Profit Accumulator hit with ASA ban over Instagram ad
Matched betting content site censured for irresponsible posts promising financial security
Profit Accumulator has been ordered by the Advertising Standards Authority (ASA) to remove two Instagram posts over irresponsible advertising claims.
The first post, which appeared in March 2019, was an image which depicted an “absolutely amazing win from one of our members 12 minutes ago”.
The post included the hashtags “#makemoney #makingmoney #income #makemoneyfromhome #extraincome #students #sahm #extramoney”.
A second post from April included customer reviews which said: “In one month I have gone from a person struggling to stay afloat who is worrying about their MOT, bills etc to completely flipping my financial position.
“Could not have got to this position without matched betting and without the guidance of Profit Accumulator.” The ad included the same hashtags.
In both cases, a complainant challenged whether the posts were acting irresponsibly in suggesting that matched betting could be a way to achieve financial security and as an alternative to employment.
Responding to the complaint, Profit Accumulator explained that as a matched betting service its purpose was to allow its members to make profits through betting.
In addition, Profit Accumulator confirmed it provided a description of matched betting, including disclaimers which suggested that if players followed instructions given to them, they would be unlikely to lose any money.
The company defended the use of hashtags in its posts.
In both cases, the ASA acknowledged that while Profit Accumulator was not directly gambling, the purpose of the service was to facilitate gambling and therefore assessed the posts with that in mind, deeming them irresponsibly worded.
As a result, both posts have been ordered to be removed.