Nordic operator Paf further reduces the maximum loss for players between the ages of 20-24 to EUR8,000.
The previous limit on losses for this age group was EUR10,000. This was only applicable to those players between 18 and 19 years old. This new limit allows players aged 20-24 to lose up to EUR8,000 per annum.
All players aged 20 to 24 who are registered with Paf will be affected by this change. The loss limits for other age groups remain unchanged.
Paf will announce a new mandatory limit for losses in April 2023. It is going to be reduced from EUR20,000 down to EUR17.500. In April 2023, Paf also reduced the loss limits for 18-19 year old players from EUR10,000 down to EUR1,800. The changes would cost Paf EUR7.0m per year.
Christer Fahlstedt (pictured left), CEO of Paf, said that reducing the loss limit for those aged 20-24 years old is another step on Paf’s journey towards responsible gaming.
He said: “This is a continuation of our responsible gaming strategy at Paf.” Now young players can play only for amounts at which they are more responsible and in the context of what we call the “green segment” segment.
We need to have the ability to sustain ourselves on a long-term basis. In a highly-regulated European future market, we believe you can’t lose more than EUR8,000 per year. This is equivalent to a costly leisure activity.
PAF prioritizes responsible gambling
Daniela Johansson (pictured right), deputy CEO and Chief Responsibility Officer at Paf, said the new limit demonstrates Paf’s commitment to responsible gaming.
She explained that it was important for her to emphasize the importance of focusing on youth and gambling in a responsible manner. The loss limits, along with other measures to promote responsible gambling, are an important complement.
Paf is a long-time advocate of responsible gambling in Scandinavia. It petitioned Sweden’s government in July 2022 to increase gambling taxes and ban gambling advertising. The petition also asked that Sweden’s self exclusion program Spelpaus centralise the player’s losses limits so they apply to all players.
Paf, based in Finland, operates throughout Finland as well as Sweden and the Baltics. Finland has been undergoing changes to its regulation system after the government declared that they would abolish Finland’s gambling system by 2026.
The Norwegian monopoly is currently under scrutiny as well. Both the Norwegian Industry Association for Online Gaming and International Betting Integrity Association are urging Norway abandon its monopoly. The European Betting and Gaming Association supports this.
The IBIA signed a Memorandum of Understanding with the NBO in January. They will collaborate to ensure betting integrity and regulation.
