Exclusive: Paf implements lower mandatory loss limit for young people
Åland Islands-based operator reaffirms its commitment to responsible gambling with the new annual loss limit for 18-24-year-olds set at €10,000
Paf has introduced further responsible gambling (RG) measures by implementing an annual loss limit for those aged 18 to 24 of €10,000 (£8,753.98), EGR can exclusively reveal.
The latest loss limit will be implemented in addition to the mandatory annual loss limit for players of €20,000. The operator said this reduction is to reaffirm the responsible gambling measures for all young people who play at Paf.
No one can increase the limit of €10,000 but it can be lowered on a daily, weekly or monthly basis by the player. The limit has already been implemented and is now valid for all young people on Paf’s gaming sites and on all other gaming sites owned by the operator.
The firm has implemented this limit mainly because it believes that young people are at a high risk of developing gambling problems.
Paf has referenced research gathered by the Responsible Gambling Council in Ontario that states players aged between 18 and 20 are significantly more likely to chase their losses and bet more than they could afford in the past.
The research also states that online gambling is one of the strongest predictors of gambling problems in young adults.
Daniela Johansson, deputy CEO and chief responsibility officer at Paf, said: “We are convinced that mandatory loss limits are among the most decisive and responsible actions a gaming company can take.”
Jenna Ekström, responsible gaming manager at Paf, added: “We need to take a stronger grip and minimise the risks for our young customers. Therefore, this is a good measure that strengthens our take on responsible gaming.”
This is the fourth time that the operator has implemented a change in the mandatory loss limit for its customers. Paf originally brought in a mandatory loss limit of €30,000 in 2018, before dropping it to €25,000 and finally reducing it again in September 2020 to €20,000.
When publishing its financial results for each reporting period, the firm releases the figures from each customer segment to show how much revenue it receives from vulnerable customers.
Johansson also called on the industry to make the mandatory loss limit part of industry best practice. She remarked: “A customer with gambling problems most likely does not have the same ability to control his gambling and set his own limits, which is why we need mandatory loss limits in the gambling industry.”