Free bets coax people into betting more, including problem gamblers
The ESRI's Behavioural Research Unit also found that people were three times more likely to spend money on bad bets after being shown an offer.
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The new research, funded by the Gambling Regulatory Authority of Ireland (GRAI), used a controlled experiment to test whether offers, or 'inducements', alter betting behaviour.
The experiment was run with a sample of 622 men under 40 just prior to the Euro 2024 football championship.
Participants were given money to place up to six realistic bets on Euro 2024 matches.
Half the participants, selected at random, were shown offers of free bets and moneyback guarantees on some bets, while the other half saw no offers.
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These inducements caused participants to spend over 10% more and reduced the number of people opting not to bet by a half.
Some bets were intentionally designed as 'bad bets', offering odds well below market rates, meaning participants were better off choosing other options or not betting at all.
Participants exposed to the offers were three times more likely to spend money on these bad bets.
The study also found that those at risk of problem gambling were more affected by the inducements than those not at risk.
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After the experiment, participants answered questions about their understanding of the inducements.
Even though most of the participants were regular bettors, most did not realise that there were restrictions on free bets, and many did not know that they would not receive their stake back if they won a free bet, both of which are standard practice in the market.
Dr Diarmaid O Ceallaigh, of the ESRI's Behavioural Research Unit, said that the findings call for stricter regulation of gambling offers in Ireland.
He said: 'Our findings imply that gambling offers aren't merely marketing tools, but pose a real risk of financial harm, particularly among vulnerable groups.
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'The results support the case for stricter regulation of gambling offers in Ireland, following steps already taken in other European countries, such as banning sign-up bonuses, restricting offers to at-risk individuals, and capping their value.'
Chief executive of Gambling Regulatory Authority of Ireland Anne Marie Caulfield said she welcomed the the findings and said they 'add weight to the discourse' around the harms of gambling inducements.
She said: 'We are committed to continued research to understand the extent of gambling in Ireland, the drivers of gambling harms and the impact of inducements and advertising on gambling behaviours.
'We are actively engaged with a broad range of stakeholders including with industry, charities and with people who have lived experience of harm caused by gambling.
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'The Gambling Regulation Act 2024 sets out obligations for licensees in the way in which inducements can be offered, including a ban on targeted inducements, and the findings of this study affirm these measures.'
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Betting odds explained – How betting odds work
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Decimal odds explained Another way probability is expressed on bookmaker websites is via decimal odds, shown below by bet365. These are particularly popular across the continent. Decimal odds are typically written out to one or two decimal places and working out potential winnings is straightforward – simply multiply your stake (for example £1) by the decimal number. Decimal odds example Using the image above, here is a look at an example of betting using decimal odds. If, for example, you placed a £10 bet on PSG to win the Club World Cup at odds of 4.00 that would mean you are multiplying your stake by 4.00, so your winnings would be £40. This would mean £30 in profit. The key points from this example can be found below: Stake: £10 Decimal odds: 4.00 Overall return: £40 (including original £10 stake) Profit: £30 American odds explained Those looking to bet on NFL, baseball or basketball will be more familiar than others with American odds, which unsurprisingly are used for events that take place in the United States, as well as at the country's own bookmakers and betting sites. These are a little different to fractional and decimal odds, and are expressed as a number that can be preceded by either a plus sign or a minus sign (+ or –). Those with a plus sign are odds-against selections (more on that shortly), meaning they are typically underdogs, while those with a minus sign are odds-on selections and are typically favourites. 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Moneyline – Used frequently in the USA, this simply refers to bets placed on a match outcome/result. Odds-on – Odds that are rated more likely than 'evens' and whose associated outcomes are considered the more or most likely to happen. Odds-against – Odds that are rated less likely than 'evens' and whose associated outcomes are considered less or the least likely to happen. Outsider – A selection that typically has big odds and is not expected to win. Favourite – A selection that typically has smaller odds and is expected to win. Evens – Shown as either 1/1, 2.00 or +100 (in fractional, decimal and American odds respectively), evens is a price that suggests a selection has the same chance of happening as not happening. If you back something at evens, you will double your stake if it wins. Implied probability – Odds shown in a percentage form to show likelihood of outcome. 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A moneyline bet is a wager placed on an event's outcome, for example which team will win an NFL match. How do you calculate odds? Regardless of their format, odds are used to reflect the chance of something happening. If you want to calculate the percentage chance of something happening based on its allocated odds, you need to work out the implied probability using the following equation: Denominator/(denominator + numerator) x 100 = Implied probability For example, with odds of 4/1 would divide 1 by 5, giving you 0.2, then multiply 0.2 by 100, which equals 20. This means that odds of 4/1 imply a 20 per cent chance of something happening.
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