Younger gamblers in the UK and Ireland should get ready for a big change. On Monday, Flutter Entertainment started putting a deposit limit on customers in Ireland and the UK that are under 25 years of age. This limit is £500 and takes effect immediately on Sky Betting & Gaming, Betfair, and Paddy Power.
Some players may be able to earn themselves an exemption if they can show Flutter that their income is sufficient to qualify them for a higher level of spending. However, there are a number of steps a player will need to take to obtain a higher limit, so don’t depend on breaking the spending cap. Flutter entertainment announced that this limit will be part of their “Affordability Triple Step” that is meant to help detect any problem gambling behavior, and the deposit limit is a core component of this program.
According to the major European gaming company, this new policy recognizes that young adults are experiencing some significant changes in life, such as leaving their family home and becoming financially independent. It further states that its young customers have a higher risk profile which is supported by some research in the area.
There is also a high level of support from the public for protecting these younger customers. In fact, almost 80% of gamblers approve of measures intended to protect younger gamblers. This includes the younger people themselves who overwhelmingly supported the move according to the company’s own poll.
The CEO of Flutter UK & Ireland, Connor Grant, says that he wants anyone who starts to gamble when they reach adulthood to have reasonable spending limits, and this new policy is a way of helping with that. The company plans to share data and results about this latest policy with the government so that it might be useful for generating solutions or legislation in the future. This data should help update gambling laws and make them more relevant in the digital age.
In addition to the spending limit, Flutter Entertainment made another announcement. The company will also be joining the European Gaming and Betting Association (EGBA). This association represents European online gambling companies. Flutter is a very large online gambling company and a major addition to the EGBA. The secretary-general of the EGBA, Maarten Haijer, is hoping that having Flutter as a new member will increase industry cooperation in Europe, and the EGBA hopes more reputable online gambling operators will join the organization.