The Virtual Grand National – what’s that all about then?

 

With global sport all cancelled for the foreseeable future, the idea that the Grand National would not go ahead for the first time since World War II seemed too much for some to bear. It’s a national institution, a treasure.

 

Step forward an unlikely partnership between Inspired Gaming, ITV and a host of bookmakers to ensure that not only does it go ahead this year, albeit in a rather different guise, but that it will also be run solely as a vehicle to raise funds for another national treasure at their time of greatest need – the NHS.

 

There have been a handful of cynics out there suggesting its nothing more than an opportunity to showcase virtual sports when bookmakers have little else to bet on, but everything I’ve seen from within the industry tells me this is something those involved felt could do some real good at a time of crisis. Of course, getting a bit of good PR for a change is something the habitually press-bashied industry rarely gets much chance of these days.

 

How does Virtual Racing work?

 

Inspired have developed an AI system behind their racing which feeds in the results of all known races in the past, including information about weights carried, going, distance etc. While this is more usually “virtual” information, this time it’s been pointed at the real data from all those horses who were due to run in the race.

 

This information is then fed into their systems in order to produce a huge number of race simulations, which in turn can then predict each runners expected chance of winning the race. Once you have these probabilities, you can assign odds to each runner based on a single running of the race. Even a 100/1 shot wins sometimes (just ask Mon Mome from 2009!), although of course, the shorter the odds, the more likely you are to win.

 

Once provided with the outcome probabilities, bookmakers can choose how much margin to apply to the prices, and what e/w terms to offer. This is something bookmakers usually take slightly different views on, although in the case of the Virtual Grand National they have agreed to offer exactly the same terms and odds as each other to prevent this becoming a marketing exercise amongst themselves and to keep things as clear and pure as possible for punters to understand and engage with.

 

Will it be Live?

No, for production reasons the ITV show has been pre-recorded. Although the virtual running coverage will only have been seen by a handful of very senior television producers, all the subject or strict and legally binding non-disclosure agreements. The bookmaking industry have not been made aware of the outcome. Could that put them at risk? Not really is the answer, stakes on the race have been limited to £10 e/w for any customer for safer gambling reasons, so they are not really at risk of a sting.

 

When is it?

 

It airs at 5pm this evening on ITV, in a 30 minute programme presented by Nick Luck and Richard Pitman

 

Should I get involved?

 

I never thought I would ever advocate a bet on virtual sport, but the answer is emphatically yes, you should!

 

This is the only win-win opportunity you’ll ever get to have a flutter on virtuals – if you win you bet fabulous, you’ve made a few quid to spend on Amazon while you can’t leave the house, while if you lose, you know your money is going to a great cause in their hour of biggest need.  

 

We’re all a bit bored right now, so is there anything wrong with a fun flutter of no more than a tenner on a fun event all in the aid of charity? Not in my eyes.

Enjoy!

'Stattobets' Dave and the Bettingemporium Team