Interesting jackpot facts to ponder next time you wager: Part Three - Betting

From picking six winners at the races to an eight-horse accumulator and betting on Frankie Dettori winning all seven races in a single day

Over the last fortnight, we have taken a closer look at some of the facts and figures to do with the big money world of progressive jackpot slots and national lottery games across the world.

Some of the prizes that have been won are truly eye-opening and would certainly change anybody's life for the better.

This week though, we are going to take a look at the world of sports betting and how some punters have managed to turn a relatively small bet, into a massive return (including some of those who have just missed out on a massive life-changing win by the smallest of margins).

Online sports betting is of course a huge industry across the globe particularly in Europe, Asia and Australia where every year billions of pounds are bet on a huge range of sporting events across the world.

Bookmakers offer a massive range of different bets to tempt players to place a bet with them and while most of these markets tend to offer generally smaller returns (anything below 10/1 or under) there is a way to combine selections and vastly increase the potential win from a single stake wager.

These bets are called accumulators, or accas for short, or multis in Australia, and these types of bets are the cornerstone of the sports betting market for those punters who want to risk a little money, for the chance of winning big.

How does an accumulator bet work?

There's a big clue in the name of an accumulator bet that gives away how this type of bet works. Essentially, it is a multiple selection bet which sees the stake plus the winnings from a successful bet, all riding on the outcome of the second selection and so on. Each selection of an accumulator bet must win for the bet to be successful.

I'm going to use British pounds as an example, but you can substitute in your own currency and the process is still the same.

For example, if a punter placed a £10 bet on an accumulator of four selections, each selection being a 10/1 chance, then due to the wager accumulating with each successful bet, the punter would earn a total return of £146,410 if all four selections were successful.

Of course, the chances of landing four 10/1 shot bets successfully in a single bet are very small, so punters seek to earn big winnings by adding more selections to their bet, but at a significantly lesser price.

Therefore accumulator bets typically see a string of lower priced odds bet strung together in succession and each one needs to win in order for the bet to be successful.

In horse racing in Australia, perhaps the most popular type of accumulator is the quaddie, which requires the punter to pick four winners from four races. Other accumulators include the Big Six and of course multis can be had for variety of racing and sports events.

In the UK, accumulator betting is especially popular as a form of football bet and also as a bet on sports such as Tennis, or on certain bets on American Football, Rugby (League and Union) as well as other sports where there are multiple matches taking place in the same afternoon and evening.

Over the years it is these types of bets, perhaps more-so than any other, have led to some of the most astonishing big money wins in the sports betting industry, as well as some of the biggest hard luck stories you will find in the world of gambling.

Let's take a look at some of these in more detail...

Sports Betting Facts - The Winners

Britain's Biggest Betting Shop Winner - Craig Brazier, a bin cleaner from Mansfield won the biggest ever betting shop win in the UK when he landed a £1,342,599 share of the Scoop6 prize for a £2 stake in May 2014. Craig correctly predicted six winners of the afternoons races along with five other anonymous punters, who each received the same share of the £10,740,797 rollover jackpot fund.

Bet 50p, took home £1,000,000 - Back in 2008, a Yorkshireman by the name of Fred Craggs decided to place a 50p bet on an eight-horse accumulator across races being run at Sandown Park, Wolverhampton and Dubai. Mr Craggs then watched on as one-by-one each of his selections romped home, several at long odds, landing him an accumulator win of combined odds of 2,000,000/1, earning himself a £1,000,000 windfall for his 50p bet.

Dettori's Magic Seven Nets Punter Half a Million - Back in 1996, Frankie Dettori achieved one of the most celebrated feats in racing when he won all seven races in a single day at Ascot. One resident of Morecambe, Darren Yeats, had placed a bet of £59 on just such a rare event occurring and as a result, he earned a huge win of £550,000 from his bet.

15-fold Acca lands man £500,000 for 30p stake - At the start of the 2013/14 season, an anonymous punter from Staffordshire earned himself a incredible £500,000+ payout from a stake of just 30p with a 15-team acca bet based on which team would win a number of top sporting events over the course of the year. The punter correctly predicted amongst others, the winners of all top five English leagues, the three lower Scottish leagues and Surrey to win the County Championship in cricket to earn his huge windfall.

In Australia, on the last day of the 2007 Melbourne Spring Carnival horse racing event, when despised outsider Tears I Cry won the Group 1 Emirates Stakes, the quadrella paid a record dividend of $1.39 million making many punters weekend a memorable one.

Sports Betting Facts - The Losers

£7,000,000 lost by a length - In May 2014, punter Joe McGuire managed to successfully select the first five winners on the Scoop 6 jackpot, a horse racing jackpot bet in the UK. This meant that by the time the final race in his six-selection bet was run, he stood to win a stunning £7,000,000 if his horse in the sixth race, Escape to Glory managed to win. It seemed like his dream was coming true as Escape to Glory romped clear in the final furlong, only for the horse to tire as it neared the line and was pipped by just a length into second place.

United Defeat Costs Pensioner £1,000,000 - At the start of the 2013-14 season, Manchester United faced Liverpool in a Super Sunday match up with new manager David Moyes enduring a struggling start to his tenure as manager. That weekend, one anonymous pensioner in Wales only needed United to defeat their arch rivals to earn a staggering £1,000,000 for a £1 bet. United lost, but fortunately the punter had the foresight to have made a multiple bet (where not all selections need to win for the punter to earn a return) and instead he took home a consolation prize of £72,000.

This concludes our three part series into jackpot facts and winning big. If you have had a big win or just missed out on a big win, please contact us and we'll publish your story on Mega Moolah. You can find the link to the contact page just below in the footer.

Read Part One | Part Two of this article.

Byline: This article was published by Mega Moolah expert Henry. Media and other enquiries.

Next article: Interesting jackpot facts to ponder next time you wager: Part Two - Slots