Betting Limits & Maximum Payouts
Bookmakers are allowed to manage their business in any way they like. This can include implementing betting limits and maximum payout rules on the wagers they accept from punters. This can be a limit in place for every single customer that bets with them, or on particular individuals if the bookmaker thinks they are winning too much or wants to limit their bets for some other reason.
Here we will take a look at betting limits, why they may be in place and what to look out for regarding the maximum payout rules which can make it slightly easier for you to win the maximum amount of money.
Betting limits can be put in place in two different ways, the first is that betting sites can restrict you as an individual punter, or the second is that they can put in place a minimum betting amount for every single punter, regardless of whether you win or not.
Minimum Bet to Win Amounts
This is something that some bookmakers are now implementing on certain sports and markets. Instead of completely putting a limit on their winning punters, they will agree to accept bets of a certain amount on selected sports and markets.
For example, selected bookmakers will agree to lay a bet to lose up to £500 on horse racing. So, if you want to bet on a horse that is priced up at 5/1, you will be able to do so up to a maximum stake of £100, even if you are a winning punter and the bookmaker doesn’t want to lay you a bet. Of course, unrestricted punters will be able to place more than £100 on the bet if they wish.
These amounts have come into play to help those punters who are restricted, and show them that they can still get a bet on. It is important to know that these bet to lay amounts that are in place will only cover selected sports and selected markets, and may only be available from a certain time of the day. But other than that, even if you are a restricted punter, you are free to place bets on the available markets that can win you up to the designated amount.
From time to time, a bookmaker will decide to restrict a punter, usually because they are winning too much money. This isn’t always the case though, they also don’t like those who place arb bets and those who are consistently beating the SP on sports such as horse racing and greyhound racing.
While this can be incredibly frustrating for punters, it is the nature of the game we are in, and unfortunately, it is well within the rights of the bookmakers to limit your bets down to as low as they want to, which will effectively mean that they are stopping you from betting with them.
There is little you can do here, and when this happens it is usually time for you to find a new bookmaker. For those who are worried about betting limits being imposed on your account, there is not too much you can do to stop it. The only advice would be to try and not be too greedy when it comes to the amounts you are betting and winning, in the hope of holding onto your accounts for as long as possible.
The vast majority of punters will go through life not being restricted by the bookmakers, but the good news for those who are is that there are many different bookmakers out there to take your business to. While it is not ideal opening a new account, especially if your current one has offers on that no one else can match, it is something you will have to eventually do.
When you are betting with a bookmaker, whether this is a new one or one that you have been betting with for years, you should always know what the maximum payouts are for the sports you bet on. Some people don’t even know they exist, while others think they are the same across every sport but this is wrong, and you could find yourself making betting needlessly harder for yourself by not knowing the payout rules.
There is also the chance that you land a big win and not get as much as you were expecting to win, because of these payout rules, which would lead to huge disappointment on your part. The maximum payouts will be listed in the help section of your bookmaker’s website. These will vary depending on the sport and with many bookmakers, it also depends on the market you bet on too.
Why is it Important to Know About Maximum Payouts?
There are two reasons, and one can change the way you bet to give you more chance of winning, which shows how important this is.
The first reason you need to know about maximum payouts is so that you never place a bet where you could win more than the maximum. This is pointless, and you are making your bet harder to win without being able to get the advantage of a bigger payout. If you add two selections too many that take you over the maximum then you have two extra games in your bet that you don’t need to worry about.
The second reason to know about these restrictions is to avoid disappointment should you have a winner. If your bet shows a huge win but the restrictions mean you will get a smaller amount, you are going to be disappointed and you don’t want to feel that. If you bet on smaller niche sports or smaller markets then it is likely that some bookmakers will have smaller maximum payouts that you think, so even if you are not a huge punter then you are best checking these just in case they cover the type of bets and amounts that you are used to placing.
OUR OVERALL CONCLUSION ON THE SPORTSBOOK