Paf CEO: Voluntary gambling limits are “worthless”

Allowing gamblers to set voluntary limits on their gambling is “worthless,” according to Åland-based operator Paf, which today beefed up its own limits on player losses.

The company previously introduced a maximum loss of €30,000 per player per year, but today announced a €5,000 cut to €25,000.

Paf CEO Christer Fahlstedt cited new research by Stockholm University that found self-imposed limits on gambling were ineffective.

The study focused on 4,328 slot machine players, and claimed voluntary deposit limits had no effect on the volume of gambling by players during a 90-day period.

Speaking about the findings, Fahlstedt said it was a “terrible conclusion” for existing operator efforts to encourage gamblers to spend less on their gambling.

“It shows that one of the most common tools for responsible gaming – setting your own voluntary limits – is worthless and does not work,” Fahlstedt added.

Paf’s decision to reduce its mandatory loss limit will mean that the company will lose about two percent of revenue, corresponding to an estimated €2 million, the operator said.

However, Fahlstedt said Paf did not want to be seen to give itself a “pat on the back” for its efforts and become complacent on addressing responsible gambling amongst players.

“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,” Fahlstedt added.