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 HitIt's actually an interesting and clever strategy, sometimes you need to help people in inventive ways that have gotten into some rather self destructive habits. I feel like only a fraction of the population in the Philippines will ever meet that threshold that looks rather low to certain other countries, so it allows casinos to operate internationally without making them a problem for the locals. It's a creative solution but it will probably face a lot of resistance from very rich gambling companies who have a tendency to "donate" to political candidates that will support crushing the bill. There is a lot of money floating around this industry and we see time after time that it is able to influence the highest level of politician in any country.