With EA’s Need for Speed and countless go-kart racing games, Gameloft’s Asphalt series is a bit easy to overlook, but that would be a mistake. Its newest installment, Asphalt 5, is an awesome arcade racing game for the iPhone and iPod touch. It costs $6.99 and is available for download from the App Store.

Asphalt 5 takes you to a dozen different locations around the world like Aspen, Colorado, St. Tropez and Las Vegas, Nevada as you race more than 30 real-world vehicles from manufacturers like Ferrari, Lamborghini, Audi and Ducati. There are eight different racing events that emphasize different skills and strategies – Drift Contest, Cop Chase, Time Attack, Duel Mode, Last Man Standing and Escape.

Asphalt 5 also sports six-player Bluetooth multiplayer gaming, and online multiplayer gaming.

You can play Asphalt 5 on any iPhone or iPod touch with iPhone OS 2.2.1 or later.