Do you believe that the Deposit threshold can minimize gambling addiction in the poor sector?!
That’s what our lawmakers believe. Right now, you can deposit as low as 1 dollar in our local casino through our local e-wallet, and because of this, many poor people become addicted to games like Bingo, scatter, and other luck-based games.
So, they are enacting a law that increases the deposit threshold from $1 to $175, making it harder for these individuals to fund their accounts and play.
This law is also the reason why stocks from gambling platforms are taking a big hit and suffering from a plunge, because a big number of their players come from poor and middle-income earners.
The bill proposes raising the minimum age for players to 21, prohibiting the use of popular e-wallets such as GCash and Maya for gambling payments, and enforcing a minimum deposit threshold of PHP10,000 ($175) to reduce participation from financially vulnerable groups.
Regulatory Concerns Shake Philippine Online Gambling Sector; Stocks Take HitThis is a good initiative by the government but since it's only geographically wise it's not profitable to every other gamblers outside that country, it's good to level up the amount of deposit but one thing we should also consider is the fact most casinos has this inbuilt transaction within accounts and that will definitely be immune from the normal deposit because it's in the form of gifting players some cash. However group of gamblers can gang up to make a single deposit and share it amongst themselves, desperation always comes up with new ideas.