Five small gambles that could net you enough for a mortgage deposit
It can be tough to get on the property ladder and even the initial deposit is a big financial hurdle for many, setting the average UK homebuyer back by £23,271.
With wages failing to keep pace with house price growth the affordability gap continues to grow and so property competition WinMyDreamHome.com has looked at five scenarios where you could win enough cash to put down a 10% deposit on a typical property.
Premium Bonds monthly draw
Premium Bonds see investors buy bonds where they qualify for a prize after a month.
If you invest £1 in a bond you have a one in 25,500 chance of winning a prize, however your odds of winning a meaningful prize are slimmer.
Indeed, the chance of winning more than £25,000 with a £1 bond is one in 3,565 million.
The chance of winning the top prize of £1m is also one in 40.99 billion, so don’t hold your breath.
The Pools – footie5
Think you know your football?
Using a free bet, you could win £25,000 if you correctly predict the results of five matches in a given round.
SkySports Super 6
This is like the previous bet – but even harder.
If you predict the scores of six football matches you’d win £250,000, over the
£232,710 average house price.
It seems a tall order, though you could attempt the feat as a free bet.
Betway 4 to score
You could similarly win a hefty sum with Betfair with a free bet, though the criteria to win is precise.
In four matches you’d need to select the first goalscorer correctly every time.
This sounds achievable if strikers like Harry Kane score first, though if a center-back scores from a corner you might come unstuck.
Euromillions – match 5
This game is £2.50 to play and the goal is to match five numbers with what’s selected.
If you get all five you’d win around £23,590, enough for a house deposit.
There’s approximately a one in 3.107 million chance of that happening.
Marc Gershon from WinMyDreamHome.com commented:
“Property affordability has become a huge issue and while these bets may seem unlikely to come in, they may be a more realistic route to secure a foot on the ladder for some. Whether it’s football, premium bonds, the lottery, or even a house competition like Win My Dream Home, it’s always important to bet responsibly and within your means.”
|
Average July 2019
|
|
||||
|
Average UK house price (July 2019) =
|
£232,710
|
||||
|
Average deposit @ 10% =
|
£23,271
|
||||
|
Description
|
Bet / amount
|
Potential win
|
Odds
|
Further information
|
Links
|
|
1. Premium Bonds monthly draw
|
£1 bond
|
£25,000
|
1 in 3564 million
|
Each individual £1 bond has a one-in-24,500 chance of winning any prize, and the odds are really stacked against you if you’re after larger prizes
|
|
|
2. The Pools – footie5
|
Free
|
£25,000
|
unknown
|
If you correctly predict the results of five matches in a given round then you could win £25,000
|
|
|
3. Euromillions – match 5
|
£2.50 play
|
Estimated £23,590 (depending on jackpot prize – 0.92% of prize fund)
|
1 in 3,107,514
|
Match 5 numbers – to win approximately £23,590
|
|
|
4. Betway 4 to score
|
Free
|
£25,000
|
unknown
|
4 matches, 4 players, 4 goals. Select the first goalscorer in four selected matches in each round.
|
|
|
5. SkySports Super 6
|
Free
|
£250,000 *wins the amount for an average house price
|
unknown
|
Predict the scores of six selected matches to win the jackpot
|
|
|
Sources:
|
|
|
|||
|
Average UK House Price
|
|||||
|
Options to win deposit
|
|||||
|
Premium bond draws
|
|||||
|
The Pools
|
|||||
|
Lotto
|
|||||
|
First 4 Goalscorers
|
|||||
|
Super6
|
|||||
You May Also Enjoy
Understanding House Value in the UK: A Simple Guide
What does latent defects insurance cover?
Breaking Property News – 24/04/24
An average rate of 6% for the first time since November – Rightmove’s weekly mortgage tracker
Understanding Property Valuation: A Simple Guide