Nordic gaming company Paf has set new mandatory online gambling loss limits as part of its responsible gaming strategy.
A mandatory online gambling loss limit of €1,800 per year for customers aged 18-19 has been introduced, as well as a reduction in the annual loss limit for all customers from €20,000 to €17,500. It will apply to all of the firm’s game categories and websites.
To be implemented this summer, the annual loss limit update is part of several measures being introduced which are expected to cost Paf approximately €7m.
CEO Christer Fahlstedt has stated that these changes are part of Paf’s responsible gaming strategy.
“Paf is making its biggest investment in responsible gaming ever. We are adjusting a number of different limits and the overall impact of our measures will make a noticeable difference in our numbers and customer segments,” stated Fahlstedt.
“We have an opportunity to take another step and improve our commitment to responsible gaming. It’s something we want to do because it’s the right thing to do if we are to continue our journey to become a sustainable entertainment company.”
The lowering of the loss limit for those aged 18-19 represents an 82% reduction from the previous limit of €10,000, something that Deputy CEO & Chief Responsibility Officer Daniela Johansson says is the right thing to do.
“The change further strengthens our RG-focus on young people, which is good because it is in line with the research on gambling problems that says young adults are an extra vulnerable group when it comes to gambling,” noted Johansson.
Since 2017, Paf has been sharing data on customers’ winnings and losses and how different customer segments have developed. In recent years, the company has also reduced the number of customers playing for larger sums and increased those playing for smaller amounts.
“We will continue to implement responsible gaming measures that improve the numbers in our customer segments. We will set a standard for gaming companies when it comes to responsibility, a standard that other international gaming companies can and should follow,” added Fahlstedt.