$53.9 Million Was Spent in the First Half of the Year Across the UK and Ireland

By John Isaac,
Editor at online-gambling.com

John Isaac Editor at online-gambling.com

John Isaac is an editor with many years of experience in the gambling industry. He writes expert articles on card games like blackjack and poker. In addition, he is also well aware of the US gambling laws and the Indian and Dutch gambling markets. You can rely on verified information and insightful details.

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Last updated: October 15, 2022

Flutter Entertainment presently invests more than $112 million (EUR 100 million) annually in initiatives promoting safer gambling in Britain and Ireland. The increased efforts on responsible gaming come as the government in both jurisdictions is working to tighten their regulations.

Conor Grant, Flutter CEO for the UK and Ireland, estimates that in the first half of this year, the company spent $53.9 million (GBP 48 million) across the two countries. The total in 2021 WAS GBP 93 million.

In August, Flutter disclosed its financial results for H1. UK revenues decreased by 4% in comparison to the same period last year. This decline is traced to the implementation of safer gambling initiatives and reduced user activity in online verticals.

Conor Grant acknowledged to Irish Times that the company had taken some pain, but he maintains that it is the proper thing to do. He asserts that the focus should be on the long-term viability of the business and that a large majority of the group’s investors are in support of their approach. Conor Grant also stated that no one wants to gain from the suffering of others.

Regulation May Soon Arrive in Ireland

It appears that regulation will soon arrive for the Irish gambling market. This is important for Flutter because the company has its headquarters, websites, and betting ships operational there. The government recently named Anne Marie Caulfield the Chief Executive Officer (CEO) Designate of the Gambling Regulatory Authority of Ireland. This fall, legislation will be published. It will modernize a 90-year-old law in the region and formally establish the new body.

The authority will issue licenses to betting businesses, including casinos, sportsbooks, and websites. It will have the power to punish operators who violate the law and, if necessary, revoke their licenses. It will monitor their advertising, demand that they give to a fund to support problem gambling, prevent fraud, and provide more comprehensive consumer protection. Conor Grant says the new body is anticipated to be operational next year. He noted that Flutter always favors regulation since it ensures “a level playing field for everyone.”

Conor Grant further said that there had yet to be a regulatory framework in Ireland. He said it’s important to ensure that this is well-resourced and well-funded. He did, however, note that the Republic has a history of failing to give statutory regulators the funding they require and that there is a chance it would make the same error again.

Anne Marie Caulfield’s Appointment Is Questioned

Stewart Kenny, a former chief executive and board member of Flutter’s Paddy Powers, has questioned the appointment of Caulfield. He believes the government is supposed to find someone with direct, international experience handling the modern betting industry. Stewart Kenny feels that the country should have considered Austria or other regions and nations that have progressed in combating problem gambling in the online era.

He argues that neither the Coalition nor James Browne, who is the Minister of State with responsibility for Law Reform, seem really interested in either the problem at hand or the new regulator.