Åland Islands-based gaming operator Paf has confirmed that it will reduce its maximum yearly loss limit by €5,000 to €25,000, in a bid to prioritise responsible gambling measures.
In 2018, Paf became the first international gaming company to introduce a maximum annual loss limit for its customers. Paf has since confirmed that its initial maximum limit of €30,000 will now be dropped to €25,000.
“We have promised that none of our players should be able to lose their house or their home, that’s why we imposed a loss limit of €30,0000. We have now decided to strengthen that promise for the next year by lowering our maximum limit to €25,000 – which corresponds to just over €2,000 a month on average,” said Paf CEO Christer Fahlstedt.
According to the company, last year decision has significantly reduced the number of high rollers at Paf, and now they consist only 0.08 per cent of the customer database. Reducing further the mandatory loss limit will cost the business approximately two per cent of revenue or about €2m.
“We don’t just want to sit down and pat ourselves on the shoulder when we have done something good. We have followed closely how the situation has developed, taken serious note of what the research says and the feedback we have received. A lower annual loss limit is good for our customers and it’s the most effective thing we can do,” explained Fahlstedt.
The new lower loss limit will take effect on 1 January 2020 and will apply immediately to all online players at Paf.Follow us on