Paf drops annual loss limit for 20 to 24-year-olds to €8,000
Nordic operator confirms decrease as CEO highlights firm’s responsibility to protect young people from gambling-related harm
Paf has once again lowered its mandatory loss limit for 20 to 24-year-olds as part of the firm’s responsible gambling push.
The Åland Islands-based operator has dropped the annual loss limit for the demographic from €10,000 to €8,000.
The €10,000 loss limit for 20 to 24-year-olds was introduced in October 2022 to sit alongside Paf’s customer-wide €20,000 annual loss limit that was in place at the time as part of its commitment to responsible gambling.
In addition, customers aged 18 and 19 are subject to a €1,800 annual loss limit, which was introduced in April 2023.
Alongside introducing the €1,800 limit, Paf also dropped its annual loss €20,000 limit to €17,500.
While the adjustment to the loss limit for 20 to 24-year-olds has changed, the €1,800 and €17,500 limits have not been altered.
In a statement, Paf noted that young people aged between 18 and 24 are at a “higher risk of developing problems with their gambling”.
Paf confirmed that the reduced loss limit has already been implemented across all its sites and markets.
It first introduced an annual loss limit of €30,000 in 2018. That later dropped to €25,000 followed by a further drop to €20,000 in September 2020.
Paf CEO Christer Fahlstedt said the business was “not selling teddy bears” and as result had a responsibility to protect its customers.
He said: “This is an important continuation of the responsible gaming direction we are striving towards at Paf.
“Now young customers can only play with us for amounts that are at a more sustainable level and within the framework of the customer segment that we have defined ourselves as the green segment.
“We need to be able to be sustainable in the long term. We believe that in a future highly regulated European market, you cannot lose more than €8,000 a year, which can be equivalent to an expensive leisure activity.”
Daniela Johansson, Paf deputy CEO, added: “We believe it is important to focus on young people and their gambling from a responsible gaming perspective. Together with our other responsible gaming measures, the loss limits are a good complement for better responsible gaming.”