Gamblers are missing out on hundreds of millions by opting for usability over price, despite bookmakers offering most valuable odds.
The failure of online gamblers to shop around for best price could be costing them over £960m a year, according to a study commissioned by Bet Butler.
Although odds comparison sites and 'best price guarantees' are increasingly prevalent in the online gambling industry, research by independent polling company Populus shows that UK gamblers are rejecting better pricing in favour of websites that are easy to use. Forty two per cent of gamblers only ever bet through one account, even if it means that they have to accept worse value - despite there being more than 60 bookmakers online.
All punters claim to like best value, but the Populus survey found that the majority (74 per cent) selected 'ease of use' as an important reason why they chose an online operator, ahead of best price (65 per cent stated value was an important factor). Even those who go out of their way to get best price limit themselves to an average of four accounts.
Bet Butler director Nigel Seeley commented: "People say there's more choice than ever but in reality punters don't get best odds because they don't have an account with the bookie offering it. Gamblers are currently opting for less hassle over winning substantially more. Bet Butler's own figures suggest that people could get on average 12 per cent more winnings by choosing the bookmaker with the best odds every time. With global gross win at nearly £8bn per annum, that means gamblers are missing out on an additional £960m a year. Thankfully, technology now provides a solution to the problem of juggling multiple accounts to secure best price: this service is 'any bet, any value, anywhere'."
