Press Releases
Paf Openly Publishes Its Players’ Annual Wins And Losses
Paf has openly published its players’ annual wins and losses, a unique initiative in the gaming industry. Paf will go further too – by removing all big players and stopping direct marketing to risk players.
Paf has become a pioneer in the gaming industry through its openness. Paf now openly publishes its figures for the wins and losses for all players over the past two years. It’s a unique initiative in an otherwise very secretive industry. Paf’s CEO Christer Fahlstedt calls on other gaming companies to follow suit.
“We are probably the first gaming company in the world to show openly and transparently what our customer database looks like. These are the figures that most gaming companies want to hide because it shows that a few individuals can have an enormous impact on their operating results,” says Christer Fahlstedt.
“We need a genuine debate. By being transparent we want to highlight this issue, which is absolutely crucial for the future of the industry. We urge our colleagues in the gaming industry to share their corresponding figures,” adds Christer Fahlstedt.
Over €4m in reduced revenue
Last year Paf introduced a permanent yearly limit that applies to all customers who play the company’s online games. Paf is the only international gaming company to introduce such a ‘loss limit’. The annual maximum yearly limit of €30,000 has been gradually rolled out since September 2018.
“The figures show that the ‘loss limit’ and our tougher measures in gambling responsibility mean that we have lost over €4m in revenue annually from our big players. It is a lot of money. But it is unsustainable money that we no longer receive and which the whole gaming industry should say no to,” says Christer Fahlstedt.
At the same time as the figures show reduced revenues from big players, the number of active customers at Paf has grown by 24 percent over the past year.
“Our reduced revenues are entirely driven by a sharp reduction in the big players’ losses, but at the same time we have increased the number of players who play for smaller amounts. It is something we are proud of and it shows that our actions have had a concrete effect,” says Christer Fahlstedt.
“The statistics also show that almost a third of our players ended the year in profit and this is often forgotten. It reveals why so many people like to play for money,” adds Christer Fahlstedt.
Yearly limit stops the big players
Due to the yearly limit Paf can promise that the company will completely stop big players from playing online at Paf by 2020.
“We can guarantee that Paf won’t have any ‘high roller’ revenue by 2020 – since the ‘loss limit’ will be fully implemented then. I can also promise that we will continue to report with complete transparency on the revenues from our various customer groups, ”says Christer Fahlstedt.
No direct marketing to risk players
Paf will further increase the level of responsible gaming in 2019. The company’s gaming radar has been developed to enable faster and better detection of worrying gaming behaviour. This means that in the future Paf will be able to stop all direct marketing to gaming customers as they start to appear in the lower risk zones.
“Previously we did not send direct marketing to players who play for large amounts and who have been flagged for a responsible gaming reason. Now we are expanding our restrictions to more customer segments, which in practice means that we will double the amount of customers who do not receive direct marketing offers from us,” says Paf’s Deputy CEO Daniela Johansson.
Paf is the industry leader in responsible gaming and it has often been a pioneer for new innovations in responsible gaming. Among other things, Paf was the first gaming company in the world to introduce gaming insurance that can be used to treat gambling addiction.
About Paf:
Paf is a Nordic gaming company founded on Åland in 1966 to generate profit for the benefit of society. We were one of the very first gaming companies to go online in 1999. Many of our games are exclusive to Paf and developed by our in-house Games Studio. We are an award-winning industry leader in responsible gaming. Our physical gaming operations include over 30 cruise ships criss-crossing the Baltic and North Seas.
Paf has roughly 400 employees representing over 30 nationalities. Our offices are located on Åland, in Helsinki, Stockholm, Riga, Tallinn, Oslo, Norrköping and Madrid. Paf (Ålands Penningautomatförening) is licensed and controlled by the Government of Åland.
In 2017, the Paf Group had a total revenue of 116.5 million euros and a profit of 29.4 million euros. More information at aboutpaf.com
Latest News
BOS agrees with KV’s/KO’s advertising assessment of “Trisskrapet” in TV4
The Swedish Trade Association for Online Gambling (BOS) agrees with the Swedish Consumer Agency’s (KV) and the Consumer Ombudsman’s (KO) assessment that the daily scratch card commercial “Trisskrapet” in TV4 is an advertising feature, and thus not an editorial feature. BOS welcomes that KO is now ending that part of the process.
If Svenska Spel does not stop the advertising elements, BOS looks forward to KV following up on its earlier call to Svenska Spel to comply with the provisions on advertising identification and broadcaster declaration in section 9 of the Marketing Act and the information obligation in ch. 15. Section 3 of the Gambling Act with information on the 18-year-old age limit and where to turn in case of gambling problems.
– The Swedish gambling market must be characterized by a high level of consumer protection. A cornerstone of good consumer protection is that people are clear about what constitutes gambling advertising, i.e. that they are not tricked into thinking that an advertising feature would instead be an editorial feature. The daily “Trisskrapet” on TV4 has been anything but clear on that point, and we welcome that KO now finally establishes that the features constitute advertising and nothing else, says Gustaf Hoffstedt.
– Now it remains for Svenska Spel to introduce the mandatory consumer protection labelling of Trisskrapet. Since the company has not shown any excessive eagerness to introduce this voluntarily, KO should ensure that this happens as soon as possible. Every day and every “Trisskrapet” that does not contain the mandatory consumer protection label is another lost day for a safe and secure gambling market, Gustaf Hoffstedt concludes.
