Sports betting company Flutter Entertainment will limit losses to young players.
This past Monday, it was announced that sports betting company Flutter Entertainment will limit losses to young players. The group, which owns renowned brands in the field such as Paddy Power and Betfair, has proposed limiting the amount that young players can lose. The news was released by the Irish Independent.
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In the statement, it was specified that young players will have a maximum monthly limit of €500. This application will be effective for users under 25 years of age. The projection of the Flutter company is that this rule will begin to be validated by December of this year, in order to enter 2022 with the guideline already applied.
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This new approach by the company will result in something unprecedented for the sports betting scene. Flutter will be the first sports betting company to limit the amount young people can lose and deposit. Through this, the company will ensure greater responsibility with its users, resulting in a reduction in future problems with the games market.
To further emphasize this new guideline, Flutter revealed that customers who lose more than €500 per month will have to undergo a detailed review of their bail. Only after verifying their guarantees in detail, users will be able to request a limit increase on their deposits.
The CEO of Flutter UK and Ireland, Conor Grant, detailed that young people under 25 will have to go through a series of changes in their deposits and bets. According to the CEO, the company's new approach is to encourage young people to take greater responsibility for their finances and ensure their respective financial independence: "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".
In addition, the CEO emphasized that Flutter is looking to ensure greater security for its users, and this will result in its users taking on a responsibility to set spending limits: "We want anyone who decides to gamble when they come of age to get in the habit of setting sensible spending limits".
Earlier this year, the world's largest sports betting company, Flutter, had already started implementing several new measures to make the gaming market safer for its users. Flutter had previously banned the use of credit cards for online and retail accounts. In addition, the company has also committed to reverting one percent of the net income earned through gambling, to education and treatment of problematic gambling, as well as to support specific research.
Flutter Entertainment
Sports betting company Flutter Entertainment is headquartered in Dublin, Ireland and operates in several financial markets. The company was created through a merger between Paddy Power and Betfair, where it was subsequently purchased by The Stars Group.
The company is currently listed on the London Stock Exchange with the FTSE 100 index. Among its brands, the company has kept alive the Betfair brand, which is considered the biggest sports bookmaker in the Exchange market.
Among other brands, the Flutter company also owns the PokerStars brand, the world's largest virtual poker house. As such, the full list of their brands is extensive, including the company FanDuel. Among other well-known names in the sports betting business, you can find the following brands that are subsidized by Flutter: Adjarabet, BetEasy, Betfair, FanDuel, Fox Bet, Full Tilt Poker, Paddy Power, PokerStars, Sky Bet, Sportsbet.com.au, Timeform and TVG Network.
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