High profile Baltic gambling operator Paf has linked up with four other companies to launch a new campaign to boost responsible gambling causes in the state of Latvia.
There has been increased concern in many European markets about the harm caused by problem gambling, and the wider social impact of the gambling industry, and Paf have been proactive in addressing this issue, billing themselves as a socially responsible operator.
Last month they committed to lowering the maximum annual loss for players from £25,000 to £21,000 to offer more protection against the risk of problem gambling. The initial limit had been introduced in 2018 and was a significant factor in the company’s overall revenue decline that year, and they estimate that the new, lower limit, could lead to a drop of as much as two percent in revenue this year.
Nevertheless, they have joined fellow Latvia operators Betsafe, Optibet, Feniksscasino and 11.lv, in announcing additional social responsibility measures that exceed those required by law. Under the terms of the Latvia Gambling Act, companies are required to offer a self-exclusion facility and to ask players to set a gambling limit, but Paf, which runs the Pafbet platform in Latvia, has committed to introduce additional measures, which it says will be operational by the end of next June.
These include deposit limits, the closure of certain game types and the publicising of information on responsible gambling, and given that the five companies control around 90% of the Latvian online gaming market, this will represent a significant shift in the way that the country’s gambling industry approaches the issue of problem gambling. It will also help to cement Paf’s claims to be at the forefront of the push for a more socially-responsible gambling sector.