The Magnum Cup Series takes place on Monday nights using the RFactor software along with the 2012 VHR edition.  Servers are up 24/7 to allow drivers to practice on the actual servers.  For the scheduled event, official practice begins at 7:15pm EST with qualifying to take place at 8:45pm EST.  At Easter Break in the 2012 season, the series will switch over to the 1.1 edition of VHR 2012.  The Cup series runs a 33 event schedule with American and Canadian holidays marked off.  Using fixed setups with some allowed adjustments, drivers will compete with the 2012 Sprint Cup points system and for the "Chase for the Magnum Cup".  Those drivers outside the "Chase" will compete for the "OOC Championship".  The two top drivers in the Chase, and the OOC winner are awarded at season end at the Awards Ceremony that takes place in December.

The Cup Series also included the "Good Hands Award" which recognizes the driver with the least amount of incidents to promote safe and courteous racing as well as "Pole Position" for the driver who takes the most poles in the season.

The Magnum Cup runs with a race length equal to 45% of the actual Sprint Cup races and 60% damage.  Tire and fuel settings are set at 2X making pit stragedies essential.