Is Bet365 Sportsbook Addictive?
Sports betting platforms like Bet365, FanDuel, and DraftKings are addictive for many users.
People suffering from a gambling problem generate most of the sports betting industry revenue, according to a recent study. Compulsive betting is part of the business model.
The addictiveness is due to how apps are designed, as well as the gambling these platforms offer. Many types of apps are highly addictive, and that’s especially true for gambling ones.
In the case of Bet365, the name of the app is also problematic. There are 365 days in the year, and the name implies that customers can bet every single day.
As we will explain, betting on sports every day will likely lead you to a gambling addiction.
Is It Safe to Use Bet365?
For a great many players, Bet365 is unsafe to use. Numerous governments in the world have licensed the online sportsbook and collect tax revenue from its operations, but the stamp of approval doesn’t mean it’s safe.
Bet365 can be a highly addictive platform and damage your life.
It’s worth noting that policymakers receive campaign contributions from betting lobbying groups.
The money you deposit into an online betting site is protected in the sense that the sportsbook must have the funds to fully cover customer deposits. That’s the so-called consumer protection.
So, if Bet365 somehow went out of business, you could retrieve your account balance. The sportsbook can’t outright steal your money.
That’s where the safety of Bet365 ends. The platform is designed for you to lose money in the long run. This shouldn’t be surprising to any sports fan or concerned industry observer.
If you win money in the short term, the platform might discourage you from withdrawing your funds into your bank account or other payment processor.
If you bet on niche markets and win more often than you lose, a betting site might restrict or ban you. The betting industry does not want savvy customers.
Here are some reasons Bet365 isn’t safe to use for many users.
Ease of Access: Bet365, accessible through laptops and mobile apps, allows users to place bets anytime and from anywhere, encouraging potentially destructive risk-taking. Problem bettors miss out on many life experiences by constantly looking at their mobile device to place or monitor their bets.
Instant Gratification: The quick turnaround of betting outcomes, especially in-game wagering, provides instant gratification, enticing users to play more frequently in search of wins and potentially chase their losses.
The Illusion of Skill: Because sports betting involves the choice of selecting which bets to make, it can lead individuals to believe that they can consistently predict outcomes and win, potentially encouraging problem gambling. Betting isn’t a skill-based activity.
Promotions and Bonuses: Bet365 offers promotions, so-called bonuses, and other incentives to keep you playing. These flashy offers cause problems for many users.
Social Engagement: Competing against others through features such as betting leader boards can make participation more enticing and habitual.
Chasing Losses: The desire to recover losses through more betting can lead to a vicious cycle where users bet increasingly larger amounts, a common sign of a gambling addiction. Betting apps like Bet365 send you notifications to continue betting if you haven’t gambled in awhile. The more you lose, the more betting apps will contact you, through email, text messages, or app notifications.
It's important to be aware of these factors and abstain from using betting platforms if you have ever experienced difficulty controlling your impulses. Sports betting isn’t right for you.
Don’t be tricked by sports betting media that claim you should “monitor your behavior” to prevent a gambling problem. If a sports betting app sounds addictive based on what you’ve read here, then it will likely end up being addictive for you.
Keep in mind that sports betting can be harmful for marriages and your heart health.
Why Bet365’s Promo is a Bad Bet
Bet365 gives gamblers site credit after initially signing up. While it may appear like an enticing offer, we don’t see it as consumer friendly.
The sportsbook gives $150 worth of so-called “bonus bets” if you meet certain conditions.
First, you must give the sportsbook your personal information, including your social security number, email and physical address, and phone number. You never know if this data could be hacked from the betting site by a malicious third party.
You’re now in Bet365’s system for life, and you can expect to receive a flow of advertisements encouraging you to gamble. If you develop a gambling addiction, you will have to let your state government know that you need Bet365 to stop contacting you.
Second, you must enter your banking or other payment processing information. You must deposit at least $10 into Bet365 to continue in the process of claiming the so-called bonus.
Next, you must place a bet of at least $5. You receive the site credit regardless of whether your first bet wins or loses.
Following your first bet, Bet365 will issue the $150 in site credit within roughly an hour.
The site credit isn’t actual money. You can use it to place bets, and any winnings derived from those bets will appear in your account. Contrary to popular belief, Bet365 doesn’t give “free money” to users.
Sportsbooks like Bet365 can provide site credit because it’s likely you don’t win any money from wagers using the credit. If you do, sportsbooks know that it’s also unlikely you will withdraw the profit before giving it back to the house.
This so-called welcome offer is a very inexpensive way sportsbooks get you to provide personal and banking information to start gambling. Don’t fall for the gimmick.
Image via Bet365 LinkedIn.