Paf Further Reduces its Yearly Loss Limit for Customers

Paf, the Åland-based gambling company, has cut its yearly loss limit for customers by €5000. This loss limit has significantly reduced the number of big players at Paf. When the yearly loss limit was introduced last year, it was set at €30,000. Paf has now chosen to reduce this maximum limit to €25,000.

“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 €2000 a month on average,” Christer Fahlstedt, CEO of Paf said.

“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,” Christer Fahlstedt added.

The Paf’s decision to reduce its mandatory loss limit will lose about 2% of its revenue, which corresponds to about €2 million.

“Of course, it is not good to lose revenue, but we are doing well as a gaming company and I am sure that our customers appreciate the position we have taken,” Christer Fahlstedt said.

“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,” Daniela Johansson, Paf Deputy CEO and Chief Responsibility Officer said.

The new lower loss limit of €25,000 will take effect on 1 January 2020 and will apply immediately to all online players at Paf.