Detailing an ‘industry first’, Åland Island (Finland) based betting group Paf has moved to openly publish a detailed breakdown of its customers’ annual wins and losses as part of its corporate social responsibility mandate.
Updating the market, Chief Executive Christer Fahlstedt detailed that the initiative would bring stakeholder transparency to Paf’s player wagering limits and further sustainability directives.
“We are probably the first gaming company in the world to show openly and transparently what our customer database looks like,” he said. “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.”
In 2018, Paf governance announced that it would introduce ‘permanent year limits’ set across its customer base and games portfolio, with the company announcing that it would enforce a ‘maximum €30,000 player loss limit’.
Leading Paf, Fahlstedt states that they have refocused the business on servicing recreational players, noting that earnings generated from top wagering accounts have decreased.
In its breakdown, Paf figures detail reduced revenues from ‘big player’ segments, with the operator able to increase its number of active customers by 24% during the course of 2018.
“The figures show that the ‘loss limit’ and our tougher measures in gambling responsibility mean that we have lost over €4 million in revenue annually from our big players,” Fahlstedt added. “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.”
As a corporate directive, the Paf executive team has stated that it anticipates completely withdrawing its big player wagering services by 2020.
Fahlstedt said: “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.”
Aiding the firm’s sustainability principals, Fahlstedt outlines that the betting group is developing further resources which will enable Paf verticals to detect and better monitor gambling harm behaviours.
Paf Deputy CEO Daniela Johansson commented: “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.”