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Payments start-up DraftFuel reveals “financial guardrails” to encourage responsible gambling

Fintech start-up DraftFuel has launched an app and prepaid card product to curb problem gambling, especially among first-time bettors.

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As more states legalise sports betting, the company wants to help consumers wager responsibly by providing what it calls “financial guardrails” for new players.

Co-founder Alex Cullingford commented: “We wanted to create DraftFuel to help individuals of any experience level enjoy guilt-free gaming.

“That’s why, beyond the app itself, we will be producing content that our user-base can take advantage of to make smart, responsible decisions.”

DraftFuel is based in Philadelphia and is a partner of Central Payments, which has provided a large network of industry leaders and access to its entire payments ecosystem.

Leveraging this access and its position in the online sportsbook, casino and daily fantasy sports space, the app and debit card are designed to enable users to accumulate money in their DraftFuel accounts via two primary methods.

Method one allows users to connect their pre-existing debit or credit cards to the app, which can then be monitored for the accumulation of “spare change” from everyday purchases such as petrol and coffee. Method two requires users to set up a fixed percentage of their bank deposits to be automatically transferred to their DraftFuel account.

Both methods, according to DraftFuel, “mitigate risk by empowering users to only play with true discretionary funds.” The app should function at all major online sportsbooks, casinos and sports fantasy sites.

Moreover, the prepaid card product is a joint venture between DraftFuel and American financial services giant Discover. Via its Global Network, customers will be able to use their cards wherever Discover is accepted.

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