Pinnacle recently ran a competition on Twitter to guess our biggest ever payout to one customer on a single bet. While the competition itself garnered plenty of interest, it also highlighted Pinnacle’s unique approach to bookmaking. How does Pinnacle allow such huge winners and welcome them back to bet again? Read on to find out.
What is Pinnacle’s biggest ever payout?
The highest amount won at Pinnacle on a single sporting event by one bettor was $2,049,000 USD - this was on the 23 January 2011 in the NFL’s NFC Championship game between the Green Bay Packers and Chicago Bears.
How can you win such a big bet?
In order to win such a large sum of money from one bet, there are three basic requirements; you need to be sharp enough to make the right bet, you must have a bookmaker that doesn’t restrict or ban those who make that kind of bet and finally, you need a bookmaker that accepts large enough stakes to return that kind of money.
It seems though, that our reputation for standing a huge bet is understood by our followers – in fact slightly over-estimated – and that policy certainly won’t be changing.
Pinnacle ticks those three boxes for bettors. If bettors are sharp, we use their knowledge to refine our odds. If they aren’t, we educate them through Betting Resources and offer unique insight that will help empower their betting.
Pinnacle also has a Winners Welcome policy, meaning that no matter how much or how often a bettor wins, they are always welcome to bet again. Additionally, we offer the highest limits online - our volume based model means we are happy to take bets of up to $1,000,000.
Our Winners Welcome policy
Pinnacle’s unique business model is what makes us different to other bookmakers. Competitors have tried and failed to copy how we work, but as our Trading Director explained in a recent interview; “they are gonna bleed a lot you know, making expensive mistakes, trying to gain traction and volume.”
Whilst other bookmakers focus on outlandish promotions and funding costly marketing ploys, Pinnacle sticks to a no-nonsense approach - one that offers the most competitive odds online, the highest limits available to bettors and doesn’t restrict winners.
What did the competition guesses tell us?
Out of our thousands of Twitter followers and Facebook fans, no one managed to guess Pinnacle’s biggest ever payout. Some managed to get extremely close, while others were no way near. We have analysed all of the entries in the #PinnaclePayout competition and have learnt a lot from the guesses.
Our model is volume based. The more volume we take, the stronger that model becomes and the more efficient our odds will be – it’s a virtuous circle.
We might have required a larger sample size to benefit from some Wisdom of the Crowd - despite receiving well over 100 entries, the average guess was $3,327,954.17 USD. The median guess was much closer to the correct answer at $1,900,000 USD and the most popular guess was $1,500,000 USD.
Some guesses (namely $69 USD) perhaps underestimated just how sharp some of our customers are, while others ($1,200,000,001 USD) would have seen us enter the record books for the biggest sportsbook payout in history.
It seems though, that our reputation for standing a huge bet is understood by our followers – in fact slightly over-estimated – and that policy certainly won’t be changing.
Will we see a bigger payout in the future?
Our model is volume based. The more volume we take, the stronger that model becomes and the more efficient our odds will be – it’s a virtuous circle. This also means that we can increase our limits, beyond even the $1million offered for the final of the 2016 World Cup. A payout as big as the one in January 2011 doesn’t come around too often but the next one might happen sooner than you think.
Follow us on Twitter for more betting insight, take part in our popular Discussion Days and enter new competitions with exclusive giveaways.