If you have ever placed a bet it is highly likely that you have dreamed of beating the UK bookmakers and securing a massive win. With that in mind, it is important to know if there any hurdles in your way with regards to trying to secure that life-changing winning return. The terms betting limits and maximum payouts are certainly well worth getting to know, as these can greatly impact your ability to boost your bank balance. The impartial experts at BettingTop10 have saved you time and effort by taking a closer look at just how betting limits and maximum payouts work.
In simple terms, a betting limit is the maximum amount of money that a bookmaker will allow a punter to wager. However, there are two distinctions to be made regarding betting limits which are important to understand if you are thinking of betting with a bookie. These are as follows:
Maximum payouts are the highest amount that a bookmaker will return to a punter if they successfully bet on a particular sport or betting market. For instance, numerous UK Betting Sites implement a £1 million maximum payout on any successful football bets placed on their sites. This generally covers main competitions such as the Champions League, Europa League, Premier League, La Liga, Serie A, Bundesliga, Ligue 1 and so on. Some bookmakers will offer lower maximum limits than £1m on football betting, so it is important to read the terms and conditions on the site before placing any wagers. Similarly, there will also be maximum limits in place right across the sporting spectrum, many of which can be subject to change during the course of the year. UK & Irish horse racing is another great example of maximum limits in action, with plenty of bookmakers implementing a £1m maximum payout on the sport. Other sports like golf, snooker and tennis often have a lower maximum payout limit applied to them, so make sure you are aware of these before betting. Betting Limits, Maximum Payouts & Accumulators Once you have fathomed how betting limits and maximum payouts work, there is another important element to consider – accumulators. Many punters enjoy the thrill of wagering on multiple selections in the hope of securing a life-changing win, but the limits put in place by the bookmaker can potentially impact your return. For example, Manchester City, Norwich City, Luton Town and Lincoln City were collectively priced at 6,325/1 to win their respective divisions in England in 2018/19. If you wagered £200 on those four teams your return should have been £1,265,200, but if you bet with a bookie who had a £1m maximum payout you would have missed out on a huge chunk of money. While massive wins of this nature don’t happen on a daily basis, the example used highlights why it is important to be aware of betting limits and maximum payouts before you place a bet. What Are Pool Bets? A betting pool is a type of wager where punters pay an amount into a ‘pot’ and are paid a dividend based on how many people have made successful predictions. An example of this is the Tote Jackpot, which requires players to pick the first six winners at the designated meeting on a particular day. If there are no winners, the prize pool rolls over to the next meeting and so on until it is eventually won. For instance, one lucky punter scooped £1.45 million for just a £2 stake back in 2011 after correctly predicting the winners of the first six races at Exeter. Had he placed the bet as £2 accumulator with an online bookmaker his projected return of £1,758,276 would potentially have been limited to £1m or maybe less. By placing a pool bet the punter ensured that he received an amount much closer to the actual odds the six winners should have generated. BettingTop10 Team’s Goal The BettingTop10 team’s goal is to help punters avoid being impacted by the obstacles some bookmakers put in their way when they are successful. Betting limits and maximum payouts can certainly be a nuisance in this respect, but by tailoring your stakes and staying within the limits you can avoid being penalised financially. Opening accounts with multiple bookmakers is a great way to get around such limits, as it allows you to spread your wagers across different sites. The last thing you want is to lose any of your winnings if you land a big bet, so follow our advice to take these restrictive limits out of the equation.
