Åland-based gambling company Paf will be the first international gambling company to introduce a loss limit from September 1, 2018 but it will come at a cost with an expected 5 percent drop in income.
From implementation, customers playing at Paf.com will not be able to lose more than Euro 30,000 over a 12-month period, adding to Paf’s many responsible gambling measures.
During 2017, Paf said it had increased the number of customer contacts to prevent problem gambling by almost 500 percent over the previous year, from roughly 1,900 to roughly 9,400 contacts.
“We will continue presenting personal gaming history graphs to our customers and encourage them to use the tools we provide online for voluntarily setting gaming limits that match each customer’s individual conditions,” CEO Christer Fahlstedt said.
Paf, in its feedback comments on the re-regulation of the Swedish market, a market it hopes to operate in, suggested a collective hard cap on gambling spend.
“We don’t want to see people’s lives destroyed because of gambling addiction. There has to be a way back. We hope that Paf’s new hard cap will take us in the right direction,” Fahlstedt added.
The consequence of the loss limit means Paf will lose around 5 percent of its income, but the company believes the greater good outweighs any losses.
“Among those who have reached the limit are also those who don’t have a problem, but who can afford to play with high stakes. We will lose these customers, but for us the annual loss limit is still something we want to commit to. The good sides simply outweigh the bad,” Fahlstedt concluded.