The world’s largest online gambling company, Flutter Entertainment, has introduced some pretty significant changes. From now on, those who bet through the company’s channels will have to deal with a £500and €500 loss limit. This affects all bettors who are 25 or younger in the UK and Ireland.
It seems that Flutter seeks to pre-empt a UK government review of the country’s Gambling Act, as the law is expected to impose tighter restrictions on the gambling industry.
Ireland could also tighten its laws on gambling soon. Irish president Michael D Higgins has recently spoken of the “scourge of sports gambling” and “dangerous gambling advertisements.”
Conor Grant, head of the UK and Ireland for Flutter, said:
“This is an evolution of sustainable spending that we’re trying to encourage. There is a very fine balance for us in providing the safety net and dictating what customers can and can’t do with their own money.”
He stated that 5 percent of Flutter’s 750,000 customers in the isles could be affected by this policy.
Flutter has experienced significant revenue growth recently. The company reported £3.1 billion ($4.29 billion) in the first six months of 2021.
“Wherever we operate, we’re committed to introducing measures which instill the highest standards of customer protections, working with regulators, the wide industry, or even unilaterally as we’ve done recently in Ireland with a self-imposed credit card ban, among other measures,” Flutter CEO Peter Jackson said.
