One of the world’s leading iGaming groups, Flutter Entertainment, has announced the launching of a new £500 (€583) maximum monthly deposit limit for all UK and Ireland customers under the age of 25.
The restriction is designed to strengthen protections for younger players and encourage sensible spending, and it will apply across Flutter’s popular Paddy Power, Betfair and Sky Betting & Gaming brands in the UK and Ireland.
The new restriction, Flutter clarified, can be removed for specific customers on a case-by-case basis, if they are able to demonstrate sufficient income to sustain an increased level of spend.
This process will be carried out using its Affordability Triple Step programme, which is a risk-based framework using real-time data to monitor customer activity and behaviours to ensure that gambling remains safe and enjoyable.
The operator added that according to its own research, 77 per cent of gamblers support additional measures for younger people, whereas 78 per cent of 18-24-year-olds polled backed the new restrictions.
“People under the age of 25 are likely to be experiencing a number of significant life changes, such as gaining independence for the first time and learning how to manage their finances”, Flutter’s UK and Ireland chief executive Conor Grant said, addressing the measure.
“We want anyone who decides to gamble when they come of age to get in the habit of setting sensible spending limits and this measure is the latest we are introducing to help make this happen.”
The company said that about five per cent of the 750,000 gamblers in the UK and Ireland under 25 sometimes lost more than £500 a month.
Mr Grant added that the £500 limit is not a target but a backstop. “There’s a very fine balance for us in providing the safety net and dictating what customers can and can’t do with their money,” he said.
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