By now, you've likely heard of the “$10 to $10K Ladder Challenge.” Whether the Twitter algorithm dropped it in front of you or one of your favorite handicappers has taken their shot at it, the ladder challenge has become increasingly popular in the sports betting community, particularly on social media over the past year.
The concept is straightforward: starting with a single $10 wager, you target a +100 (or close to it) bet for ten days. Each day, you roll over your original bet and the winnings into the new one, doubling your money each day that you win. The objective is that with ten bets over ten days, you turn your original $10 into $10,000. The day-by-day format looks like this:
- Day 1 – $10 ?? $20
- Day 2 – $20 ?? $40
- Day 3 – $40 ?? $80
- Day 4 – $80 ?? $160
- Day 5 – $160 ?? $320
- Day 6 – $320 ?? $640
- Day 7 – $640 ?? $1280
- Day 8 – $1280 ?? $2560
- Day 9 – $2560 ?? $5120
- Day 10 – $5120 ?? $10,240
Simple, right? Not quite. If it were so easy, we wouldn't have sports to bet on because the sportsbooks would have run out of money! Hitting ten bets in a row of any kind is very difficult. Add in the pressure that comes with trying to find that perfect bet if you reach the final rungs of the ladder, and it can be an exhausting process.
RELATED: 7 Mistakes to Avoid When Betting on Sports