Having a flutter on Euro 2024? Watch out for a tactic that bookies say gives you 'control of your betting', but may lure you into risking more cash than you intended, experts warn By Chris Pollard For The Daily Mail Published: 05:17 EDT, 14 June 2024 | Updated: 05:30 EDT, 14 June 2024 e-mail View comments Euro 2024 will see millions having a flutter on the football, but one feature on popular betting apps may lure punters into risking too much. Scientists found the option to 'cash out' for a smaller amount before the end of a match encourages gamblers to bet 35 per cent more and take bigger risks with their money. By giving them a feeling that their bets were partially reversible, inexperienced and low-risk gamers were 'nudged' towards becoming more serious gamblers, they discovered.
Euro 2024 kicks off with Germany v Scotland at the Allianz Arena in Munich at 8pm on Friday. As fans worldwide are gripped by excitement, researchers from the University of Warwick shared their findings. Professor Elliot Ludvig said: 'The cash-out option seems to create a perception of increased control over the bet, which in turn encourages higher risk-taking.
'Our research suggests that when bettors perceive they can partially reverse their bets, they are more willing to stake larger amounts.' The researchers ran a trial with 52 participants in which they placed bets on uncertain outcomes of a simple card game. Half were offered the chance to 'cash out' before the game finished for less than th.
