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 Hit$175 is a very large amount, this limit can keep a poor gambler away from gambling. Although this limitation is quite expensive for a rich person. However, it can keep gamblers away from gambling to some extent, but if you make such a limitation law only on one platform or one casino house, it will not work very well because even though the number of casino sites offline is less, there are a lot of casino sites online where you can gamble with even a small amount of money and they will never leave gamblers behind. If someone likes gambling, he will try to gamble there. So only this casino can avoid their responsibility by making a law, but in reality it cannot keep poor gamblers away from gambling completely.