Åland Island-based gaming operator Paf is introducing a loss limit that will prevent customers from losing more than €30,000 a year.

The new policy will come into force on September 1st in what Paf describes as a first for non-monopoly international gambling businesses.

The loss limit will apply to customers in all markets and will result in the player's account being blocked if gambling losses exceed €30,000 in a year.

This further strengthens Paf's existing responsible gambling controls, such as measures to identify at-risk players and actively communicate with them about thier gaming habits. 

"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," Paf chief executive Christer Fahlstedt said.

Paf, which plans to enter the re-regulated Swedish market when it opens in January 2019, had called for the introduction of a mandatory loss limit in the country's new iGaming regulations. While this was not adopted, it aims to set an example by voluntarily introducing the control.

"The reputation of the gambling [sector] is at a low, and concrete measures need to be taken in order to regain the trust of the public," the operator said.

Paf admitted that the loss limit is likely to hit earnings and that expects to see profit decline by around five per cent as a result of its introduction.

"The customers that reach the €30,000 limit can naturally play at any of our competitors after reaching the limit," Fahlstedt added. "But we hope that being shut out from us will be a warning signal for those who have a gambling problem, perhaps even prompting them to seek help.

"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."


GIQ Magazine Digital Edition