Gamblers don’t understand ‘free bets’ - and the costs can be huge

By Jamie Torrance, Lecturer and Researcher in Psychology, Swansea University

“Welcome bonus: get 150% up to £150 on your first deposit”. It’s the kind of offer that greets anyone who visits a British online betting site. What it doesn’t say is that if you decide to spend £50 on this offer, you’d need to stake an additional £750 of your own money before any winnings could be withdrawn.

Recent research by colleagues and I asked nearly 600 UK bettors to work out the true cost of exactly that kind of offer. Nearly everyone got…

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