bet365 mobile betting transactions themselves have a high degree of information asymmetry，Therefore，bet365 mobile betting consumers are a more information-vulnerable group among consumers，its right to know、Right of independent choice、The right to fair trade and other rights are vulnerable to infringement by bet365 mobile betting institutions。At the same time，bet365 mobile betting consumers have specific cognitive rules and decision-making patterns in bet365 mobile betting transactions，These cognitive laws and decision-making models are accurately grasped and improperly used by bet365 mobile betting institutions，Further increasing the possibility of bet365 mobile betting consumers’ rights being infringed。For example, research findings in economics and psychology，Human beings are overconfident、Loss aversion、Herd behavior、Cognitive biases such as mental accounting，These cognitive biases are projected in bet365 mobile betting transactions，bet365 mobile betting consumers will produce irrational trading behaviors，It will affect the fairness of bet365 mobile betting transactions at the micro level，It will affect bet365 mobile betting security at the macro level，Even spawned “irrational exuberance” and bet365 mobile betting crisis。

　Changes in bet365 mobile betting consumers’ perceptions

With the development of Internet technology and its widespread application in bet365 mobile betting transactions，Online marketing of bet365 mobile betting products has become a new way of bet365 mobile betting transactions。Article 3, paragraph 3, of the "Measures for the Management of Online Marketing of bet365 mobile betting Products (Draft for Comments)" issued by seven departments including the People's Bank of China in December 2021 defines "online marketing" as: "the promotion of bet365 mobile betting products through the Internet platform Activities for commercial promotion，Including but not limited to displaying and introducing information related to bet365 mobile betting products or business brands of bet365 mobile betting institutions，Provide transfer channels for consumers to purchase bet365 mobile betting products, etc.”。In Internet marketing of bet365 mobile betting products，Consumer perceptions have changed。

　　First，The expansion of bet365 mobile betting consumer groups under the background of the Internet，The overall cognitive ability of bet365 mobile betting consumers has declined。The application of Internet technology in the bet365 mobile betting market effectively achieves bet365 mobile betting inclusion，Groups that are difficult to reach with traditional bet365 mobile betting services can easily enter the bet365 mobile betting market through Internet technology，This is the positive meaning of the “long tail effect” of Internet finance。The "long tail effect" also has negative consequences: bet365 mobile betting institutions use Internet technology to conduct low-cost user searches and fission-style product promotion，Use various means to induce users to participate in bet365 mobile betting transactions，Absorb a large number of groups with insufficient bet365 mobile betting knowledge and low risk tolerance into the bet365 mobile betting market，Amplified bet365 mobile betting risks。As the user base grows，The overall cognitive ability of bet365 mobile betting consumers has declined。

　　Second，bet365 mobile betting consumers are more susceptible to information manipulation by bet365 mobile betting institutions through technical means。There are many examples of offline bet365 mobile betting transactions taking advantage of consumer cognitive biases，For example, improper expression of yield、Fuzzification of key contract terms, etc.，The current laws and regulations have more regulations。bet365 mobile betting products online marketing，bet365 mobile betting institutions use technical means to control bet365 mobile betting consumers’ information at a lower cost，and，This kind of information manipulation is more concealed，More harmful。For example，bet365 mobile betting product marketing through mobile Internet applications，In the case where the mobile interface is extremely limited，bet365 mobile betting institutions can adjust the page layout at any time，The layers of nesting of transaction paths，Increase consumers’ information search costs；Change the recommended order of different bet365 mobile betting products in the application interface，Inducing consumers to make purchase decisions through specific information presentation；Via picture、More ways to promote products such as videos，Change consumer perception，Strengthen persuasion to consumers。

　　Third，Cognitive bias of bet365 mobile betting consumer groups and failure of the principle of appropriateness of bet365 mobile betting consumers。Based on the technical characteristics of online transactions，bet365 mobile betting institutions can obtain a large amount of consumer information at a low cost，And through big data analysis、User portraits and other methods to accurately push bet365 mobile betting product information to consumers，The best match for bet365 mobile betting transactions。bet365 mobile betting products are a unique type of transaction，According to the principles of the Advertising Law，Its advertising platform should be limited、Purchase target、Advertising forms, etc.，In order to comply with the principle of bet365 mobile betting consumer suitability。But in practice，bet365 mobile betting institutions use Internet technology for indiscriminate advertising and product promotion，Online marketing of bet365 mobile betting products enables wider realization of bet365 mobile betting product information、Lower cost communication，Cognitive bias leading to bet365 mobile betting consumer groups，Failure of the bet365 mobile betting Consumer Suitability Principle。

