The demands on the productivity and robustness of metal casting processes for high quality components are continuously increasing. Moreover, the financial considerations necessitate meticulous and reliable planning of the entire casting process before it is actually put into practice. A holistic approach to perform cradle to grave analysis of cast products is simulation-based metal casting. This method allows engineers to model, verify, and validate the process followed by its optimization and performance prediction in virtual reality. This paper provides insights on state of the art in simulation-based metal casting with reference to some case studies. Casting simulations software, mathematical models and solution methods, and casting process simulation together with the results obtained are clearly explained. The current practices revealed extensive utilization of simulation packages for defect minimization, yield maximization, and improved quality. The ongoing research on integration of casting simulations with mechanical performance simulations makes it possible to analyze the serviceability of cast parts. The reliability of cast part in service with dynamic loading of varying thermal and mechanical load cycles can be predicted through this integration. However, more rigorous work is needed in this area, particularly by developing the reliability prediction modules embedded in advanced simulation tools.