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 HitIncreasing the minimum deposit limit will not stop gambling addiction. Maybe for new customers or gamblers who want to try gambling they will not force themselves to gamble. But for old gamblers, they will try to find a way to keep gambling. And now you can see how gambling is developing today even though in your area there are local sites that have such rules, gamblers will switch to crypto gambling or other gambling sites that have lower minimum deposit limits. Maybe it will have a bad impact on the gambling business in your area but gamblers have many ways to be able to bet.