Is it possible to mount a DVD iso to look like it’s a DVD drive

I have an old game DVD (Chessmaster 9000) that I bought legit (I swear), and I would like to play it on my Mac Air, which has no optical drive. With another game (Civ V) I've had success data-dumping the DVD to an iso in linux, and then mounting the iso on the Mac Air. But Chessmaster 9000 is the kind of game that needs the disc in the drive to play. Having the iso mounted is not enough.

Is there a way to convince the Mac Air that it has a disk in a drive? My best hunch so far is that if it is possible, it involves a vndevice command, but I have had no luck so far, and documentation for it is very thin on the ground. I'm looking for the magic to make this work via a low-level command-line, rather than the commercial (but cheap) software that is available in one answer.

• It looks like it requires writing your own low-level driver for the fake device. In other words, worth $10 to me! Accepting @Guido's answer.