UK bookmaker Ladbrokes has seen a sales promotion for its betting exchange website banned by the UK advertising watchdog the Advertising Standards Authority (ASA) after it was deemed to be misleading.
The banner ad stated that players could win up to £500 in free bets on the Ladbrokes Exchange, with smaller text directing people to the terms and conditions. These stated that the offer applied to all exchange customers and that on paying £25 in exchange commission they would be given a bet of equivalent value. For each additional £100 the customer paid in exchange commission, they would gain an additional £25 free bet, until a total of £500 had been reached.
It also stated that the free bets would be credited within 72 hours, and that free bet balances could not be withdrawn until they have been bet at odds of 1.5 or greater. The free bet stake would also not be returned, while they cannot be used on any other product offered by Ladbrokes.
One complainant noted however that in order to obtain the £500 in free bets, a customer would have to have won a minimum of £38,500. They queried whether the ad was misleading, and whether customers were being treated fairly and honourably by Ladbrokes.