Online gambling operator Paf made another step to strengthen its responsible gaming measures by introducing a lower gambling loss limit for people aged between 18 and 24.
Players at Paf aged 18-24 now have a mandatory loss limit of €10,000 ($9,800) annually following the new responsible gambling measure introduced by the Finnish online gaming operator which is the only international gaming company that has implemented an annual loss limit for its players, €20,000 ($19,600).
Commenting on the announcement, Paf’s responsible gaming manager Jenna Ekström underscored the importance of strengthening the operator’s responsible gambling measures by taking a stronger grip and minimizing the risks for its young players.
The mandatory loss limit for young people that is already effective at Paf and other Paf-owned gaming sites encompasses losses across all gaming categories, preventing young players from incurring excessive losses annually.
“The facts and research about gambling problems that we have seen point out that young people are a more vulnerable group,” Ekström continued, pointing to their “tendency to take more risks” and their lack of “the same financial possibilities to play monetary games.”
According to scientific studies, people between the ages of 18 and 24 bear a high risk of developing gambling problems and prone to taking risky actions or acting impulsively as at that age the brain is still developing.
Mandatory Loss Limits Signify Commitment
Daniela Johansson, deputy chief executive officer and chief responsibility officer at Paf, justified the company’s approach to responsible gambling by stating the belief that “mandatory loss limits are among the most decisive and responsible actions a gaming company can take.”
“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,” Johansson concluded.
The mandatory loss limit for young people implemented by the Nordic operator can only be adjusted downwards by the player choosing daily, weekly or monthly basis.
The loss limit implementation is the latest display of Paf’s commitment to responsible gambling that is highlighted by the company’s approach to reporting performance across each customer segment where segments are divided into red and green and the business seeks to reduce and stop unsustainable revenue from red segments and increase revenue from green segments.
Paf was one of the few operators that introduced greater flexibility for its employees last year, offering them to continue working remotely, part-time, or from abroad even when restrictions were lifted.