Paf lowers annual mandatory loss limits for all players to €16,000
Åland Islands-based operator’s CEO Christer Fahlstedt sets future target of €8,000 a year, while limits for players aged 20-24 also lowered separately
Paf has lowered its annual mandatory loss limits for all players from €17,500 (£14,577) to €16,000 as part of the operator’s efforts to set “standard for responsible gaming”.
The limit applies to all players and represents the latest loss reduction since Q2 2023 when the Åland Islands-based operator dropped its mandatory annual loss limits for all players from €20,000 to €17,500.
Paf first introduced a €30,000 loss limit for users in 2018, before lowering the level to €25,000 and then €20,000 by September 2020.
Alongside the customer-wide decrease, players aged between 20 and 24 have had their loss limits lowered from €8,000 to €6,000 per year
Players can still set their own limits but the mandatory limits cannot be exceeded, the operator added.
The move comes three years after Paf first introduced loss limits for players aged between 18 to 24. Last year, the rate was reduced from €10,000 to €8,000.
In Q2 2023, customers aged 18 and 19 had their loss limit dramatically reduced from €10,000 to €1,800 per year.
The latest measure is part of the operator’s plans to lower the loss limit for all players to €8,000 eventually, with Paf CEO Christer Fahlstedt saying the reductions need to be introduced at a sustainable pace.
Fahlstedt suggested the operator is setting a responsible gambling standard that other firms cannot keep up with.
Fahlstedt commented: “We want to be a sustainable entertainment company for our customers, for our employees and for our owners. We are now taking the next step towards more sustainable revenues.
“We are setting a standard for responsible gaming that is increasingly difficult for other companies to follow.
“We haven’t reached where we want to be yet, we have a target for the future where the limit is €8,000 a year, but we need to make the reductions at a pace we can manage.”
Christer Fahlstedt
On the decision to lower the limit for players aged 20 to 24, deputy CEO Daniela Johnson said it was the “right thing to do”.
Johnson added: “We want to continue to prioritise young customers and strengthen the responsible gaming approach we take towards them. It is a concrete thing to do and it is the right thing to do.
“Centralised deposit limits that customers can set themselves and that apply across all gaming operators would significantly improve responsible gaming and minimise the problems that arise when customers jump between operators.”