Paf Casino adopts the payment method Swish
If you are an online gambling player and live in Sweden, we have good news. Popular online casino Paf adopts the Swish payment method which is very popular and is used by more than 6.7 million Swedes. Paf Casino, the newly regulated Swedish gaming market, has adopted the fastest payment method available in Sweden.
The Swish payment method uses mobile phone numbers to make transfers and is currently used by more than 180,000 companies and residents in Sweden.
Swish is undoubtedly the preferred way for Swedes to transfer money and Swedish online players at Paf Casino can now use this method which until recently they could not get anywhere else.
It should be noted that Paf Casino has been operating online in Sweden for 18 years and was granted the maximum possible 5 year license for the Swedish gaming market as of January 1, 2019.
About Paf Casino
Paf was founded in Åland in 1966 to generate profits for the benefit of society. It is one of the first online casinos that started operating in the Nordic gambling market in 1999. Many of the games on Paf.com are exclusive and developed by our own gaming studio. It is also a leader in the responsible gaming industry. Paf also maintains a large physical presence both on land and at sea, with about 1,500 slot machines and 60 gaming tables distributed among the 30 cruise ships sailing the Baltic Sea and the North Sea and the Paf Casino in Åland.
Currently the Paf company has approximately 400 employees representing more than 30 nationalities. The offices are located in Åland, Helsinki, Stockholm, Riga, Tallinn, Oslo, Norrköping and Madrid. Paf (Ålands Penningautomatförening) is authorised and controlled by the Åland Government.
An interesting fact. Several weeks ago, the Swedish gaming operator Paf Casino published the annual profits and losses of its players over the past two years, part of the company’s quest to reduce its dependence on revenue generated by top-level players.
Paf’s figures show that the company generated a “total gross gambling surplus” (loss of own money for customers) of 98.1 million euros in 2018, an increase of only 262 thousand euros over the result of 2017. But the average loss per customer fell almost a fifth to €522 last year, partly because the percentage of Paf players who finished 2018 in black rose 7.3 points, to 31.6%.
Last September, Paf began implementing fixed annual loss limits for its online customers, imposing a maximum limit of €30,000 that CEO Christer Fahlstedt said at the time would reduce the company’s annual revenues by about 5%.
This week’s statistics show that Paf Casino’s revenues from big-time gamblers fell from 4 million euros to 9.65 million euros. However, this deficit was offset by a 24% increase in active customers. Revenues from players who wagered less than €8k last year increased more than €4.2m to €71.4m. CEO Christer Fahlstedt said:
“The reduction in high roller revenues is a lot of money. But it is unsustainable money that we no longer receive and that the entire gaming industry should say no to. The industry needed a real debate about the fact that most online operators depend on a small portion of customers that have a huge impact on [companies’] operating results.
Paf Casino’s loss limits will be fully implemented by 2020. Paf Casino also plans to implement a system that restricts its ability to market its products to customers whose online activity approaches the “lower-risk areas” of problem gaming behavior. In practice, Paf Casino says this will double the number of players who will not receive any direct marketing.