The leading regulator for the UK advertising industry, the Advertising Standards Authority (ASA) has upheld a complaint against a betting service called Profit Accumulator, which suggested that people could use matched betting as a way to solve financial problems.
The complaint regarded two posts that Profit Accumulator had made on their Instagram account. In the first post, there was reference to a big win from one of the service’s members, which included hashtags suggesting that matched betting was a way for students or stay at home mothers to make money. The second post related the story of an individual who claimed to have solved their financial problems through using matched betting, assisted by Profit Accumulator.
Both ads were the subject of complaint, with the complainants stating that they misleadingly suggested that financial security could be achieved through matched betting.
In its response, Profit Accumulator said that the posts had not suggested that matched betting was an alternative to employment and argued further that it was legitimate to say that matched betting was a way to make additional money. But the ASA rejected these arguments. In a statement on their decision, they said that although the service from Profit Accumulator was not in itself gambling, its purpose was to facilitate gambling, and should be viewed in that context:
“We considered that the hashtags combined with the image of a large sum of money implied that Profit Accumulator’s service could be an alternative to employment or a way to achieve financial security.”
The ASA statement revealed that they had also warned Profit Accumulator not to suggest that matched betting could offer a solution to anyone’s financial concerns, or that it was a means to achieve financial security or an alternative to employment. Profit Accumulator was also warned to ensure that the ads did not appear again in their current form.