Flutter Entertainment announced on Monday that it is putting a deposit limit on young players in the UK and Ireland. Effective immediately, customers under the age of 25 on Betfair, Paddy Power, and Sky Betting & Gaming will have a net deposit limit of £500 per month.
Flutter is willing to make exceptions for some players who “can demonstrate income to sustain an increased level of spend,” but those players will need to take a number of steps before seeing their limits raised. The company says the deposit limit is part of its “Affordability Triple Step,” designed to detect problem gambling behavior.
“The policy is based on a recognition that early adulthood is characterised by a range of significant life changes, such as moving away from the family home and gaining financial independence,” Flutter said. “It’s recognised across industries including finance and car insurance that younger customers overall have a higher risk profile, and our own research supports this.”
Flutter added that in a poll that it commissioned, 77% of gamblers approved such measures to protect younger people. That tracks with the young demographic itself, as 78% of 18-24 year olds were in favor.
Conor Grant, CEO of Flutter UK & Ireland, said of the new 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.”
He added that the company will share its data and results with the government in hopes that it can be used to help craft positive solutions and shape legislation.
“The review provides a once in a generation opportunity to bring gambling rules into the digital age, and while we believe that the changes it will bring are critical, we won’t wait to implement ground-breaking policies that will make a difference for our customers,” Grant said.
Flutter Entertainment, which also owns PokerStars, also announced on Wednesday that it has joined the European Gaming and Betting Association (EGBA), a trade association that represents online gambling companies that are based in the European Union. As one of the largest online gambling operators in the world and a major mover in the industry, Flutter’s addition is a significant one for the EGBA.
Maarten Haijer, Secretary General of the EGBA, said that “its membership will enable us to strengthen our existing efforts to encourage and deepen industry cooperation and participation at European level.”
“We are determined to ensure Europe’s online gambling sector is more united and coordinated in its objectives and responsibilities, and we continue to invite Europe’s other reputable online gambling companies to join us in this mission.”