Flutter Introduce £500 Loss Limits For U25s
Published On 9th September 2021
Safe and responsible gambling has become an important message across all bingo, slots and sportsbook brands in recent years. Under the guideance of The UK Gambling Commission much has been done to improve the industry and improve standards. Whilst some brands implement the bare minimum requirements, others go above and beyond in order to protect customers. For example this month Flutter Entertainment have announced that it is to introduce a new spending backstop of £500 per month for all customers under the age of 25.
Why Introduce The Backstop
According to a news release from Flutter: "The introduction of this spending backstop 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. It’s recognised across industries including finance and car insurance that younger customers overall have a higher risk profile, and our own research supports this. Polling of regular gamblers, commissioned by Flutter, has shown that there is widespread support across all age groups for additional measures to protect and support younger people, with 77% of regular gamblers approving overall. Support for additional measures amongst 18-24 year-olds polled at 78%".
Which Sites Does It Effect?
The new policy will be automatically implemented for all customers under the age of 25 across Paddy Power, Betfair and Sky Betting & Gaming in the UK and in Ireland, preventing any customer in this age group from spending beyond that limit. For the small number of customers who can demonstrate income to sustain an increased level of spend, they will need to go through a detailed process before an alternative limit is set. The deposit backstop is part of Flutter’s Affordability Triple Step, a risk-based framework which uses real-time data to monitor player activity and behaviours to ensure that gambling remains safe and enjoyable for customers.
What Do Flutter Say About It?
Conor Grant, CEO of Flutter UK&I said: "We are continuously looking at ways we can enhance protections for our customers, particularly those who are young or may be vulnerable. 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. 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."
Will Others Follow Suit?
unilateral moves within the gambling industry are unusual so we do expect others to soon follow suit. No one will want to be seen as being irresponsible and not taking on board Flutter's initatives when it comes to the under 25s. Another good reason to follow suit is that it may pre-empt further involvement of The UKGC and Government policy. Combined they do seem intent on working against the main operators rather than with them. There have been rumours of forcing all players into a spending backstop process with caps of £100. Overall this is a good move by Flutter and demonstrates their desire to protect customers.
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