　Legal regulations on online marketing of bet365 mobile betting products

Internet marketing has not changed the nature of bet365 mobile betting transactions，But it has substantially changed the transaction form and rights structure，And pose a challenge to existing laws and regulations。The reason why online marketing of bet365 mobile betting products requires special regulations，The main reason is that it is significantly different from offline bet365 mobile betting transactions，Legal regulations regarding online transactions of bet365 mobile betting products cannot simply copy and replicate the relevant rules of traditional bet365 mobile betting transactions。Online marketing can be more scene-based，Marketing methods are not limited to information transmission，More emotional appeals、Scene interaction and other factors affect consumer perception、New marketing methods of psychology and behavior，These methods are more concealed and more persuasive，Inappropriately increasing consumers’ stickiness to bet365 mobile betting services；Combining online sales of bet365 mobile betting products with general product sales，Under the influence of consumerism，Makes consumers want bet365 mobile betting services，Form deep binding，For example, more convenient installment services and faster credit loans，Enable consumers to more conveniently purchase products that exceed their actual consumption capacity，Thus forming a deep dependence on credit bet365 mobile betting services。Changes in the form of transactions can lead to substantial changes in the rights structure，Thus giving rise to new legal needs。

Regulations of the "Measures for the Management of Online Marketing of bet365 mobile betting Products (Draft for Comments)" (2021)，“Carry out online marketing of bet365 mobile betting products，Should abide by relevant laws, regulations and social order and good customs，Honest and trustworthy，Fair competition，Protect bet365 mobile betting consumers’ right to know、Right of independent choice and personal information security，No harm to national interests、Public interests and legitimate rights and interests of bet365 mobile betting consumers”。This consultation draft regulates the content of marketing promotions、Marketing Promotional Code of Conduct、Specific provisions have been made on the marketing cooperation code of conduct and other aspects。Combined with the characteristics of online marketing of bet365 mobile betting products，The institutional framework for bet365 mobile betting consumer protection should be improved。

　　First, build a rule system for online transactions of bet365 mobile betting products.Internet marketing of bet365 mobile betting products is a special transaction，The current legal rules for bet365 mobile betting transactions cannot effectively match new transaction scenarios and forms，Transaction relationships and behavioral characteristics that should be based on online marketing of bet365 mobile betting products，Re-examine relevant laws and regulations，Especially based on behavioral economics、Related theories in psychology and cognitive science，Effective institutional supply based on the cognitive laws and decision-making patterns of bet365 mobile betting consumers。There is a big cognitive difference between bet365 mobile betting consumers in online marketing of bet365 mobile betting products and general bet365 mobile betting consumers，This has been proven by relevant economic theories and psychological theories，On the basis of making full use of relevant theories，Can carry out effective rule design。So，The rule system for online transactions of bet365 mobile betting products should be constructed from a holism perspective。

　　Second, effective disclosure of specific transaction information.In traditional information asymmetry，Increase the supply of information to information-vulnerable subjects，Thus changing the information distribution，Can change the decision-making ability of information-vulnerable subjects to a certain extent，Improve decision-making quality，So，In many systems, the mandatory disclosure of information is emphasized。But for the information asymmetry formed by cognitive bias，Simple information supply is far from enough，It may even have the opposite effect，Especially with the technical means of big data and user portraits，The user was built an information cocoon room，Form a specific cognition or preference，It cannot be changed by simple information supply。So，In online sales of bet365 mobile betting products，Simple information disclosure cannot achieve the desired institutional effect，Need to be combined with the transaction process、Product Features、Consumers’ cognitive model and other factors，Effective disclosure of specific transaction information。For example，In the marketing of loan bet365 mobile betting products，Need to accurately indicate the annual interest rate of the product，It is forbidden to use "1000 yuan for one day only costs 0.15 yuan” and other similar expressions，Otherwise, it is easy for consumers to misunderstand the cost of borrowing，As a result, lending behavior that is inappropriate or exceeds one’s own consumption capacity。In the online sales of ordinary products，The bet365 mobile betting services related to them should be clearly labeled，It is forbidden to bind the sales of ordinary products and the online sales of bet365 mobile betting products by default check。

