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, many punters only ever bet for low stakes.
What’s the Lowest Amount You Can Place on a Betting Site?
The minimum bet varies between bookmakers, and at some site the minimum bet goes as low as 1p. A quick bit of research shows that the the vast majority of high street names have a minimum bet somewhere between 1p and 10p.
It is important to note that this is the minimum bet per line. So if you’re placing a bet that involves multiple lines, such as a lucky 15 or even an each way bet, then the total bet will scale up accordingly. This is how much various bets would cost you, assuming a 1p minimum bet per line.
- Single Bet – A single bet is just one line, so that makes this bet 1p
- Each Way Bet – An each way bet consists of two bets, one to win and one to place. The total cost here would be 2p (1p x 2 lines)
- Lucky 15 – Lucky 15’s are made up of 15 lines, so here the minimum bet you could place is 15p (1p x 15 lines)
- Lucky 63 – As with the lucky 15, a lucky 63 uses 63 lines, making the minimum bet 63p (1p x 63)
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 cards are nearly always your lowest option, but if you are looking to deposit using the likes of e-wallets, the amounts tend to start from £10 rising as high as £25 or £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 varies from bookmaker to bookmaker, but it’s pretty common to see it work this way.
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 a cool half a million pounds. 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 bit horse racing win 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.