Flutter Entertainment has announced a new policy that would see all consumers under the age of 25 receive a £500 monthly spending limit.
The new policy will apply to all consumers in the UK and Ireland who use the Paddy Power, Betfair, and Sky Betting & Gaming brands, as the operator seeks to “further enhance protections for younger customers and encourage sensible spending across its platforms.”
Customers who can show they have enough income to maintain a higher level of spending will have to go through a “detailed process” before an alternative limit is set, according to the organisation.
Risk-based affordability triple step structure
The move is part of Flutter’s risk-based affordability triple step structure, a risk-based service that employs real-time data to track player activity and behaviour to keep gambling safe and entertaining for clients.
Flutter UK&I’s CEO, Conor Grant, said: “We are continuously looking at ways we can enhance protections for our customers, particularly those who are young or may be vulnerable.
“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 and this measure is the latest we are introducing to help make this happen.”
According to the group’s polls, 77 percent of regular gamblers approved of the new initiatives geared at the younger generation, with positive response reaching 78 percent among those aged 18 to 24.
Flutter has used Adtech to avoid targeting individuals under the age of 25 with ‘paid for’ social media marketing by employing specialised age marketers on data models, in addition to setting a new deposit limit.
The association has also mandated that gambling adverts on search engines be clear about their targeting of those over the age of 18, and it banned credit card payments for both retail and online transactions early this year.
“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,” Grant continued.
“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.”