A new peer-reviewed study from Bournemouth University has uncovered a notable difference between how people view the risks of matched betting and the actual experiences of those who engage in it. Matched betting is a practice where individuals use free bets from online gambling companies—often offered as promotions to attract new customers—to place bets on different outcomes of the same event, such as a football match. It is frequently marketed online as a controlled or even "risk-free" way to earn money. The study surveyed 2,112 UK adults currently involved in matched betting and analyzed 2,954 personal stories about their views on whether matched betting is a form of gambling, the challenges they faced, and the financial losses they experienced. The research, led by a team of scholars including Dr. Reece Bush-Evans and Dr. Ruijie Wang, was published in the International Gambling Studies journal. It aimed to explore how individuals perceive the risks of matched betting compared to their actual experiences. Dr. Bush-Evans noted a clear contradiction: "Many participants described matched betting as risk-free or controllable, yet just over half reported having lost money at some point while matched betting." The study found that many participants did not see matched betting as traditional gambling, despite reporting harms such as financial loss, errors, mental stress, and emotional impulses. One key finding was how participants explained their losses. Dr. Wang explained, "More than half of those we surveyed reported losing money through matched betting, but they often attributed the losses to mistakes like incorrect calculations, misunderstanding promotions, or pressing the wrong button, rather than to the inherent risk of the activity." Interestingly, these losses did not always change participants' belief that matched betting was risk-free. Some participants also reported chasing wins or losses by betting their own money or transitioning into other forms of gambling. However, the researchers emphasized that the study only captured people's experiences at one point in time, so it cannot prove that matched betting leads to future gambling behavior. The team called for more attention to matched betting in gambling research and consumer protection discussions. "Matched betting remains surprisingly under-researched despite its visibility online," Dr. Bush-Evans concluded. The researchers hope for future studies that follow matched bettors over time and examine how the practice is promoted through social media, online communities, and affiliate marketing.