Flutter introduces £500 loss limit for under-25s in UK & Ireland

World-leading gambling operator Flutter Entertainment has announced plans to reinforce a £500 monthly loss limit for its younger customers.

The measure, which targets British and Irish bettors aged 25 years and below, aims to strengthen the company’s player protection policy and also encourage healthy spending habits among younger players.

According to the operator, the decision to introduce the deposit limit for under 25s was informed by the recognition that younger customers experience several life changes that put them at a higher risk of spending frivolously.

“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,” explained Conor Grant, Chief Executive of Flutter UK & Ireland.

“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 has also promised to make an exception for customers who will be able to demonstrate that their income can sustain an increased level of spending. However, these players will be subjected to a rigorous evaluation process before they are allowed to deposit higher amounts of money.

The measure will be reinforced across all iGaming and online sports betting platforms owned by the operator in the UK and Ireland. These include Sky Betting & Gaming, Paddy Power, and Betfair.

Poll reveals support for new restrictions

In its statement about the new measure, Flutter noted that gamblers across the UK and Ireland support the introduction of the new measure to protect younger players. The operator used data collected from its own research to back this claim.

In one of the polls cited by Flutter, 77% of players of all ages approved the measure. The other poll, which targeted young people between the ages of 18 and 24 years, showed that 78% of the participants supported the reinforcement of the additional restrictions.

The company will leverage its unique risk-based technology, which monitors player activity and behaviours to enforce the cap.

The solution will be integrated with the operator’s Affordability Triple Step program, which was created to ensure the safety of players as they gamble on various platforms operated by the company, as well as make sure that they enjoy the activity without losing massive and unaffordable amounts of money.

Flutter to share program data with UK Government

Grant revealed that Flutter is planning to share the details of its new player protection scheme with the UK Government in support of the ongoing 2005 Gambling Act Review. The review seeks to create a better and more efficient regulatory framework for licensed operators in order to protect players from gambling harm.

“We will be sharing our thinking and data with the government and hope this new measure helps in terms of providing further ideas, evidence, and potential solutions as it continues its review of the gambling legislation,” the CEO said.

“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.”

Flutter is the first operator in the UK and Ireland to implement a deposit limit for younger players.

The company’s announcement coincides with the Gambling Commission confirming plans to bring in new financial thresholds in a bid to create a safer market.