The Advertising Standards Authority (ASA) has banned gambling adverts of two betting companies, BetIndex and Coral. The ASA found the adverts to be socially irresponsible.
On June 12, a BetIndex video was streamed which showed the company’s Football Index product as “basically the football stock market, where you buy and sell shares in footballers with real money and you can win daily pay-outs which we call dividends.”
The ASA received a complaint which said the advert was irresponsible as it presented an investment opportunity in gambling. The complaint also said that the financial risks associated were not explicitly mentioned.
In response, BetIndex maintained that the risks were made clear as well as the rules.
Following an investigation, the Advertising Standards Authority (ASA) found that the product was presented as an investment opportunity and therefore it was indeed socially irresponsible.
recently, the ASA banned a paid Facebook advert from Football INDEX – Bet & Trade, which was intended to promote a gambling application. The gambling advert was banned for featuring a football player Jadon Sancho who plays English professional football.
The ASA also banned a television ad for Coral as it was encouraging viewers to participate often in gambling.
The ad promoted repetitive gambling as it said: “Free £5 bet every Sunday. When you bet £25+ Monday to Saturday.”
Banning the Coral’s TV Advert, the ASA said: “We considered that the suggestion that viewers should ‘join’ a ‘club’ in order to receive a free £5 bet ‘every’ Sunday was likely to encourage some consumers to take up the offer repetitively.
“For that reason, we concluded that the ad was likely to encourage gambling behavior that was harmful and therefore breached the Code.”