The Difference between Betting Limits and Pay Out Limits
Even if you class yourself as experienced within the betting industry, you may still have some slight confusion on the difference between betting limits and payout limits. This article is going to explain more about what each one means.
Betting Limits
This is the maximum amount you area allowed to wager on one bet. It’s always worth checking out different bookmakers because they will differ between each one. If you class yourself as a high-roller and find your bet is limited, there’s a good chance you can bet a higher amount elsewhere.
Sometimes a bookmaker will limit your account when they feel you aren’t betting responsibly. There’s an opportunity to restrict the amount you can deposit within a certain timeframe, and this can also be a reason your bets are being restricted. Alternatively, a bookmaker may choose to restrict your account if you are winning too much money. This is more common in smaller companies where the damage could be much greater than with larger ones.
Payout Limits
This is the maximum amount that can be paid out in one bet. You will find that this amount varies between each bookmaker and between each sport. For example, at Sporting Bet, the maximum they pay out for a football match is £100,000, while it is £20,000 for an ice hockey match. A bookmaker may also reduce the amount you can win if your bet size is, again, going to result in a huge payout.
When the two mix
Sometimes it’s possible that these two limits will collide in the betting world. For example, a bookmaker you have signed up with has a betting limit of £10,000, and a payout limit of £50,000. If you place a bet of £10,000 on something that is 9/1, you would expect a payout of £100,000. However, you will still only receive £50,000 because that’s the maximum offered.
In the case, the bookmaker may reject your bet initially, or they may accept the bet but only pay out £50,000.
Another example is if you tried to wager £20,000 on the same bet. Either the £10,000 max is accepted by the bookmaker and you will receive £10,000 back in your account; or the bet will be rejected and you will need to adjust your amount.
Take this as an ideal opportunity to get to grips with the difference between both of these limits. It’s a good idea to find out what the terms and conditions are on a certain bookmaker before you place any bets. If you’re a low-stake gambler then you won’t have to worry, but it’s better to be safe than sorry if you’re a high roller and you don’t want to get caught short!
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