Everyone has the dream to win a jackpot, in one way or another. If you place a weekend bet on the Lottery, high odds accumulator bet, or even enter a raffle competition, you’re dreaming of winning large sums.
If you are trying to earn a large sum through betting, our matched betting website will be useful for you. However, I have drilled this post down for people looking to become more of a professional gambler, instead of sticking to the Matched betting philosophy.
There’s more than one way to win a football challenge bet, and the good news is that you don’t need money to make money.
There are lots of strategies available, which can be started with just a £5 bet.
We are talking about challenge bets, which does have an element of risk to it, as it’s often all or nothing.
Whilst a Challenge bet is my favourite way to mug bet, today we are looking at how we can profit from them.
Whilst we keep our members down the Matched betting route, there are members who like to place the odd challenge bet.
We understand why, as these are quite entertaining, aswell as being lucrative!
It’s the perfect low risk, high reward method to use when gambling.
Let’s get into the best challenge bet tips, including a few little secrets along the way to help you succeed.
Challenge bets have lots of different names, they are often classed as Rolling Accumulators or bank builder bets.
Although they have many different names, the concept is the same.
You start off with a small amount, typically £5-£20.
You will be aiming to stake the entire amount on a bet and when this wins, you do the exact same thing again on your next bet.
This keeps on rolling until you finish the challenge, which could be a £10 to £1000 challenge, but you can set the sights on whatever target you want to.
The most common challenge is the £10 to £1000, but some people aim even higher… looking for £5,000 or more!
The main rule is that you must stake the full amount on one single bet.
It will reach the point where you could be staking hundreds on a single bet, but it’s important to realise that you started off with a small amount, so it’s not your money unless you decide to pause the challenge bet and withdraw.
Challenge betting will never get boring, as there’s so many different challenges that you can run.
This is the nations most popular challenge bet, who doesn’t want to turn £10 into £1,000?
Most people on a weekend will have £10 to flutter on their betting, so why not try and win a challenge bet?
The great thing about the £10 to £1,000 is that you require less wins than you would for a £5,000 or £10,000 challenge. This is part of the reason why it’s more popular, as it’s more achieveable.
The most common method with this challenge is to use close odds, around 1.5 (1/2) and win 12 consecutive bets.
After winning 12 bets at 1.5 decimal odds, you will have achieved the £1,000 target.
You could also take lower odds, around 1.33, but you’d need to win 17 bets to hit the £1,000 target.
It’s important to understand that challenge bets require patience and nerves of steel.
It could be easy to cash out your stake at £500, as that’s £490 profit… Do you cash out? or finish the challenge?
12 bets will also require patience, as it could take you over a week to complete the bet.
It’s very possible to complete the £10 to £1,000 in less bets, but you’d need higher odds… which naturally has less chance of winning.
The £20 to £2,000 challenge is very similar to the £10 one, but it’s aimed towards people who have a slightly bigger bankroll.
Naturally, when you have more money, you stake more!
If you only have £20 to your name, we don’t advise you place a bet at all, although we are talking about challenge betting today, we are Matched Bettors, so we want to protect and build bankroll… not lose it.
If you can afford to lose £20, the potential reward is absolutely fantastic… as the reward is £2,000.
This one isn’t for a challenge newbie. It’s not something that I’ve tried myself.
It’s perfect for a punter who has the patience, who is dreaming of the ultimate betting payout.
It’s very similar to winning a casino jackpot, but I think the odds are about just as likely!
The 300 bet challenge, is where you aim to win 300 bets in a row.
It seems impossible on the surface, but the aim is to place bets on very low odds, 1.05 maximum, slowly building up your betting pot.
The best market to use for this is the Over 0.5 goals market, as you only need a goal & you’re onto a winner.
You can research the games and make your pick, but our pick would be to choose ultra attacking teams like Liverpool, Man City & Barcelona.
It’s also known as the Over 0.5 goals challenge, as you’ll often find that this is the market you choose to bet on.
The rewards from this are fantastic. If you can avoid a 0-0 scoreline in 300 bets, you could have earnt 1 million pound from this challenge bet.
£1,000,000. That’s crazy!
I haven’t tried this myself, as I can’t stomach 300 bets. This challenge could take 3-6 months, depending on the matches you find.
It’s unquestionable though; the rewards are worth the patience!
There are many strategies that you can use for your betting challenge, but research into the football team you’re betting on is equally important.
Form is very important for betting, but it’s also important that your challenge doesn’t end because of an underdog victory.
Now, let’s go back to our challenge bet, the £10 to £1,000 challenge.
Next we need to decide what strategy to use, there’s no point just randomly looking and picking a team off the top of your head, regardless of odds.
This is just plain punting.
Finding a strategy can be the difference between winning a challenge bet, or giving the bookmaker your funds.
Find odds which you’re comfortable betting with. I wouldn’t go above evens for a challenge bet.
It’s important to stick to the odds you select, so my rule is to never go above evens. Instead, I aim for 1.5-1.75 odds.
You must stay consistent with the odds you set. You must remain patient.
If you feel that you are running out of patience, another suggestion is to create a low odds double, which would boost the odds slightly.
A great strategy which we’ve had success with is the over 0.5 goals method, but waiting until half time.
As the odds would have been 1.05 initially, or around this, at half time you would get close to 1.5 for this result.
Yes, it’s risky, as there’s less time for the team to score, but the odds aren’t actually relevant compared to the value on offer.
Another favourite is to bet on the favourite if they are losing, as you’d get better odds.
Yesterday, Man Utd were 1.17 pre game, but Bournemouth scored first.
They shot up to 1.66, but then won 5-2. What a win.
Another favourite challenge bet is the under 6.5 goal challenge.
This will be a long, long betting process.
However, it’s achievable and I have completed a £10 to £100 challenge on this, but didn’t have the patience to continue.
You need to look for low scoring affairs, such as Burnley vs Norwich. The odds for this would be around 1.02, and that’s the type of odds you’ll need to take.
It’s one of those strategies that’s perfect for the 300 bet challenge.
Note, if you would have chosen the Man Utd vs Bournemouth game I mentioned, the bet would have lost.
This shows that it’s really important to do some research. The research would have shown that Man Utd are currently on a high scoring run, definitely a team to avoid.
You need to remember that betting isn’t easy, even though you’re taking odds such as 1.02, it could still lose.
It’s important to remain commited to the task… but mainly patient!
If you only win 2% of your challenge bets, you’ll still be successful long term.
It’s important not to force a bet, if you’re looking through the fixtures and don’t see an ideal bet, don’t bet.
The challenge can wait, as the money can stay in your account.
If you’re risk averse, you could think about cashing out your stake once you’ve doubled it, but that will increase the challenge time as you need to place more bets.
Your main goal with a challenge bet is to have fun. Don’t chase any losses & only bet with money that you can afford to.
Remember, I use a percentage of my profits from Matched Betting to do my challenge bets. They double up as perfect mug bets, as they aren’t close matches & bookmakers love these sorts of bets.
If you’ve been looking for a way to bring more excitement to your bets, a challenge bet is a great idea.
Obviously, the money aspect is also great, as everyone would like more!
There is a challenge bet for everybody, regardless of your bankroll and patience.
We wish you well in your challenges, and hope that you can hit a big win!