Colossus Bets launches 'world's biggest sports bet'

Pool betting website Colossus Bets has launched its online sportsbook offering, dubbed the ‘world’s biggest sports bet’, ahead of the 2013/14 English Premier League season.

The company’s flagship bet, dubbed ‘The Colossus’, requires users to place a £2 stake and select the correct score line in seven pre-selected football matches. Players successful in doing so will win a share of the total pool prize money, guaranteed to be at least £5m.

Successful players will also be entered into a bonus leg the following week, wherein they stand the chance to win a further £5m providing they can correctly predict the score in another match. If no player is successful the pool prize fund is rolled over into the next game, with Colossus expecting some prize funds to reach £100m.

Colossus will also feature a consolation pool containing prizes for users who come close to winning the bet, but are ultimately unsuccessful. Consolation prizes may be awarded to users who select the correct outcome of each match, but not the correct score line.

Unlike in regular accumulator bets, players will be afforded the opportunity to cash out after each game. Users will also have the option to sell a fraction of the ticket, entitling them to some of the cash-in price as well as jackpot, bonus or consolation pools.

Colossus Bets was highlighted in eGR’s next generation edition in January,