Paf has declared that “voluntary gaming limits have no effect,” as the gaming operator decides to reduce their annual maximum loss limit to € 25,000.
Last year, the company based in Åland Islands introduced a maximum limit of € 30,000 for the amount players can lose per annum, as it is also reported that the new decision means that Paf will lose approximately two percent of revenue, which is equivalent to € 2 million.
The new € 25,000 reduced profit threshold will come into impact on 1 January 2020 and will extend to all internet games at Paf instantly.
Christer Fahlstedt, Paf CEO, explained: “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 €30,000.
“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.
“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.”
Adding to fresh Stockholm University studies stating voluntary limitations on gaming has no impact: “This new research reaches a terrible conclusion. It shows that one of the most common tools for responsible gaming – setting your own voluntary limits – is worthless and does not work. That’s why we have chosen to lower our fixed mandatory loss limit further because it has a real effect.”
As Paf’s quantity of large players remains to decrease at a rapid rate, accounting for only 0.08% of players in its database, Daniela Johansson, Paf Deputy CEO and Chief Responsibility Officer, added:
“All of Paf’s profits go to the benefit of society. Therefore we should also be able to say that the money we earn has not caused major problems in society.
“That is why we want to highlight the figures while doing something for real to stop big players. We are also encouraging others in the gaming industry to follow suit.”