Challenge Betting is a new to market football betting tipster service which is operated by one Ian Banks. He claims to be able to turn a very modest betting bank into some very substantial profits.
Introduction to Challenge Betting
There are so many different approaches to tipping. And one of the ones that I see quite often is this notion of simply taking a very small betting bank, and turning it into a targeted profit in a relatively short space of time. I can entirely understand why this is the case too. Because who wouldn’t want to find themselves £5,000 richer come summer? Especially when you only need a very small amount of money to actually get themselves started. It is pretty much the dream.
And if you believe Ian Banks, then today’s subject, Challenge Betting will allow you to live that dream. Because those are exactly the kinds of claims that are being made here. Big profits from a small bank. What makes this all particularly intriguing in my mind is the fact that this has supposedly been achieved several times in the past. So, what you have here is a system that the creator claims to be proven, that is capable of producing returns of 4,900%. Those are the kinds of numbers that are life changing.
Of course, there is a lot to be said for the validity of said claims. If I’m really blunt about it, pretty much anybody can say anything on the internet. I know this to be true more than most. As such, I am always a little bit sceptical of claims that seem too good to be true. And if I’m honest, that is exactly what my immediate thoughts were with Challenge Betting. None the less, I will keep an open mind to what Ian Banks is saying, because if he can deliver on it, then it will be a sure fire thing for my betting portfolio.
What Does Challenge Betting Offer?
So, let’s get down to what Challenge Betting is exactly. Whilst this fundamentally is something that has a straight forward answer (it’s a tipster service), there is actually a bit more to it than just that. Because whilst the fundamentals of what a tipster service is don’t really change, they can all be very different. And what Ian Banks does somewhat falls into this category. As such, there are a lot of considerations for you to keep in mind.
One of the first things that is noteworthy is the fact that this isn’t a daily tipster service. In actual fact, as you would expect from a football tipster service, the whole affair is a little bit all over the place. But this isn’t something that I think you can realistically hold against Ian Banks. The fact is that most football tipsters are like this. It is simply a part and parcel of betting on the sport.
Now, one of the things that I should like about Challenge Betting is that Ian Banks provides a lot of seemingly quality content when he sends out selections. This includes things like the odds you should be aiming for, the stakes involved, and an explanation as to why a selection has been made. It all sounds incredibly well thought out and is in line with what I consider to be the “gold standard” for tipsters.
Unfortunately, there are a few things that I have an issue with. Firstly, there is the fact that bets are sent out “at least 8 hours prior to kick off”. The issue that I find with this is that whilst it sounds reasonable, you might struggle to get the odds that are advised. As such, if I were going to follow Challenge Betting an odds comparison site would be a must have. Even if only for peace of mind.
Also, whilst there is some insight into why a team has been selected, it isn’t necessarily all that detailed. Especially not when you consider some of the statements that Ian Banks makes about Challenge Betting (but I’ll come to this a little later on). This means that whilst it is in line with that “gold standard”, it also ends up falling a little bit short in my opinion.
With all of that on the table, let’s talk about the kinds of bets that you’ll be placing. One of the things that I think is great about betting on football is the wide array of markets that you can take advantage of in order to get the best possible odds. Challenge Betting is generally focused on backing a team to win, however, you can also expect to see bets covering BTTS, Over/Under markets, and even covering a draw on occasion.
You can also expect to see as many as five bets on a given betting day. This is quite important to factor in because Challenge Betting ends up as a very high stakes betting service in my opinion. The core premise here is that you start off with just £100. This is a betting bank of 10 bets with Ian Banks recommending you start out at £10 stakes. That doesn’t cover much of a drawdown.
Building on this, Challenge Betting also utilises a compounding approach to staking. This means that the more money you have, the more you are betting. All roughly in line with that 10 point betting bank. According to Ian Banks’s proofing, this means staking £400 on your last bets. A number that is an inevitably huge loss if (or when) it happens.
Now, in theory, none of this should be a problem. According to the very limited proofing that Ian Banks provides, Challenge Betting should have a strike rate of around 82%. That is one hell of a number and make no mistake. Furthermore, given that this does have proofing, there shouldn’t be any reason to question it. Unfortunately I do however have some questions about all this.
How Does Challenge Betting Work?
The most obvious point to raise in terms of how Challenge Betting works is the point that technically, Ian Banks does provide insight into the reasoning behind every bet. But as I mentioned, this isn’t analysis that is really any more significant than anybody who is knowledgeable about football could provide.
