CEO Apologizes for Flutter’s Failure to Protect US Customers

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In the UK, companies have implemented measures to protect customers from problem gambling, such as monitoring customer behaviour and intervening when signs of problem gambling are detected. 

In the US, however, the companies have not implemented similar measures, despite cases of extreme problems with gambling and embezzlement. In contrast, the US market is still growing rapidly, with betting sites for sports betting and casinos becoming increasingly popular. 

Dublin-based online gambling company Flutter, which also operate in the UK, has been accused of failing to protect its customers from problem gambling and fraudulent activities. 

The company’s CEO, Peter Jackson, has publicly apologized for the company’s failure to intervene when customers showed signs of problem gambling. 

There have been two cases where Flutter failed to prevent customers from using stolen money to fund their gambling habits. In one case, an animal shelter employee embezzled over $500,000 and used it to fund his online gambling habits on Flutter’s platform.  

In another case, a finance manager from the Jacksonville Jaguars embezzled $20 million from his employer and lost most of it on Flutter’s FanDuel platform. 

Flutter and its rival, Entain, have implemented fewer safeguards in the US market compared to the UK market. For example, Flutter allows customers to bet up to $800 (£627) per spin on some slot games, whereas in the UK, the company has set a limit of $13 (£10) per spin. 

Experts on gambling addiction say that these types of measures are insufficient because addicts are not good at exercising self-restraint. They argue that online gambling companies should be required to use data on client behaviour to identify potentially compulsive or problem gamblers and take steps to prevent them from continuing to gamble. 

There is less regulatory pressure in the US market compared to the UK, and lawmakers are more focused on generating revenue from online gambling than curbing the industry.  UK online gambling is regulated for longer and subject to stricter rules, leading to a decline in revenue. 

CEO Doesn’t Expect Federal Regulation ‘Anytime Soon’

There are concerns about the lack of regulation and safeguards in the US online gambling market and the potential harm it poses to consumers. It is important for regulators to take action to protect consumers from problem gambling and fraudulent activities. 

The CEO of Flutter has said that he doesn’t expect federal regulation of the industry in the US anytime soon.  

The companies argue that they operate in accordance with local regulations and that implementing stricter measures in the US would not be commercially viable. However, critics argue that this lack of regulation puts customers at risk and allows problem gamblers to continue to harm themselves. 

 

 

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