“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to spend £50 on this offer, you’d need to stake an additional £750 of your own money before any winnings could be withdrawn.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 it wrong, underestimating the real amount often by hundreds of pounds.