With that said, I want to talk about why this inclusion of the insight on each bet (which should be a great thing) doesn’t sit right with me. Ian Banks makes reference to how seriously he takes sports betting in the sales material. Here he talks about how he might “bring together 100+ factors” before he makes a selection. But that really doesn’t seem to be represented here.
The other element of Challenge Betting is of course the compounding. The fact of the matter is that there is simply no way on earth that you can reasonably expect to get from £100 to £5,000 in 3 months without it. Now, compounding is an interesting thing to me. It is often presented as being this magical thing that allows you to turn any number into any other number (did you know that starting with £1 and a roulette table, you could be a millionaire in 20 spins?). But that is only really practicable in theory.
A key part of this is the aggressiveness with which Ian Banks insists on compounding. Working on a 10 point betting bank is a very risky move. It isn’t even like I’m talking about Challenge Betting having 10 losing bets on the bounce, but the simple fact is that a few losses here and there can take a while to recover. Especially at the lower odds that you tend to see with football betting.
What is the Initial Investment?
If you want to sign up for Challenge Betting there is just one option available. This is a one time cost of £47 for which, we are told, you get access to selections for 3 months. This is the 90 days that aIan Banks claims he is able to turn your starting bank into the claimed profit.
Of note is the fact that Challenge Betting does come with a full 30 day money back guarantee. This is mentioned in the sales material by Ian Banks, albeit, somewhat fleetingly. It is also backed up by the service being sold via Clickbank. This means that you shouldn’t have too many problems claiming a refund if the service isn’t for you (so long as it’s within that first month).
What is the Rate of Return?
The key selling point of Challenge Betting is a very clear one. Start with £100 and turn it into £5,000 in 3 months. As I mentioned, that is an increase in your betting bank of 4,900%. A £4,900 profit in a relatively short space of time. As appealing as all of this sounds, I am not entirely convinced that it is something that is actually attainable though.
Conclusion for Challenge Betting
I can see the appeal of Challenge Betting. One of the biggest barriers to betting seriously, in my mind, is getting yourself established. I know full well that it can be difficult to set aside the £1,000 or so that is realistically needed to make any kind of meaningful income. Especially if you are paying a tipster where there are monthly subs. And I know that creates a barrier for people who may want to take their betting to the next level.
So, along comes Ian Banks saying that if you give him £50, you can get started with just £100. If money is tight, and you’re exploring second income options, that is going to look pretty good. Especially because you’re turning that £100 into £5,000. Not to put too fine a point on it, but if you are in a position where you don’t necessarily have the money to get started, chances are five grand is a bloody large amount to you. So, it’s worth the risk, right?
Well… Maybe not so much. First things first, risk is a subjective thing. What is risky to me may not be to you, and vice versa. But with something like Challenge Betting, I understand the risks involved all too well. Not because I am necessarily risk averse, but because I have looked at literally hundreds, if not thousands of tipsters and betting services in my time. And I know where things actually add up, and when they don’t.
In theory, something like Challenge Betting does add up. Hell, Ian Banks even gives us his proofing for the last time he ran one of his “cycles”. The issue here isn’t necessarily that they are all results that have happened before the launch. That is what proofing is. But they are very much unsubstantiated. And given that there have been cycles several times for previous years, why aren’t we given that proofing? They are also only coming from the person selling the service.
Which brings me to a very interesting point in terms of questioning the validity of Challenge Betting. At least, in my mind. All through this, I have been referring to Ian Banks, because that is the name given in the sales material. It says right there “From the desk of Ian Banks”. So why, when you look at the proofing, is there an email address referencing “Ian Moore”? It is a bit concerning to me.
And that concern is validated, because when you start looking into things properly “at the back end” (as I like to refer to it), Challenge Betting doesn’t seem to a first foray into this sort of thing. In actual fact, the vendor who is selling Challenge Betting has released 5 systems in the last few years. Many of which have been based around very similar principles of betting. Starting with a small bank, and turning it into something huge.
The fact that these services are all marketed separately (under different product names and with different “creators” attached to them) is pretty telling. As is the fact that you can’t actually sign up to these services anymore. I don’t know about you, but in my eyes, that is pretty damning as far as Challenge Betting goes.
When you bring all of this together, it probably won’t come as any surprise to learn that this is a tipster service that I can’t really recommend. Aside from the fact that I simply don’t believe that the claimed results are really doable here (although not impossible, I will concede), the other evidence is very concerning and highly damning. And with a very modest betting bank involved to get started, the only realistic outcome I can see is are people losing money.