Flutter plans 500 Euro loss-limit for U25 players

As it was announced a few days ago, the gambling group Flutter Entertainment plans the introduction of a monthly loss-limit for young gamblers. Thus there will be a monthly deposit, or as the case may be, loss-limit of 500 Euro or 500 GBP for all players under 25 years. But does a flat rate loss-limit for U25 players make sense?

Just at the beginning of this year we had reported about the donation worth millions to the gambling addiction help BeGambleAware. Hereby the Flutter Entertainment plc was at the top of the list of the most generous donators. As the economic portal MarketScreener reported some days ago, the gambling group is now planning to introduce a loss-limit of 500 Euro per player and month.

Flutter Entertainment wants to protect younger customers

A 500 euro loss-limit will be introduced to offer better protection from the dangers of gambling for the young players who are under 25 years. The Irish gambling group has voluntarily introduced such a guideline without any state obligation. This should be valid for all players in Great Britain and Ireland who are under 25 years. Among others, Betfair, Paddy Power and Sky Betting & Gaming belong to Flutter Entertainment plc. The new 500 Euro loss-limit will automatically be introduced for these brands and other brands of the group. It is planned that the loss-limit will come into force as from the end of 2021 or the beginning of 2022.

In spite of this, under particular circumstances young players still have the possibility to deposit more money. In this case they must show Flutter Entertainment the necessary proof of income which shows that they can afford higher deposits and losses. Till now, there is no other gambling company which has voluntarily introduced flat rate deposit-limits or loss-limits for its customers.

Are younger people really more ready to take a risk?

The gambling giant justified this decision by saying that younger people are more ready to take a risk. For the same reason, car insurances are as a rule much more expensive for younger people, since they cause more accidents, because they are more ready to take a risk.

In this regard, it is interesting to note that from an internal survey in the company, it resulted that 78 % of the 18 to 24-year-olds who took part in this survey have agreed with the introduction of such a loss-limit.

Besides the introduction of the 500 Euro loss-limit there are further measures which should ensure that young people are better protected in the future. Among other things, the Software AdTech will also be used to prevent that young people under 25 years see gambling adverts on the internet.

Conclusion

Very soon the gambling giant Flutter Entertainment will introduce a flat rate loss-limit of 500 Euro or 500 GBP for young players. Exceptions are however possible and under strict conditions wealthy players can also continue making higher deposits. Flutter Entertainment wants to make gambling safer for young people, since these tend to be more ready to take a risk than older people. We are excited to see when the loss-limits will actually be introduced and if exceptions from providers will be permitted or not. It is a fact that the large majority of U25 players can anyway still not afford a monthly gambling loss of 500 Euro or GBP.

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