Flutter launches £500 monthly deposit cap for under-25s
New responsible gambling initiative will apply to Paddy Power, Betfair and Sky Bet users across UK & Ireland
Flutter Entertainment has introduced a monthly £500 net deposit cap for UK & Ireland customers under the age of 25 across its Paddy Power, Betfair and Sky Bet brands.
The new cap, which comes into force on 6 September, is the latest measure in the firm’s affordability triple-step responsible gambling policy, which was first launched in February.
Players with provably higher income and resultant higher-level spending will be required to pass through a detailed checking process before an alternative limit can be set.
Detailing its rationale behind the cap, Flutter said: “The policy 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,” the firm added.
The FTSE 100 operator highlighted its own commissioned research, which indicates widespread support for the measure.
In a poll of regular gamblers, 77% said they approved of the new measure, with 78% indicating their support for additional measures to protect 18–24-year-olds.
Flutter UK & Ireland CEO Conor Grant said: “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.”
Grant also cited the need to provide immediate protections for Flutter customers while the UK government conducts its review of the Gambling Act 2005.
“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,” said Grant.
“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,” he added.