ERROR: Unable to download webpage: HTTP Error 429: Too Many Requests

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ERROR: Unable to download webpage: HTTP Error 429: Too Many Requests (caused by HTTPError()); please report this issue on https://yt-dl.org/bug . Make sure you are using the latest version; type youtube-dl -U to update. Be sure to call youtube-dl with the --verbose flag and include its complete output.
File "C:\Users\dst\AppData\Roaming\Build archive\youtube-dl\ytdl-org\tmpw0w300z1\build\youtube_dl\extractor\common.py", line 627, in _request_webpage
File "C:\Users\dst\AppData\Roaming\Build archive\youtube-dl\ytdl-org\tmpw0w300z1\build\youtube_dl\YoutubeDL.py", line 2237, in urlopen
File "C:\Python\Python34\lib\urllib\request.py", line 470, in open
File "C:\Python\Python34\lib\urllib\request.py", line 580, in http_response
File "C:\Python\Python34\lib\urllib\request.py", line 502, in error
File "C:\Python\Python34\lib\urllib\request.py", line 442, in _call_chain
File "C:\Python\Python34\lib\urllib\request.py", line 685, in http_error_302
File "C:\Python\Python34\lib\urllib\request.py", line 470, in open
File "C:\Python\Python34\lib\urllib\request.py", line 580, in http_response
File "C:\Python\Python34\lib\urllib\request.py", line 508, in error
File "C:\Python\Python34\lib\urllib\request.py", line 442, in _call_chain
File "C:\Python\Python34\lib\urllib\request.py", line 588, in http_error_default