Paddy Power Founder Compares Online Slot Machines To 'Crack Cocaine'
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Paddy Power founder Stewart Kenny has compared online gambling and slot machines to ‘crack cocaine,’ sharing his concerns about the addictive habit.
The former chief executive of the Irish bookmaker has, since his resignation, heavily criticised the industry and government for failing to combat gambling addiction.
Mr Kenny is now calling for the Dáil to bring in legislation that would allow for gambling to continue safely with stricter measures in place.
Speaking to Claire Byrne on RTE Radio One, Stewart Kenny explained that, after stepping away from Paddy Power, he qualified as a psychotherapist.
Although his main focus is coaching people with ADHD, Mr Kenny learned about addiction in his studies.
‘I studied addiction and I became more and more aware of what makes a product addictive. It is the speed between putting the bet on and the result, and how quickly you can repeat it,’ he said.
While the founder shared that he does still enjoy gambling, he said that his concerns lie especially with the effect that the internet has had on the industry and its players.
‘Where I went totally wrong, and I do regret it, is I didn’t see that the internet, by its nature is quite addictive – because it gets you into a zone. And when you join that with gambling, there needs to be curbs.’
As an example, Mr Kenny told Claire Byrne on Tuesday: ‘When an 18-year-old opens a sports betting account, within a few days they’re being offered free spins in the casino, which is much more addictive.’
He continued: ‘I wouldn’t want my grandchildren to open a betting account with that luring in the casino. The casino is highly addictive — the online casino — like slots are the crack cocaine of gambling.
Accepting that he is also partially to blame for gambling addictions in Ireland, Stewart Kenny insisted that there are certain things that the Dáil can and should act on, ‘and not hide behind a regulator.’
He continued: ‘When you open an account you’re probably very rational… and you know what you can afford to lose. But in a moment of madness, you can blow everything.’
Especially concerned about the effects of gambling on young people, Mr Kenny suggested that any advertisements for casinos on sports betting apps should be banned for those under age 25, suggesting that the two sectors of gambling be kept separate at all costs.
‘I’m not saying sports gambling doesn’t have any addiction problems, it does. But I believe that there should be separate accounts, that you can’t just merge them into one. And for under 25’s, there should be no luring into the casino from sports betting. If there’s one point I’d like to make, it’s that.’