　　Third, the prohibition of recommending certificates in online sales of bet365 mobile betting products.Online sales of bet365 mobile betting products involve a large amount of advertising，Therefore it also needs to be examined within the framework of the Advertising Law，At present, there are many areas for improvement in the regulation of different types of products in my country’s Advertising Law。Among them，The design of advertising terms for bet365 mobile betting products is not precise enough。Article 25 of my country’s current “Advertising Law” mainly stipulates the advertising of bet365 mobile betting products，Professional institutions and personnel are prohibited from recommending consumers，The purpose of this system is to prevent professional institutions and personnel from making recommendations based on their professionalism，Consumers may make consumption misjudgments based on professional trust in professional institutions and personnel。The risks and returns of bet365 mobile betting products are affected by many factors，It is also difficult for professional institutions and personnel to make accurate predictions。Therefore，Their recommendations and certifications cannot guarantee the effectiveness of bet365 mobile betting products，Prohibiting professional institutions and personnel from recommending bet365 mobile betting products to consumers is in line with the risk logic of the bet365 mobile betting market and bet365 mobile betting products。However, this provision of the Advertising Law does not prohibit celebrities and other subjects from recommending certificates。With economic development and bet365 mobile betting innovation，There are more and more types of bet365 mobile betting products，The rise of Internet finance has accelerated the update and iteration of bet365 mobile betting products。The advancement of Internet technology has enabled the release of bet365 mobile betting products、Purchase、Transaction、Redemption is becoming more and more convenient，In the policy context of inclusive finance，More and more bet365 mobile betting consumers who do not have corresponding bet365 mobile betting knowledge and risk tolerance will enter the Internet bet365 mobile betting market，Purchase corresponding bet365 mobile betting products。They lack bet365 mobile betting knowledge，Consumption decisions are easily influenced by spokespersons such as celebrities，Thereby resulting in inappropriate trading behavior。So，From the perspective of the institutional purpose of Article 25 of the Advertising Law，The institutional consequences of celebrity endorsements are the same as those of endorsements by professional organizations and personnel，It can also cause improper inducement to bet365 mobile betting consumers。Therefore，In online marketing of bet365 mobile betting products，Any form of product recommendation should be prohibited，Protecting the attention of bet365 mobile betting consumers，To ensure independent judgment。

　　Fourth, the implementation of the principle of bet365 mobile betting consumer appropriateness.On the one hand，In the Internet age, information is widespread、Propagated without distinction，It is possible for anyone to receive relevant information at low cost，Even overwhelmed by all kinds of information。In bet365 mobile betting markets，The proliferation of bet365 mobile betting product information will cause relevant information to be received by inappropriate subjects，And prompt it to enter the transaction process，Therefore, it is difficult to effectively implement the principle of appropriateness of bet365 mobile betting consumers in the context of the Internet。On the other hand，Utilizing big data、Technical means such as user portraits，bet365 mobile betting institutions can obtain consumer information at a relatively low cost，Accurately grasp consumers’ cognitive patterns and behavioral patterns，Based on bet365 mobile betting consumer’s property status、Behavioral Preferences、Risk Capacity、Cognitive level, etc.，Match and provide appropriate bet365 mobile betting products，This also indirectly affects the implementation of the principle of appropriateness。Therefore，bet365 mobile betting products online marketing，Technology has a dual effect，Supervision of bet365 mobile betting institutions’ algorithms should be strengthened，Avoid technology abuse，Effectively implement the principle of bet365 mobile betting consumer appropriateness。

　(This article is a phased result of the National Social Science Fund Youth Project "Research on the Judicial Path of Legal Regulation of the Sharing Economy" (19CFX065)

(The author is an associate professor at Shenzhen University Law School)