Damn I thought there was a thread about this. It must have disappeared. You start with 500 and if you lose it all, when the next event comes out you get 100 back.
To place a bet you just go to the vbookie forum and see what events we have odds up for and you can place a bet and then after the fight you will possibly win more vdollars.
It doesn't really do anything but let you see how you would fair in betting real money. So far I have learned that if I bet with real money, I would be living in a cardboard box right now.