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Most bookmakers place a limit upon the total pay-out they will provide to punters rather than on the total amount you can bet in the first place.
The limits which bookies do place upon pay-outs – and in some rare cases on stake amounts – do differ from one bookmaker to another.
Maximum Bet Amounts At Online Bookmakers:
The following table shows the maximum bet and pay-out amounts at online bookmakers:
| Bookmaker | Max Payout | Review Rating |
|---|---|---|
| Bet365 | £2,000,000 | |
| William Hill | £2,000,000 | |
| Betfair | £1,000,000 | |
| Betfred | £1,000,000 | |
| Coral | £1,000,000 | |
| Paddy Power | £1,000,000 | |
| Betfred | £1,000,000 | |
| Ladbrokes | £1,000,000 | |
| Betvictor | £500,000 | |
| Boylesports | £500,000 | |
| 888Sport | £250,000 | |
| Unibet | £250,000 |
Note: max payout amount varies by sport, above we have listed the biggest payouts possible across all sports.
What is the maximum stake for online bookmakers?
The maximum stake for online bookmakers varies from site to site as some use a max stake and some use a max payout amount. Technically Bet365 have the highest as their max payout is £2,000,000 so you could bet £1,000,000 at evens on their site. See our table for all limits.
Why Max Pay-Out Not Max Bet?
What Is The Maximum Stake On Bet365
As we mentioned above, most bookmakers limit the maximum pay-out which they will provide rather than the maximum stake amount which they will accept. There are a number of reasons for this:
- Protection against pay-outs large enough to potentially cause financial damage.
- Protection against match fixing (less popular sports often have smaller max bet and max pa-out limits).
- Prevents odds manipulation by high stake punters and other bookmakers.
- Still allows them to take large bets at smaller odds – £100 at 1000/1 much less appealing than £50,000 at even money but bets have same payout.
What Are the Biggest Ever Bets?
On occasion punters do come up with monster bets which payoff big time!
The following five are some of the best examples of past bets which rank among the largest ever, in terms of either initial stake or eventual pay-out:
1. Leicester City Win The League
At the outset of the 2015/16 Premier League season you could get the same odds on Leicester City winning the title (5000-1) as you could on Elvis being found alive.
A number of devoted Foxes fans staked their hard earned cash on their beloved side, however, and Leicester's ultimate victory is believed to have cost UK bookmakers in the region of £25 million.
The largest individual pay-out amongst that total is believed to be £100,000 paid to a punter in Manchester who bet £20 and resisted the urge to cash out.
2. Saints Take Super Bowl XLIV
Ahead of Super Bowl XLIV pretty much every expert, analyst and fan fancied the Indianapolis Colts to beat the New Orleans Saints. Infamous Las Vegas professional gambler Billy Walters, however, had other ideas.
He backed the underdog Saints to the tune of $3.5 million and whilst exactly how much he won when they did triumph is unknown, it is likely to have been an extraordinary amount.
3. Monty's Pass Wins the National
Blackpool born Mick Futter, an owner of numerous bingo halls in Britain and Ireland, made headlines in 2003 thanks to the exploits of his horse Monty's Pass in the Grand National.
Futter and the other four co-owners of the horse placed numerous bets of £5,000 and £10,000 at 33-1 and 20-1 respectively, and duly received well over £1 million when Monty's Pass was first past the post.
4.‘Money' Mayweather
In 2015 boxer Floyd ‘Money' Mayweather took to social media site Instagram to boast about his sports betting exploits. Over the course of four days, Mayweather had staked a total of $350,000 on a combination of NBA games and a middleweight boxing bout.
The four separate bets all paid off and ‘Money' revelled in revealing that he had received winnings totalling $827,272.73.
5. Frankie's Magnificent Seven
A feat which has spawned its own online casino game, when Frankie Dettori won all seven races on the card at an Ascot meeting in 1996, he also won punter Darren Yeats some serious dough.
A dedicated gambler from Morecambe, Yeats placed a total of £59 on Dettori's seven mounts and once the Italian completed his 25,000-1 seven timer, he collected £550,000 from the bookies.
