What are Maximum Payouts and How do they work?
Some online betting sites impose maximum payout limits - let's see who does it and why.
Introduction into the maximum payouts from bookmakers
In the world of sports betting, it’s very common to hear about players and punters receiving lesser payouts from their total winnings. This is largely because of the maximum payout limits imposed by online betting sites.
In most online betting sites, there is a limit imposed on the maximum payout provided to a punter. These payout maximums can differ from one bookmaker to another, with bigger bookmakers offering higher payout maximums. The payout limits among different events on the same betting site can also vary, with those for novelty events going as low as a few hundred pounds.
You don’t have to be a high-stakes player to encounter such problems with payout maximums. If you place a large accumulator bet, you can easily end up hitting the payout limit. This is especially true for mixed sporting events, where your winnings will be capped at the sport with the lower payout maximum.
Maximum payout explanation
A maximum payout refers to the maximum amount of money that will be given for a particular market or sport for a winning bet. Many punters often get confused between payout maximums and betting limits set by bookmakers. The fact is that betting limits and payout limits are vastly different from each other (which we’ll cover later in this article).
Different bookmakers employ different strategies for protecting their interests. Some impose limits in the form of a maximum payout, while others impose betting limits, which prevent the punters from ever reaching a maximum payout. This can be better understood with the help of an example –
A bookmaker can state that the maximum bet you can make on a Premier League match is £10,000. However, this might not be considered the best approach. So they set the maximum payout limit as £50,000. For this, the punter would have to use the maximum odds at stake rather than just the odds at stake. This approach does not only sound better, but it also makes the subject more transparent for everyone involved.
A famous case of punters reaching the payout maximum happened in 2015 when Leicester City FC won an impossible title. This win is known to cost the betting industry over £25 million in the form of payouts. So it makes sense for bookmakers to keep certain limits on the maximum payout.
Why do bookmakers put maximum payout limits?
Whether we like it or not, bookmakers will look out for their interests. This means that they will have margins around every bet that you place. They also have systems to ensure that they always remain in profit (in the long run), no matter the outcome of an event.
A bookmaker would always want to ensure that they never have to pay a large sum of money that will put them at the risk of financial ruin. A maximum payout limit protects the bookmaker from such a situation. However, there are several other benefits of it too.
The biggest benefit of payout maximums is that the likelihood of match-fixing would be very less. For example, if some high-stakes punters are even able to manipulate the odds, they know that would end up losing money because of payout maximums.
Maximum payout limits will not affect the type of bets a punter can receive. For example, if a bettor places a £100 bet at the odds of 1,000/1, the payout from this will be the same amount as a £50,000 bet. This means that bookies will keep both the regular bettor and the high stakes punter satisfied with the payout, while limiting their liability.
Bookmaker Maximum Payouts
When it comes to payout limits, the two sports you would want to look at are Football and Horse Racing. Certain football tournaments and top league matches like the Champions League are known to offer the biggest payouts. The maximum limits on horse racing are also in line with football’s top limits.
Let’s take a look at the maximum payout levels offered in both these sports by major bookmakers –
Bookmaker Football Horse Racing
William Hill £2,000,000 £2,000,000
Coral £1,000,000 £1,000,000
Paddy Power £1,000,000 £1,000,000
BETDAQ £1,000,000 £1,000,000
Betfair £1,000,000 £1,000,000
Ladbrokes £1,000,000 £1,000,000
Betfred £1,000,000 £1,000,000
Unibet £1,000,000 £100,000
BetVictor £500,000 £500,000
SportNation £500,000 £250,000
BoyleSports £500,000 £500,000
888sport £250,000 £100,000
STS £250,000
Betgoodwin £100,000 £100,000
10Bet £100,000 £100,000
EnergyBet £75,000
PariMatch £50,000 £100,000
QuinnBet £40,000 £40,000
NetBet £20,000 £20,000
If you like to place bets on the top-level football leagues, it would be a good idea to check out the payout limits offered by these bookmakers. The markets you choose for your bets are just as important. This is because, in some cases, big payouts are limited to the match results or some other lines. If you decide to place handicap bets, over/under, or special bets, the maximum would be lower.
As for horse racing, if you are interested in betting on foreign racing events or horse racing variants, their payout limits are known to be lower. So it would be wise to check them out beforehand. For certain bets like ‘to place’ and ‘to win’, the payout limit would be higher, while the special bets would come with a lower limit.
Difference between Payout Limits & Stake Limits
Many punters often get confused between payout limits and betting limits. The two are very different from each other. To put it in simple terms, the betting limit is the maximum amount you can lay with a bet. The payout limit, on the other hand, is the maximum amount a bookmaker will payout for a win.
Certain betting sites employ betting limits to ensure that you don’t end up staking more than you can win (potentially). The betting or stake limits are designed in such a way that the punters would not be able to approach the maximum payout restrictions.
In bets with a normal range of odds especially, you wouldn’t be able to place a wager that that results in a huge payout that reaches the threshold. Only VIP players and those with pre-existing arrangements with the bookie will be able to place large bets.
If you are a high-stakes bettor, you would most likely have an established relationship with the bookmaker. However, if you’re just starting out in the world of betting, it’s important to pick the right site for betting. Also, make sure that you get in touch with the bookie in advance so that your stake is accepted and the payout honoured.
If you place bets at a fairly low level, but with high odds, then you are likely to encounter payout limits. This is the situation in which most punters get caught. If you like to place large accumulator bets, it's best to familiarise yourself with the bookmaker’s terms and conditions.
Now, let’s sum up Stake Limits and Payout Limits, so that you can better understand the differences between the two.
· Betting/Stake Limit: This refers to the amount a bookmaker is willing to accept for a certain bet. The stake limit is usually outlined in the terms and conditions of most major bookmakers. Many bookmakers also have the betting limit coded in their stake, which makes it impossible to bet more than this amount. The actual amount for betting limits often varies from one bookmaker to another.
· Payout Limit: Payout limits are vastly different from betting limits. It refers to the maximum amount that a bookmaker agrees to pay for a single bet on their platform. The payout limit is usually capped according to the different sports, but can differ on the basis of bet types too. So, it is essentially the maximum amount you can win from a market or sport.
Stake limits and payout limits differ because they are not linked. In some cases, the bookmaker will accept a bet that is over the maximum stake amount, but it will refuse to pay if the payment exceeds the payout limit.
How can you place bigger bets?
You might be wondering – how can I overcome the betting limits to get the payout that I want? It is certainly possible to do this, but you will have to work for it.
The best way to go about it is by spreading your stake amount across numerous bookies. Firstly, you will have to find out the maximum payout limit set by each bookmaker. Thereafter, you can calculate how much you’ll be staking with each bookmaker to stay within their payout limits.
This is a common method used by many professional bettors to get the maximum advantage from their bets. They also like to target markets and sports that are not really mainstream. However, the downside is that the limits imposed on these markets and sports are much lower, which means that you would have to spread the bets more.
Another great way to overcome stake limits is through betting exchanges. Betting exchanges allow you to bet with other bettors and not with the bookmaker directly. This means that the only limit you’ll encounter is liquidity (the amount of money currently in play).
On betting exchanges, you will be able to see the limits easily and also the money tied to that price. As a result, you won’t encounter any surprises when it comes to payouts.