Norsk Tipping lowers monthly loss limits for 20-24-year-olds
Government-owned outfit cites need to better protect young adults nearly two years after reducing monthly loss caps for customers aged 18 to 20
Norwegian monopoly operator Norsk Tipping has announced the lowering of the maximum loss caps for online players between the ages of 20 and 24, effective 1 February.
As a result, 20-21-year-olds will now be prevented from incurring losses of more than NOK3,000 (£339) per month.
For those aged between 22 and 24, the new cap is set at NOK5,000.
This update comes nearly two years after the Hamar-headquartered company lowered the monthly limit for 18-20-year-olds to NOK2,000.
Prior to the introduction of age specific thresholds, Norsk Tipping players of all ages were subject to a NOK20,000 monthly loss limit. That limit remains in place for players 25 and older.
Norsk Tipping, which offers lottery, sports betting and instant win games, cited research from both the University of Bergen and the Norwegian Helpline for Gambling Addicts as a reason for targeting young adults with new limits, a group more vulnerable to gambling-related harm than older people.
According to data from the state-owned operator, one in five male players between the ages of 18 and 25 are at risk of gambling-related harm.
Higher living costs as well as financial vulnerability were also highlighted as reasons why young people are more susceptible to accumulating larger losses while gambling.
Norsk Tipping’s announcement stressed the importance of player responsibility and urged users to set their own monthly loss limit.
On average, players who have put such a measure in place set the loss limit at NOK3,600 per month, the operator said.
Bjørn Helge Hoffmann, Norsk Tipping’s head of responsible gaming, said that by lowering loss limits, the operator is helping to prevent problem gambling and aiming to lessen the impact for those suffering gambling-related harm.
The operator noted that an increase in younger players visiting casinos “was a cause for concern” and a factor in the lowering of loss limits for that demographic.
High-risk games like online casino and slots have “lower partial limits”, as per the bookmaker.
Norsk Tipping said few or no national gambling markets in the world “protect customers better against gambling problems than the Norwegian one”.
Norway remains one the last monopoly markets in Europe, with Norsk Tipping and horseracing operator Norsk Rikstoto the only legal sites available to consumers.
It is estimated that unlicensed gambling options account for two-thirds of all the money staked in the country.