virtual sports bet.
So, how does it work? A virtual sports bet is based on a Random Number Generator (RNG). An RNG is an algorithm that determines the result of the bet. There are two forms of RNGs: True Random Number Generators, and Pseudo Random Number Generators.
In virtual sports betting Pseudo Random Number Generators are employed, because the algorithm is supported by a statistic. Every participant/ runner/ dog or horse gets statistics that are backed with real data about the performance. The better the performance, the higher the possibility of winning a race/ round. Just as sports betting, a virtual sports bet is hence based on realistic odds.
Now let us turn to the aspect of trustworthiness. Can the results of RNGs be manipulated?
The result is generated after the betting market is closed where no more bets are accepted. The RNG generates results in a way that the outcome cannot be predicted! In order to reinforce the aspect of credibility it is indispensable that the RNGs are certified by independent gaming laboratories.
You want to generate your own true random number? Try this online RNG Generator here:
https://www.random.org/
