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 the first time I see such laws and this is a huge food for thought! Well, it sounds very interesting and practical, because really poor people will not be able to make small bets, because of which they will consider gambling as a way to earn money. Because this is an extremely wrong way to perceive gambling, it is a means of entertainment and stress relief. Therefore, I think that this law is quite sound and will probably be effective.