£1 million prize funds are here to stay
Raising the stakes for bookmakers this summer, BetVictor has pushed the jackpots for football prize funds further than most with a £1 million offer.
As part of its Million Pound Goal competition, the betting mogul is looking to outshine its competitors amongst the multitude of promotional offers that are being advertised left, right and centre during the early weeks of the tournament. In a nutshell, if you wager £5 or more during Euro 2016, you can take a stab at the correct scorer and minute of the opening goal in the final for a chance to win the prize fund.
It’s a tempting and quite frankly generous proposition no doubt, but it’s not that surprising to see for anyone who’s been following the gambling market in recent years. Jackpots of or around £1 million are where the market is heading for major prize giveaways and – in the case of BetVictor, at least – is where it’s sometimes already at.
In a sense, this is somewhat reviving an age-old tradition in the UK that existed decades ago. Back then, the football pools – and especially the Treble Chance option – offered the biggest single prize fund in the country. Typically cheap to play, a syndicate of players were the first to scoop £1 million in 1986, and others took home enormous amounts from their lucky bets. Its dominance went downhill after the National Lottery entered the market with even bigger jackpots on offer, but the rise of football-related prize funds today suggest that they’re making a comeback.
So how high will they go? £5 million – maybe even £10 million? It’s difficult to pinpoint an exact figure, but they will undoubtedly be heading in one direction over the coming years. Major events such as the World Cup attract attention from punters worldwide, and the desire to extend further into foreign markets will entice many bookies to see the prize giveaways as investment opportunities.
It will also be interesting to see whether such jackpots rise in correlation with other skyrocketing costs in the footballing world. As transfer fees appear to be on a never-ending upward trajectory, some have speculated on the possibility of jackpots’ inflation staying in line.
But whether they’re £1 million, £2 million or £10 million, having enormous jackpots such as these is important for your average football gambler. It gives them not only hope of an escape from the 9 to 5 drudgery, but a chance at actually winning a life changing jackpot prize.
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