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The betting group behind Paddy Power and Betfair has become the first bookmaker to limit the amount young gamblers can lose – in a bid to curb the ruinous impact of addiction.
Flutter, the brands’ parent company, said customers under the age of 25 will be limited to £500 worth of losses per month.
The Irish giant, which is the UK’s biggest online gambling firm, said around 35,000 under-25s sometimes lost more than the cap in the UK and Ireland.
The betting group behind Paddy Power and Betfair has become the first bookmaker to limit the amount young gamblers can lose – in a bid to curb the ruinous impact of addiction (file image)
The ‘small number’ who can afford to lose more than £500 will go through a ‘detailed process’ to check their finances before the limit is increased, it added.
Yesterday’s announcement comes as the Government prepares to introduce tougher gambling laws within weeks amid an ongoing review.
But it was met with derision by critics who said the timing of the new policy had ‘the whiff of self-preservation’.
And they added that the cap was still above the £450-a-month which the Gambling Commission estimates most gamblers can afford.
Henrietta Bowden-Jones, the NHS’s top gambling addiction expert, said: ‘Capping losses for under-25s at £500 a month should not be applauded.
'Even £100-a-month losses would be
