Betfair owner introduces spending limit for under 25s

The owner of brands such as Betfair, Sky Bet and Paddy Power will introduce a £500 per month net deposit limit for all customers under the age of 25. The new policy will be automatically implemented across all of its brands, preventing customers in this age group spending beyond that limit. 

For the small number of customers who can demonstrate income to sustain an increased level of spend, they will need to go through a detailed process before an alternative limit is set.

The reason why Flutter is looking at under 25s is due to the fact that early adulthood is characterised by a range of significant life changes, such as moving away from the family home and gaining financial independence.

Polling of regular gamblers, commissioned by Flutter, also shows there’s support across all age groups for additional measures to protect and support younger people, with 77% of regular gamblers approving overall. Support for additional measures amongst 18-24 year-olds, meanwhile, polled at 78%.

Commenting on the news, Flutter UK and Ireland’s chief executive 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. 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. 

“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.”