State-owned gambling operator Norsk Tipping announced a further reduction of the monthly loss limit. The Norwegian operator slashed the maximum loss limit from NOK7,500 to NOK5,000.
Norsk Tipping announced a further reduction of the maximum monthly loss limit. The state-owned gambling company introduced the loss limit as a temporary measure starting from December 2020 to January 2021.
The initial reduction was by 25% to NOK7,500 from NOK10,000. This limit applied to customers playing on Yezz, Bingoria, eFlax, and KongKasino. It also set the daily loss limit for the high-risk games at NOK2,000, which is a 50% reduction.
The length of the temporary measures was further reviewed to continue for the entire 2021. This new limit means players can only lose half the amount they play with when playing high-risk online games with the operator than the same period last year.
Norsk Tipping further added the NOK5,000 loss limit applies to all customers until the next review. It also stated cutting down the loss limit will reduce players’ overall losses by around NOK150 million and NOK175 million annually.
Bjørn Helge Hoffmann said the operator saw a reduction in the number of high-risk players after adjusting the loss limit last year in December. But the head of responsible gaming at Norsk Tipping said there’s a group of staunch players who still lose a massive amount of money. The official said further cutting the loss limit is a move to see whether they can affect this hard-core group in a positive way.
Mr. Hoffmann also said the adjusted limit will apply to all customers for the remainder of the year. But they spoke of a major review of the existing loss limit imposed by Norsk Tipping currently underway. This review will guide the operator on the permanent regulations affecting the entire industry.
The loss limit was only one of the measures put in place to cut losses experienced by high-risk players. Another measure included the exclusion of the label ‘popular’ from various online casino games. Norsk Tipping also stopped sending marketing texts and emails to customers aged 18 to 25. It also set a mandatory 15-minute rest from a single continuous session of play.
The commitment is also in line with the regulations imposed by the regulator to curb problem gambling in Norway. These funds will go toward boosting research, improving prevention measures, and treating gambling issues in the country. This is through the Action Plan program.
Norsk Tipping’s profits are the source of funding to finance the Action Plan program started in 2005. The latest edition will cover the period between 2019 and 2021. Part of the objectives for the current program is to reduce the number of people suffering from problem gambling.
Another objective is to create awareness around the issue. The plan also seeks to improve its detection systems to identify early signs of problem gambling.