One of the best things about the gambling industry and one of the reasons why it’s so popular is that you can start betting with just a penny if you like. There are bets that you can place that aren’t going to break the bank and can genuinely enhance your bankroll.
You often hear in the media about people wagering tens of thousands on a horse race like the Grand National or if you watch films like James Bond, you see people betting for millions, but the reality is that you don’t need an awful lot get started and, in fact, you can still make a decent amount of money even from low stakes.
What’s the Lowest Amount You Can Place on a Betting Site?
The reality is that there is no minimum bet that you can place with pretty much all bets starting from as little as 1p. The minimum bet amounts will range for each bookmaker though, whilst one might be at 1p, it’s generally considered that most are at 10p though. Here’s a look at some of the major sportsbooks and their minimum bet amount:
- Betfred = 1p
- BetVictor = 5p
- Coral = £1
- Ladbrokes = 10p
- Paddy Power = 10p
- Unibet = £1
- William Hill = 3p
As you can, the amounts can vary quite a lot, even with the higher profile names within the industry. You will notice that there are a few in there that are up to £1, but we can state that this is quite rare and even though both Coral and Unibet are recognised as bigger than average bookmakers, it’s still rare to see it this high.
How Do You Get the Most from Your Money?
We’re going to assume that you’re either new to online betting and you want to keep investments to an absolute minimum or you’re just keen with your money and don’t like to have too much at risk at any one time. Either way, contrary to what most will tell you, both are totally fine and, to be honest, this is where most people will start their betting journey
Taking on Lower Priced Bets
There are numerous ways that you can get the most from your money by betting low stakes. The first is taking on lower priced bets, which may include things that are even money or shorter and more likely to be odds on than anything. These are results that are likely going to happen, so by placing these bets, you aren’t going to win huge amounts, but the frequency in the amount that you are going to win will be high. This is great way for people looking to get the most out of a small bankroll.
Whilst the above method is great for maintaining a bankroll, if you are looking to increase your bankroll as a start to maybe potentially bet larger sums of money, then you need to be a little bit more creative.
The best option for this has to be accumulator bets. These are bets where you combine several different bets and create one bet. They work simply by multiplying the odds of each bet to create a single bet. For the bet to win, you need each selection of the accumulator to win and then it pays out at the odds taken prior to the bet.
For example, if you include 5 bets at odds over 2.00, then you do 2*2*2*2*2 which would equal odd of 32.00. As you can see, all of a sudden, the odds have sky rocketed given the number of selections you have included. Whilst these bets are hard to land, when they do, they are highly lucrative and are very popular bets right now.
In the same way that accumulator bets work, you have full cover bets, such as the Lucky 15. This is where you have a number of bets creating one bet, then you add in selections for that bet. So, a Lucky 15 would be made up of 15 bets in total from 4 selections. The bet includes 4 singles, 6 doubles, 4 trebles and a 4-fold accumulator.
These work well as you don’t need all 4 results to return a profit, unlike an accumulator bet. You can even have just 1 of your selections win to at least return something and then the more that win, the higher the payout.
Jackpots & the Pools
Finally, we have to mention things like betting jackpots and the pools. These are low stakes bets (sometimes free) and can pay out huge sums of money. Coral probably have the most popular football jackpot right now and from it you need to pick the result from 15 games.
The game costs just £1 to enter, but you can add in more lines, which covers more results to see a return. If you manage to bag all 15 results then you get paid out a £100,000 jackpot, which is never a bad return for just £1.
What’s the Least You Can Deposit?
Deposit amount and bet amounts are different with pretty much all bookmakers. The minimum that you can deposit will range, but it usually starts from around £5-£10 with most of the major online bookmakers these days.
However, the amounts will different with each payment method. Debit and Credit cards are nearly always your lowest option, but if you are looking to deposit using the likes of e-wallets or pre paid cards, the amounts can be anywhere from £10-£50 with some bookmakers.
It’s also worth noting that minimum deposits and withdrawals don’t always match up. More often than not the minimum withdrawal will be higher. So, if the minimum deposit is say £10 for example, they may state that you can only withdraw £20 or more. Again, this caries from bookmaker to bookmaker, but it’s pretty common to see it work this way.
Should I Get a Deposit Bonus?
You’re going to find that pretty much all online bookmakers are going to offer you some form of deposit offer when you register a new account. Whilst we would usually say that yes, you need to get this from the bookmaker, if you are looking to bet on a shoe string at the minimum amounts, then it might not always be the best decision.
What you will find is that most bookies give you some sort of bet x, get x offer. For example, this might be a bet £10 get a £10 free bet. However, some bookies may allow you to deposit less than the offer starts at. So, using the bet £10 get £10, the bookmaker may have the minimum deposit set at £5, which means if that’s what you want to deposit, you can’t claim the offer.
We would probably at this point encourage you to up your minimum deposit to get the offer though or at least hunt of bookies where the offer matches the minimum amount. The fact of the matter is that you’re going to be able double (or more) your bankroll straight from the start. Given that a lot of offers are now very user friendly, we would heavily encourage you to take advantage of any welcome or bonus offer that you can get your hands on.
What Can You Win from Small Stakes?
As we’ve eluded to a few times already in this article, just because you bet small, doesn’t mean you can’t win big. In fact, some of the biggest wins in online betting history have come from small accumulator bets. Here are some of the biggest:
£500,000 from 30p
One lucky punter was able to bag an amazing £500,000 from just a 30p accumulator bet. The bet included 15 games from the Champions League game week and bagged the Manchester United fan from Lichfield the life-changing sum of money. The odds for the bet were a staggering 1,666,666/1.
£93,944 from £2
Another accumulator win came about in 2015 when Dean Clay bagged just over £92,000 from a 14-fold accumulator bet. The bet was made on the Coral football jackpot. What makes the story even more amazing is that initially he thought he had won £68,000, but when he entered his local Coral bookmaker to claim his prize, he was informed that the amount was actually £92,000.
£1 million from 50p
One of the biggest and most famous wins was that of Fred Craggs when he bagged an astonishing £1 million back in 2008. Craggs had included 8 horses from 8 races and 8 different race tracks that day. As the horses were ticked off, he was sat waiting for the 2/1 shot from Wolverhampton to complete the amazing feat, which duly romped home. Fittingly, the winning horse was named “A Dream Come True”.
£1.45 million from £2
Another horse racing winning came in the form of Steve Whiteley as he cashed for a cool £1.45million in 2011 and is the biggest win on our list to date. The final horse of Whiteley’s 6 horse jackpot bet was won by a horse called Lupita. It was Lupita’s first win in 26 starts and also his final ever win as well.