Nordic gaming operator Paf has lowered its annual loss limit for customers by €5000 ($5847) in a bid to greater strengthen its responsible gaming commitment.

The company first introduced a loss limit of €30,000 per year in 2018, making Paf the first international company to introduce such a limit. Last year, this was lowered to €25,000. After this additional reduction, the limit will now stand at €20,000.

Commenting on the loss limit reduction, Paf CEO Christer Fahlstedt, said: “We are proud to have been able to lower our loss limit by as much as a third in just two years.

“We see that our maximum limit effectively stops big spending players and prevents the personal tragedies that can occur when huge amounts are lost.

“We are now lowering the loss limit further to show that it is possible to survive as a gaming company without income from the biggest big players.”

The operator has estimated that the loss limit reduction will see revenue decrease by €2-3m per year. Last year, the group saw profit of €25.6m.

Paf was co-founded by The Red Cross in 1966. As a result, the charity organisation receives annual funding from the gaming operator. The Red Cross has also supported Paf’s decision to lower the annual loss limit.