ColossusBets Review: Win £10,000,000
A bet with a £10,000,000 jackpot is always going to capture the imagination. And I've spent the last couple of weeks playing around with the site that offers that bet, and plenty of other less headline-grabbing ones, ColossusBets.
Who are ColossusBets?
Colossus Bets are a fairly new company, who started trading last year. They offer players pool betting on football scores (mainly), with a chance to win as much as £10,000,000.
Their directors include a previous Betfair bigwig, and they are registered as a company in UK.
So far so good, but...
What is the Colossus, and how do I play?
The Colossus is the headline bet from Colossus Bets, and it involves players correctly predicting the outcomes of seven football matches. There are easier variants involve three, four, five or six matches, and all have pool guarantees, meaning you are certain to collect a set amount if you are the sole winner in a pool.
Players may choose as many scores for each game as they like, and there are three 'Any other' scores: a home win by four or more; an away win by four or more; and a draw of 2-2 or bigger.
Playing is easy - I've been getting very involved during the World Cup. You simply:
1. Choose your bet. Let's try a Pick 3 (three matches)
2. Fill out your chosen scores, and choose a stake
3. Manage your position (or not!)
There are lots of really cool things about Colossus, but the one I love the most is the 'cash out' function.
What this allows you to do is to 'sell' all or part of your ticket at various points before the final match is complete... as long as you still have a 'live' score.
Let me give you an example, based on a chronology of the above bet.
The first two games - Costa Rica vs England and Italy vs Uruguay - both kick off at 5pm GMT. Half time in both will be somewhere between 5.45pm and 6pm GMT. Then, the final game kicks off at 9pm GMT, with half time in that game at around 9.45pm GMT.
The first two games kick off. Let's suppose England score in the first half, and are leading 1-0 at the break (it is possible!). Let's further suppose that the Italy-Uruguay match is a tetchy chanceless affair with more kicking than goalmouth action, and it remains 0-0.
Half time in the early kick offs
At half-time in those games, we will receive a 'cash in' offer. The offer tells us how much we can sell our ticket for. In the above example, where our target scores are looking good, the offer would be reasonable, and might be £50 for our £16 stake.
When you consider that it's only half-time in two of the three matches, and we haven't yet predicted any of them correctly, that's quite cool.
But here's the really clever part. We don't have to sell all of our ticket. We can sell any 10% of it. So, in this example, we could sell 40% and get £20 for that. That would mean we had a profit of £4 on the bet and, more importantly, we have a free bet for 60% of our ticket on these good looking score lines.
Of course, we could take all of the offer there and then. Or we could do nothing and let it ride. Personally, I'd be letting this one ride. But let's suppose we sell 40% to cover our stakes; and let's move on an hour.
Full time in the early kick offs
It's the end of the two 5pm games, and England have played really well (let's hope so!) and won 2-0. Italy have chiselled out a 1-0 win as well. Our bet is looking good so far, with two correct scores in the bag, and coverage of five likely scores in the final match.
We get another 'cash in' offer from Colossus Bets. This time we can take £96 for the remaining 60% of our ticket. Let's suppose we check the team news in the Greece-Ivory Coast match and see that Ivory Coast's key defender is not playing.
At this point, we decide that it might be smart to take another £48 out for 30% of the remaining 60%. That gives us a return of £68 on a stake of £16, for a profit of £52... and we've still got 30% left to cheer.
The Greece vs Ivory Coast match kicks off...
Half time in the third match
Against the form in the group, Greece have played really well in the first half and have a 1-0 lead against a lethargic looking Ivory Coast, who are down to ten men. It's half time, and we receive a further 'cash in' offer. We have three possible scores still 'live': 1-0 Greece, 1-1, and AOD (Any Other Draw).
We really don't fancy the big draw, and it doesn't look as thought Ivory Coast are going to do much, based on their first half showing. So we look a bit precarious on our 1-0 score as, if anything, Greece look likely to score again.
The offer is just £6.40 for our last 30%.
We decide to let it ride as it's not a lot of money, and we've already cleared a good profit on the bet. For thirty minutes it looks like we'll get paid out. But, in the last quarter of an hour the ten men Ivorians tire, and Greece score two late goals to win 3-0.
We lose our remaining 30% of the ticket.
4. What actually just happened?!
Let's look at what happened here. We made a bet over three games, two of which ran simultaneously, and we had three opportunities to 'cash out' before the end of the bet (half time in the first pair of matches; full time in the first pair of matches; and half time in the later third match).
At half time in the early games, we 'covered our stake'. In other words, we sold a piece of our ticket to get a free bet on the rest.
At full time in the early games, we locked in a profit. We sold a further piece of our ticket to guarantee a nice bit of beer money.
At half time in the late game, we decided to let things run, and retained our last piece of the ticket. This gave us an interest in the rest of the match, and a chance to win a few quid more.
At full time in the late game, our correct scores were sunk, meaning we actually failed to correctly predict the results of the three games, and yet we still made a healthy profit! That's why I love this bet!! 😀
Let's talk about rollovers and guarantees
You will know from my recent review of the Irish tote that I love rollovers and pool guarantees.
To remind you, a rollover is when a previous bet has not been won, and the money wagered is 'rolled over' into a new betting opportunity. These happen often with Colossus Bets, and that means two things:
1. The chance of a 'scoop', i.e. being the only winner of a pool, and
2. Huge value in a pool that has a starting fund of £100,000+ before a new bet has been struck!
As I write, there is a £56,663 Pick 4 rollover starting at 5pm today, and I will definitely be involved.
All pools are guaranteed, the Pick 3 pools to £5,000, the Pick 4 pools to £30,000, and the Pick 6 to £1,000,000. Of course, the Colossus (a Pick 7) is guaranteed to pay £10,000,000 for anyone brave enough not to cash out until the death!
Those are all for £2 stakes, but you can bet 20p's for a chance to win a million as well.
But wait, there's more... Bonuses and Consolations
The big pools - the Pick 6 and Colossus - both have bonus and consolation prizes.
The consolation prize is a pool of £5,000 (Colossus) / £1,000 (Pick 6) which is shared amongst players who correctly predict the result (i.e. home win, draw, away win) in each of the six or seven games. And that's far easier than guessing seven correct scores, even if five grand is not ten million!
The bonus prize - which is a million quid in the Pick 6 and five mill in the Colossus - is paid to any player that correctly predicts the score of a further game. Wow.
Why I love Colossus Bets
Colossus was totally new to me about a month ago. But, since the World Cup started, I've been an avid fan, playing Pick 3 / 4 games each night. It's not easy to get three or four scores right - especially in what has been a high scoring tournament so far. But, because of the cash out options, I've been able to get my stakes back and still have free bets to cheer, and take profit from, in the remaining games.
I also love the proliferation of small stakes punters who have won big money at Colossus Bets, like this guy yesterday, who turned £1.50 into £7,500 by guessing the scores of three matches.
Get up to £100 Matched Bet when you sign up
On top of everything else, I almost forgot to mention the huge welcome offer from ColossusBets. They will match the amount you deposit and wager during the first three days of your new account. So, if you deposit and bet £20, they will give you another £20 to bet with. Deposit and wager £5, they'll give you £5 free to bet. And if, like me, you like bigger perms and deposit/bet £100 or more, you'll get another £100 to bet with, gratis.
Give it a try... and Good Luck!