Related:Which bookmaker has the maximum deposit limits?
Proportional Staking
This involves increasing your stakes proportionately to how 'wrong' you think the odds are. In a very general terms, if a horse is $7.00, when you think it should be $5.00, you might have $10 on it. But if the same horse were $12.00 then you should increase your bet size.
For many punters, this can feel counter-intuitive. Betting at bigger odds means that you don't have to put as much down to get an attractive return, so why would you risk more? And anyway, don't the bigger odds mean that you stand less chance of winning?
Well, in some respects, yes. But the point is that, as a punter, you have to strike when things are most in your favour. If you were offered $2.10 on a single coin toss, you might be tempted to have a bet. If you were offered $3.00, wouldn't you bet more?
The question becomes, then: how much more?
Minimum & Maximum Stake Limits
The issue with betting big when the odds are most in your favour means that it can only take a run of a few losing bets – which will happen no matter how much the odds are in your favour: heads sometimes comes up ten times in a row – to completely wipe out your betting bank.
To combat this, most successful punters operate some kind of system where they have a minimum and maximum stake limit – say $10 to $40 – and they select the size of bet depending on how much value they think they are getting. In these cases, the upper limit usually represents a chunk of their betting bank in the range of 2% to 5%. This means that they can endure a losing streak without having their funds wiped out. How big a percentage you are prepared to risk on your biggest bets will depend largely on your attitude to risk, but once that upper limit is set, stick to it.
Note: max payout amount varies by sport, above we have listed the biggest payouts possible across all sports.
What is the maximum stake for online bookmakers?
The maximum stake for online bookmakers varies from site to site as some use a max stake and some use a max payout amount. Technically Bet365 have the highest as their max payout is £2,000,000 so you could bet £1,000,000 at evens on their site. See our table for all limits.
Why Max Pay-Out Not Max Bet?
What Is The Maximum Stake On Bet365
As we mentioned above, most bookmakers limit the maximum pay-out which they will provide rather than the maximum stake amount which they will accept. There are a number of reasons for this:
- Protection against pay-outs large enough to potentially cause financial damage.
- Protection against match fixing (less popular sports often have smaller max bet and max pa-out limits).
- Prevents odds manipulation by high stake punters and other bookmakers.
- Still allows them to take large bets at smaller odds – £100 at 1000/1 much less appealing than £50,000 at even money but bets have same payout.
What Are the Biggest Ever Bets?
On occasion punters do come up with monster bets which payoff big time!
The following five are some of the best examples of past bets which rank among the largest ever, in terms of either initial stake or eventual pay-out:
1. Leicester City Win The League
At the outset of the 2015/16 Premier League season you could get the same odds on Leicester City winning the title (5000-1) as you could on Elvis being found alive.
A number of devoted Foxes fans staked their hard earned cash on their beloved side, however, and Leicester's ultimate victory is believed to have cost UK bookmakers in the region of £25 million.
The largest individual pay-out amongst that total is believed to be £100,000 paid to a punter in Manchester who bet £20 and resisted the urge to cash out.
2. Saints Take Super Bowl XLIV
Ahead of Super Bowl XLIV pretty much every expert, analyst and fan fancied the Indianapolis Colts to beat the New Orleans Saints. Infamous Las Vegas professional gambler Billy Walters, however, had other ideas.
He backed the underdog Saints to the tune of $3.5 million and whilst exactly how much he won when they did triumph is unknown, it is likely to have been an extraordinary amount.
3. Monty's Pass Wins the National
Blackpool born Mick Futter, an owner of numerous bingo halls in Britain and Ireland, made headlines in 2003 thanks to the exploits of his horse Monty's Pass in the Grand National.
Futter and the other four co-owners of the horse placed numerous bets of £5,000 and £10,000 at 33-1 and 20-1 respectively, and duly received well over £1 million when Monty's Pass was first past the post.
4.‘Money' Mayweather
In 2015 boxer Floyd ‘Money' Mayweather took to social media site Instagram to boast about his sports betting exploits. Over the course of four days, Mayweather had staked a total of $350,000 on a combination of NBA games and a middleweight boxing bout.
