Betting group Paf this week announced plans to cap player losses at €30,000 per year in an effort to help curb gambling addiction on their end.
The move could cost Paf up to 5% of its revenue, but the company sees the hard cap as a chance to curb problem gambling. The move is the first for a private company, although monopolistic operations have implemented caps in the past. Paf claims it intervened in risky gambling behaviors 9,400 times in 2016 and 2017, up 500% over previous numbers.
Commenting on the measure Paf CEO Christer Fahlstedt said, "We will continue presenting personal gaming history graphs to our customers and encourage them to use the tools we provide online for voluntarily setting gaming limits that match each customer's individual conditions.
"We suggested a collective hard cap for the entire market in our official comment letter regarding the re-regulation of the Swedish market.
"Although our suggestion for the whole market was not employed as such, we choose to take the next step now and hope that the authorities will follow and introduce an obligatory hard cap.
"We don't want to see people's lives destroyed because of gambling addiction. There has to be a way back. We hope that Paf's new hard cap will take us in the right direction."