€430m changes hands a year in ‘just for fun’ bets

Informal betting between friends and family sees an estimated €430m change hands in Ireland every year, according to the creators of a new app.

Research from BetYou shows the average bet works out at around €12.80 and is waged 25 times a year, leaving the individual up to €326 in or out of pocket.

Most bet purely for fun, with 60% of those surveyed saying the motivating factor was enjoying the banter while the bet was happening. Sporting events — either on TV or on the field of play — prompt 55% of bets. For 7.45% of those surveyed, scoring with the opposite sex was top of their list of betting topics.