Flutter imposes £500 monthly loss limit for players under 25
Flutter Entertainment, proprietors of major UK gaming brands such as Paddy Power, Betfair and Sky Betting & Gaming, is taking a bold, new move to protect younger players against the ravages of problem gambling. Starting this week, all players under the age of 25 will subject to a new £500 ($692 USD) monthly loss limit. It’s a move that’s not especially popular with other operators, but has the support of the general public and will very likely become standard operating procedure for all UK operators.
Flutter’s new policy may sound counter-intuitive for a large gambling operator, but Flutter has led the way when it comes to instituting protections of this sort. Earlier this year, Paddy Power co-founder Stewart Kenny advocated monthly loss limits for players of all ages.
While other operators may not be keen on loss limits, the general public is very supportive of them. A recent survey conducted by Flutter found that 77 percent of their customers supported the move.
In a statement reported on by the Daily Mail, Conor Grant, chief executive of Flutter in the UK and Ireland described the reasoning behind the move saying, “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. We want anyone who decides to gamble when they come of age to get in the habit of setting sensible spending limits.”
The company is willing to make an exception for well-healed players who can prove their ability to weather large losses after a “detailed process”.
Flutter’s new policy goes into effect immediately and could well serve as a standard for the rest of the UK-facing gaming industry.