Flutter Entertainment has introduced a new deposit limit for customers under the age of 25 across its sports betting and gaming brands in the UK and Ireland.
The operator will implement a £500 ($689.92) monthly net deposit limit for players under 25 through its Paddy Power, Betfair and Sky Betting & Gaming brands, limiting the amount they can lose per month.
The policy will prevent customers in that age bracket from spending above the set amount, unless customers, who the operator said would be a small amount, can prove they’re able to sustain a higher spend through a detailed vetting process.
The operator said the deposit backstop forms part of its affordability triple step, which uses real-time data to monitor player activity and ensure gambling remains safe for each player. Flutter also mentioned that the policy is based on the acknowledgement early adulthood comes with significant life changes, including financial independence, that gives younger customers a higher risk profile. And its own poll of regular gamblers showed 77% overall approved the new rules while 78% of 18–24-year-olds polled agreed with the measures.
Flutter UK & Ireland CEO Conor Grant said: "We are continuously looking at ways we can enhance protections for our customers, particularly those who are young or may be vulnerable."
"We will be sharing our thinking and data with the government and hope this new measure helps in terms of providing further ideas, evidence and potential solutions as it continues its review of the gambling legislation."
The operator is the first to limit the amount young gamblers can use and comes at a time of a government review into the 2005 Gambling Act in the UK. Under such considerations is potentially introducing stake and deposit limits for online gambling, reducing gambling sponsorship in sport and limiting advertising.
The industry in the UK has introduced measures in recent years to clamp down on problem gambling. This includes a ban on the use of credit cards to gamble and the big ‘five’ operators – Flutter, Entain, bet365, William Hill and Sky Bet – contributing 1% of their gross gambling yield (GGY) to the research, education and treatment of problem gambling by 2023.
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