The four separate bets all paid off and ‘Money' revelled in revealing that he had received winnings totalling $827,272.73.
5. Frankie's Magnificent Seven
A feat which has spawned its own online casino game, when Frankie Dettori won all seven races on the card at an Ascot meeting in 1996, he also won punter Darren Yeats some serious dough.
A dedicated gambler from Morecambe, Yeats placed a total of £59 on Dettori's seven mounts and once the Italian completed his 25,000-1 seven timer, he collected £550,000 from the bookies.
Related:Which bookmaker has the maximum deposit limits?
Proportional Staking
This involves increasing your stakes proportionately to how 'wrong' you think the odds are. In a very general terms, if a horse is $7.00, when you think it should be $5.00, you might have $10 on it. But if the same horse were $12.00 then you should increase your bet size.
For many punters, this can feel counter-intuitive. Betting at bigger odds means that you don't have to put as much down to get an attractive return, so why would you risk more? And anyway, don't the bigger odds mean that you stand less chance of winning?
Well, in some respects, yes. But the point is that, as a punter, you have to strike when things are most in your favour. If you were offered $2.10 on a single coin toss, you might be tempted to have a bet. If you were offered $3.00, wouldn't you bet more?
The question becomes, then: how much more?
Minimum & Maximum Stake Limits
The issue with betting big when the odds are most in your favour means that it can only take a run of a few losing bets – which will happen no matter how much the odds are in your favour: heads sometimes comes up ten times in a row – to completely wipe out your betting bank.
To combat this, most successful punters operate some kind of system where they have a minimum and maximum stake limit – say $10 to $40 – and they select the size of bet depending on how much value they think they are getting. In these cases, the upper limit usually represents a chunk of their betting bank in the range of 2% to 5%. This means that they can endure a losing streak without having their funds wiped out. How big a percentage you are prepared to risk on your biggest bets will depend largely on your attitude to risk, but once that upper limit is set, stick to it.
Kelly Criterion Staking Strategy
One way of becoming ever more sophisticated in this bet-more-when-the-odds-are-in-your-favour approach is to adopt a strategy known as the Kelly Criterion. This was developed by a mathematician called John Kelly in the 1950s. Under analysis it has shown to be an effective way of maximising profit when operated in conjunction with a successful selection strategy.
The Kelly formula is: (BP-Q) / B
Where:
B is the odds you are getting. With decimal odds, you need to subtract 1.
P is the likelihood of the bet winning.
Q is the probability of losing, or 1 – P.
If you thought a horse should be 1.60 (which translates to 62.5% in probabilistic terms, (1/1.60)), but it was available to back at 1.70, then the sum would look like this:
((.70 x 0.625)-0.375) / .70 = 8.93%
Meaning that you should place 8.93% of your betting bank on the outcome.
However, the example above throws up a couple of immediate concerns: the size of bets that can be recommended and the need for an accurate prediction of probability.
Betfair Maximum Stake Limit Rules
Size of Your Bets
First, and most pressing, is that when the odds are really in your favour, the Kelly Criterion calls for you to bet significant portions of your betting bank, which is difficult to swallow for even the most aggressive punters, no matter what the mathematical proofs may tell them. To guard against the volatility that the Kelly Criterion can bring to their betting bank, most successful punters using the approach will either set a maximum upper limit for their bets, or always bet a fixed fraction of what the formula suggests.
Part of the reason for this is that the Kelly Criterion relies on a mathematically certain prediction of chance, and whilst this can be provided for a coin toss, accurately assessing the chance of a sporting outcome is usually fraught with a greater degree of uncertainty.
Accurate Prediction Models
Whether adopting a full or partial Kelly approach, or a simpler bet-more-when-the-odds-are-in-your-favour approach, the fact remains that all staking strategies are useless unless you have reliable ways of working out what odds a sporting outcome should be.
There are lots of ways to do this – with the use of ratings systems being the most popular – but this should be the challenge that punters take on before they worry about staking strategies, no matter what the internet forums might suggest.
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