Flutter Entertainment plc, the world’s biggest online gambling company, is to launch a cap on monthly betting expenditure for younger customers from Ireland and UK.
Flutter is introducing a €500 or £500 monthly cap on losses for its younger Irish and UK customers under the age of 25. The company is planning to launch the limit by the end of 2021 or in early 2022.
As a result of this, Flutter Entertainment has become the first bookmaker to limit the amount young gamblers can lose, this is one of the measures made to alleviate the problem with gambling.
Conor Grant, Chief Executive of Flutter in the UK and Ireland, said:
“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”
He also added: “We want anyone who decides to gamble when they come of age to get in the habit of setting sensible spending limits.”
Flutter has already introduced a range of safer gambling measures this year, including banning credit cards and committing 1% of net gaming revenue to support the treatment of problematic gambling.
About Flutter Entertainment
Flutter Entertainment plc is an Irish betting holding company created from the merger of Paddy Power and Betfair. The company is a global sports betting, gaming, and entertainment provider for over fourteen million customers worldwide.
Flutter Entertainment operates as four divisions, including several brands like PokerStars, Skybet, Betfair, Adjarabet, BetEasy, FanDuel, Fox Bet, Full Tilt Poker, Paddy Power, Sportsbet.com.au, TVG Network and Timeform.
Gilbert Fletcher is an ex financial journalist from Cambridgeshire, England. Gilbert worked with several leading financial publications before joining Gaming Industry Media.