Maximum Bets Query

[Elbarto]

OK its late at night and this is probably a stupid question that i just havent thought of the logical answer. However i shall ask it anyways i hope to not look as stupid as im feeling right now (1:34 Friday Morning).

Anyways to the question, Paddypower, Ladbrokes, William Hill etc... all have a maximum payout limit for each event racing soccer snooker etc... On Ladbrokes their Horse Racing Maximum Payout in a single day is £250,000.
However if for example i want to make the maximum amount on a single horse racing bet why is the maximum i can put on a 5/1 horse (for example) only £1200 roughly, is this calculated on the amount of money i currently have in my account, so i dont run up a major debt and then not pay it? or are they just being mean by not wanting me to make my dream £250,000 in one race.

Hope i have phrased this correctly enough for people to understand.

[presto]

the maximum payout (£250k) i think is mainly to avoid massive payouts on £1 accumulators.

the max bet they will allow you (£1200) is nothing to do with your account balance - (bookies legaly can't give credit). i think they limit bet size (internet) so that they don't take too big a liability on a certain selection. on non horse racing markets they will often alter the odd's after a few big bet's.

sometimes winning account's max bet's are limited, as bookies don't like winners.

that's what i think anyway. or i could be talking crap :D

[silax]

yeah presto thats about right if you keep winning they limit your stakes.
i was on cloud 9 when they did this too me. it dosen't take a lot for you to start getting recognised either i opened an account with ladbrooked turned £10 into £300 and wham bam i was restricted as to how much i could put on on early prices they would let me put more on if i took sp.
i think i sent them an e-mail saying forget it i'll use the exchanges from now

[Elbarto]

Ok thanks for clearing that up for me. One other quick question though, will any of the major online bookies restrict you to just one single maximum bet at the £1200 price for example or can you put on multiplie bets at this price all on the same horse in a single race??
So if a horse is 3/1 and i want to make £10,000 but the maximum i can put on a horse to win is 1200. So will they allow me to put on 3 win only bets of £1200 each??

[MattR]

Normally you'll find that's the maximum. Corals if you go back in on the bet having bet less than the maximum the new maximum showing will be the original maximum minus what you've just bet. Though they do say on the bet slip if you put more in it will go to a live trader so you may get more accepted.

[Elbarto]

Well ah shucks there goes my dream of putting £100,000 on the one and only Moscow Flyer to win next years Queen Mother Champion Chase. I need to win the lotto first though to be able to put that bet on but ill have to live and hope

[Thierry Henry]

Well ah shucks there goes my dream of putting £100,000 on the one and only Moscow Flyer to win next years Queen Mother Champion Chase. I need to win the lotto first though to be able to put that bet on but ill have to live and hope

You can get that amount on the horse on Betfair no problem mate!

[Elbarto]

You can get that amount on the horse on Betfair no problem mate!

Yea i was thinking about that but it feels much better to take a quarter of a million of a global bookmaker than it does off any joe soap

[TheOldhamWhisper]

Yea i was thinking about that but it feels much better to take a quarter of a million of a global bookmaker than it does off any joe soap

For that sort of amount to be taken, several of the BIG bookies will have a slice of it along with many 'track bookies'. Plenty of the money would be provided by the general punter but they'll be more than happy to take your money if it loses, so don't feel guilty in any way!

[Elbarto]

Just been having a think, do bookies on the street accept more money bet wise than online bookies?? Ok to phrase that using proper english, with online bookies most have a set maximum limit you can put on a horse in a race. Do the street bookies have the same rules or are they more daredevilish???

[GlosRFC]

They'll all have limits. The major chains (i.e. those that probably also have a web portal) will probably have the same limits as advertised on their site. The smaller independents will have smaller limits.

[Merlin]

Same rules Bart.......the street bookies are mostly the same as the online bookies, regarding organisation and liabilities....the math is the same whether your on AOL or in the high street......

[Elbarto]

Awh shucks, have to come up with another way of taking money off em LEGALLY!! Even still i suppose a thousand or two a day would mount up over the summer months. Beats working in Tescos for €7.80 an hour. Thanks BIG TIME for the helps guys and gals