Balkans
Expanse Studios Launches in Bulgaria with Inbet
Expanse Studios, a leader in online gaming innovation, has secured a Bulgarian iGaming license and is now live on Inbet’s website. This expansion brings Expanse Studios’ popular game offerings including turn-based strategies gamified for iGaming, classic slots, traditional card games and the highly-acclaimed ones like Titan Roulette, Clown Fever Deluxe, Wild Icy Fruits, White Wild Whale and Joker Poker to Bulgarian players.
Diverse Gaming Portfolio Now Available to Bulgarian Players
With the Bulgarian market entry, Expanse Studios introduces a versatile gaming experience to Inbet’s platform. The offerings include a dynamic range of games tailored to diverse player preferences:
- Turn-based strategy games: Leveraging gamification, these games transform traditional strategy gameplay into engaging iGaming experiences, suitable for both novice and experienced players.
- Classic slots: Players will enjoy a variety of themed slots that combine traditional gameplay with modern graphics and sound.
- Traditional card games: A selection of popular card games offer something for every card game enthusiast.
- Titan Roulette: This standout feature, known for its immersive experience and innovative design, continues to be a favorite among roulette players.
Commitment to Quality and Compliance
Expanse Studios not only cultivates a diverse gaming library but also adheres to stringent regulatory standards to ensure a secure and fair gaming environment. The acquisition of the Bulgarian iGaming license is a testament to Expanse Studios’ commitment to compliance and excellence in the gaming industry.
The partnership between Expanse Studios and Inbet marks a significant milestone in Expanse Studios’ expansion efforts. By combining Expanse Studios’ innovative gaming solutions with Inbet’s established market presence, both entities are set to offer a superior gaming experience to players in Bulgaria and potentially beyond. As Expanse Studios continues to develop and release new games monthly, Bulgarian players can look forward to a continually evolving and enriching gaming landscape.
Conferences in Europe
CasinoBeats Summit 2024: Providing the Tools to Balance Innovation and Regulation in the Digital Age
As the industry seeks optimal methods to responsibly integrate innovative technology, the upcoming CasinoBeats Summit will provide delegates with an exploration of the latest emerging technologies, regulatory frameworks and future trends to ensure a safe yet immersive gaming experience for players.
The Industry and Leadership track will take place across both core days of the CasinoBeats Summit, May 22 to 23 at the InterContinental Malta. Panel sessions will delve into key topics such as global gaming regulations, the evolving digital payment landscape and an in-depth exploration of the world of M&A.
The panel entitled Responsible Gambling in the Digital Age will delve into the latest responsible gambling initiatives influencing the digital landscape. Expert speakers Pedro Romero (RG Consultant and psychologist, University of Gibraltar), Matthew Curtis (Head of Responsible Gaming, L&L), Georgia Wise (Head of Responsible Gaming, PlayNorth), Eduards Jakubovs (Head of Responsible Gaming, Betsson) and panel moderator Maris Catania (Senior SG Consultant, SG: Certified) will analyse the impact of landmark regulatory guidelines such as the 3.4.3 regulation on remote customer interaction and the United Kingdom’s ‘white paper’ as well as discuss the latest distinctions between regulated, grey and black markets.
The Industry Trends and Future Predictions panel will look at the future of the casino sector, examining upcoming industry trends and their potential impact. Industry leaders Itai Zak (Executive Director, Digicode, and former/ex-Chief Executive Officer, SBTech), Matthew D’Emanuele (Chief Executive Officer, Yolo Entertainment), Alexander Martin (Chief Executive Officer, SKS365), Inesa Glazaite (Chief Commercial Officer, iGaming Platform), Dmitry Starostenkov (Chief Executive Officer, EvenBet) alongside panel moderator Martyn Elliott (Project Director, SBC Media) will offer insights into key emerging markets, innovative game formats and strategies to effectively cater to evolving player needs.
Commencing the second day is the panel entitled The Evolving Landscape of Gaming Sector Payments, which will explore the current state of the industry’s payment sector. Expert speakers Sean Spiteri (Head of Payment Solutions, PressEnter), Enrico Giancaterina (Managing Director, Funtech) and Ian Perrygrove (Chief Risk Officer, Kwiff) will discuss the current payment innovations driven by the casino sector, analyse the future of digital payment methods and the potential risks of such rapid innovations.
The Navigating the Future: Global Gaming Regulations panel will explore strategies to effectively address the challenges posed by current and future global regulations. Regulator representatives Aideen Shortt, (Advisor to the Minister, Curacao), Andrew Lyman (Gambling Commissioner and Executive Director, Gibraltar), Andrew Rhodes (Chief Executive, Gambling Commission) and Brandon Debattista (Deputy Chief Regulatory Officer, Malta Gaming Authority) will provide insights into their respective markets whilst assessing the possibility of a unified global regulatory standard and the importance of cross-market collaboration.
Additionally, track attendees will have the opportunity to garner insights into the world of acquisition and investment during an exclusive IMGL-led masterclass, Acquisition Strategy: Gearing up for Investment, which is set to take place on Thursday, May 23, the second core day of the event.
For groups of three or more, you can purchase the Group Pass Ticket and gain access to all three days of the CasinoBeats Summit for the discounted price of €400 per person (a saving of €200 per ticket). Additionally, operators and affiliates can apply for a free pass to the event.
You can keep up-to-date with the latest news, speakers and exhibitor additions and conference content by subscribing to the bi-weekly CasinoBeats Summit LinkedIn newsletter.
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