New research reveals that nearly all UK bettors underestimate the true cost of 'free bet' offers. A study of 585 gamblers found that 90% misjudged the amount they would need to stake before withdrawing winnings from a typical welcome bonus.
The research, led by academics, presented participants with a realistic promotion: '150% up to £150 on your first deposit'. For a £50 deposit, the wagering requirement meant bettors had to stake an additional £750 of their own money — but the median estimate was just £500. Most participants applied the 10-times multiplier to the deposit but forgot to include the 150% bonus.
Since January 2026, the UK Gambling Commission has capped wagering requirements at ten times the bonus and required clearer terms. However, the study suggests that even a 10-times multiplier remains confusing when combined with matched bonuses. A worked example, showing the pound-and-pence cost, significantly reduced the offer's appeal.
Participants described the offers as 'predatory' and 'deceptive', with many calling for regulation similar to credit products. One suggested that wagering requirements should be displayed like APR on loans — a comparison the researchers endorse.
The findings highlight that misunderstanding is not limited to problem gamblers; even low-risk bettors miscalculated at similar rates. The authors argue that a simple worked example in adverts would improve transparency without banning promotions.
