Flutter Entertainment presented a financial measures plan for dealing with a gambling addiction in Ireland. The giant wants to limit credit card usage and is ready to pay an additional tax to decrease the harm addicts face. Login Casino follows the latest financial news in gambling and explains how the famous firm applies economic instruments in the sector to decline the damage on punters.
Outpacing the possible official changes in the Irish gambling law, Flutter Entertainment, among whose brands are Paddy Power, Sky Bet, and Betfair, presented their own plan of how to help in the prevention of gambling addiction. The initiative launched by the local Labour Party concerning the harm of the amount of gambling advertising found its continuation in the financial measures that operators can take.
Thus, the holding is ready to ban credit cards’ usage in both retail and digital sectors. This step is supposed to help decrease the financial harm that goes in parallel with the uncontrolled spendings by punters who are using loans for gaming.
The gambling operator is also ready to give an additional 1% of the net gaming revenue to support the preventive measures. The latter include the educational part and related research in the sector, while some of the money will also go directly to the treatment of problematic players. According to the forecasts, the total amount of those additional spendings can reach about $1.5 million this year.
What other measures may be applied in Ireland to decrease addiction?
As the Labour Party’s initiative was more about the advertising part, Flutter is ready to ease the pressure in this regard as well. The gaming giant promises to ban whistle-to-whistle ads during live events broadcasting. Also, the operator is ready to stop all the advertising before 9 PM in just two months, since May 1.