The ASA has upheld a complaint against an advert for Racing 4 Profit, trading as rixbets.com.
In the press ad, it was stated: "... Outstanding results in the last 16 months… £34,970 profit. An extraordinary 62 per cent profit on investment and an incredible tax free profit of £492 per week."
The complainant challenged whether this claim was misleading and could be substantiated.
The ASA considered that consumers were likely to interpret the claim to mean that, during the period referenced in the ad, April 9 2016 to August 19 2017, Racing 4 Profit had made a total profit of £34,970 from racing bets, that amount was 62 per cent of the total amount invested, and that they had made a profit of approximately £492 each week during the relevant period.
Racing 4 Profit said the profit figures in the ad were based on the betting tips given to members over the stated period.
"We were concerned that the ad did not make sufficiently clear the amount a consumer would be required to stake to achieve the £34,970 profit," the ASA said in its ruling. "We noted that the text, which stated 'total stake 9/4/16 to 19/8/17 = £56,000,' was in small print in parentheses under the body copy and we considered that that text, and the text which stated '62 per cent profit on investment,' did not make sufficiently clear to consumers the amounts they would need to invest to achieve the advertised profit."
As the complaint has been upheld, the ASA has ruled that the ad "must not appear again in its current form."
