Flutter Entertainment has disclosed a new policy which will see the introduction of a spending backstop of £500 per month for all customers under the age of 25.
The new policy will be implemented for all customers across the Paddy Power, Betfair and Sky Betting & Gaming brands in the UK and in Ireland, as the operator looks to “further enhance protections for younger customers and encourage sensible spending across its platforms”.
The group says that those customers that can demonstrate an income to sustain an increased level on spend will have to undertake “a detailed process” before an alternative limit is set.
The move forms part of Flutter’s risk-based affordability triple step framework, a risk-based offering which uses real-time data to monitor player activity and behaviours in a bid to ensure that gambling remains safe and enjoyable for customers.
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.
“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.”
Polls conducted by the group have indicated that 77 per cent of regular gamblers approved the new measures aimed at the younger demographic, with positive feedback among the 18-24 year-old demographic reaching 78 per cent.
In addition to implementing a new deposit limit, Flutter has also leveraged Adtech to avoid targeting consumers under the age of 25 with ‘paid for’ social media marketing by using specific age marketers on data models.
The group has also required gambling advertisements on search engines to provide clarity on the targeting of over 18s, whilst earlier this year it prohibited credit card payments for both retail and online transactions.
“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.”