Paf, the Åland-based gaming operator, has lowered its annual loss limit by another 5000 euros.
Paf is the first international gaming company in the world to introduce a maximum limit for the amount customers can lose in one year. The lowering of the loss limit strengthens the firm’s commitment to responsible gaming.
When Paf first introduced the loss limit in 2018, it was set at 30,000 euros per year. Last year the limit was lowered to 25,000 euros and this year it is lowered even further to 20,000 euros.
“We are proud to have been able to lower our loss limit by as much as a third in just two years. We see that our maximum limit effectively stops big spending players and prevents the personal tragedies that can occur when huge amounts are lost,” Christer Fahlstedt, CEO of Paf, said.
“We are now lowering the loss limit further to show that it is possible to survive as a gaming company without income from the biggest big players. We are a gaming company that sells exciting entertainment for adults without trying to squeeze the last drop of money out of them,” Christer Fahlstedt, added.
The further reduction of the loss limit to 20,000 euros per year also means reduced revenues.
“Paf’s income will decrease by approximately 2-3 million euros. It is a large sum of money for Paf, but more importantly it is good for our customers that we say no to it,” Christer Fahlstedt said.
“We work in an industry that has enormous challenges. Paf has been a pioneer for a long time when it comes to responsible gaming and it is part of our mission to lead the way and be a positive agent of change. The lowering of the loss limit strengthens our leading position alongside the very small number of other gaming companies that have dared to adopt a loss limit,” Christer Fahlstedt added.