Flutter launches £500 loss limit for under 25s in the UK and Ireland
Stricter safeguards introduced for young players
Flutter, the company behind no wagering casinos such as Paddy Power and Betfair have announced a £500 maximum monthly loss limit on players under the age of 25.
The new policy will be automatically implemented immediately for all customers under the age of 25 that have a Paddy Power, Betfair or Sky Betting & Gaming account in the United Kingdom and in Ireland, preventing any customer within this age group from spending beyond that limit.
Why has Flutter introduced loss limits for under 25s?
Explaining their decision, Flutter said that 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.
They also made the comparison with industries such as finance and car insurance, who also recognise that younger customers overall have a higher risk profile.
Flutter UK & Ireland Chief Executive Conor Grant also announced that the company would be sharing details of the scheme with the government to support their review of the 2005 Gambling Act, with the aim of providing further ideas, evidence and potential solutions for future laws.
Is it possible for those under 25s to spend above the loss limit?
Yes, Flutter has stated that a small number of customers who can demonstrate that they have the funds to sustain an increased level of spending above the £500 limit will need to go through a detailed affordability process before an alternative limit can be set.
Their three-step risk assessment will use real-time data to monitor players activity and behaviours to ensure that their gambling remains safe and enjoyable at all times.
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