Deposit threshold can minimize gambling addiction from poor sector?!

[coin-investor]

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

[jackpotmaster]

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.

Good but it won't be enough. It tries to block people from playing but it does not investigate or handle reasons for why they are playing. Some people say it is cultural at times when there is a lot of people in some societies playing, but that is wrong. Something being common does not mean that it is permanent. With the right strategies of discouraging this kind of behavior and encouraging other alternatives, change can happen real fast. The deposit threshold could create more illegal gambling places, where underground you can play with $1.

So instead of addressing the causes of the problem, they are just shifting where people will play. It may have a slight impact on reducing gambling, but it won't help too much.

[rachael9385]

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

In as much as gambling is for everyone including the rich and the poor, we know that not everyone should be gambling. Gambling can easily ruin people that are not financially stable this the reason why measures are being taken for them to be restricted. If the minimum amount is above a hundred dollars to gamble a lot of poor gamblers wouldn't even attempt it because they know why would happen if they lose such an amount consistently

[cabron]

So how old is a person right now that allowed to play in your local casino?

Venmo Teen account I think can already play in a casino. That's got to be 13 and above which if they can send to a casino, they could already enjoy gambling. And if all ewallet users who are just as curious in trying their luck with their $1, the are going to play. It only need one friend who brags about his winning and everybody will also try playing.

[Rruchi man]

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.

It could only work for a while, but then we would have those gamblers who are really addicted, the chronic addicts looking for any means to try and fund their accounts. This may just increase the desire and action for more money from these addicted gamblers, who may even decide to get themselves involved in terrible acts just to raise money for gambling.

[justinlamode]

You are right about this but do you think the casinos will implement this? I'm yet to see a casino that will add limit to deposit because that is bad for the business. Instead of doing that, they will rather put limit on withdrawal to control outflow and never inflow, a practice that is not bad because they want to earn more profits which can only come through more deposits.

[Fiatless]

This law is unfair because many people who are responsible gamblers will be deprived of the privilege of enjoying games. Does it mean that gambling is only for the rich?
It could also give rise to illegal or unregistered gambling platforms. People might prefer to use privacy tools to gamble in unregistered casinos which might be counterproductive.

This law could also force gamblers to borrow money for an initial deposit because they want to gamble.

The law also seeks to increase the age of gamblers to 21, which might be okay since gambling is for mature minds.

[aioc]

There is a public clamor to do that, and it’s on local news almost daily because of some criminal cases attributed to gambling. I have a neighbor whose daily allocation is the equivalent of $2 now; it used to be $1, His reason is that he only has a few bets to get his wins, so he needs to add more to his bankroll, and his daily take is $15 so its a matter of weeks before that $2 becomes $5 and he will have less in his take home.

These are the people that lawmakers want to protect. Still, I disagree that they need to increase the threshold because these gamblers will likely resort to unlicensed or underground casinos that offer a lower deposit threshold.

[Charles-Tim]

You are right about this but do you think the casinos will implement this? I'm yet to see a casino that will add limit to deposit because that is bad for the business. Instead of doing that, they will rather put limit on withdrawal to control outflow and never inflow, a practice that is not bad because they want to earn more profits which can only come through more deposits.

This is regulation. If the regulators in the country imposed it, the gambling sites will not have option than to comply.

But the disadvantage is that they are only restricting many people to gamble and they might start preferring means to avoid the restriction. I mean the people that wants to use low amount of money to gamble.

Another disadvantage is that some people will not have option than to use higher amount of money to gamble.  I can be earning $300 but prefer to use $25 to gamble, but this can let me use $175 to gamble instead.

[₿itcoin]

You know increasing minimum deposit to $175 also   they prevent you using your ewallet for gambling purpose is just save the financially weak people from super easy betting access on online gambling. Even they set legal age for gambling is 21 to prevent insolvent folks relying on gambling as income source. But by doing these, they are hitting the industry hard. I could see, stocks like DigiPlus fall in 10% after the move was announced, as investors feared a sharp drop in user base from lower income gamblers. The Bangko Sentral and Catholic Bishops’ Conference uttered support, they said that to prevent addiction, such a decision should be taken. But my concern is that it will push gamblers to the black market, and they could head up to unregulated platforms.

[acroman08]

Do you believe that the Deposit threshold can minimize gambling addiction in the poor sector?!

For some gamblers, it can be a deterrent, but as you know, gamblers, especially addicted ones, will find a way to gamble even if they are doing it illegally. in short, while it could prevent some, it could also push other to seek illegal gambling sites just so they can gamble.

if the Philippines actually wants to change something, it needs to target the younger generation. They need to push strong gambling awareness education just like how they did when they pushed the strong anti-smoking awareness to the younger generation, which had a positive effect after the long run.

[blomen]

this limitation would be ethically questionable, because then you are taking something away from people. gambling is a desire for some people to go out and have fun, to go sightseeing or on vacation, and everyone should be able to enjoy that. so increasing the minimum deposit for this reason alone would be going against people's equality of rights.

also, if this limit is increased more than it should be, probably most casinos will either downsize or close down. because gambling is usually done by people who can afford to make deposits below this set amount.

[coin-investor]

This law could also force gamblers to borrow money for an initial deposit because they want to gamble.

Here in our country, the poor sectors borrow money from 5/6 or those who lend money at 20% interest, and you need to pay daily within a month.

With the increase in the deposit threshold, the 5/6 lender’s business will thrive; The problem of gambling here in our country can be attributed to influencers who encourage people to gamble with a small amount for the potential of a big profit.

The influencers are making a lot of money from promoting gambling, while the poor sectors are suffering from these false advertisements.

[justinlamode]

You are right about this but do you think the casinos will implement this? I'm yet to see a casino that will add limit to deposit because that is bad for the business. Instead of doing that, they will rather put limit on withdrawal to control outflow and never inflow, a practice that is not bad because they want to earn more profits which can only come through more deposits.

This is regulation. If the regulators in the country imposed it, the gambling sites will not have option than to comply.

Mr Charles you are absolutely correct as it is enforceable by the regulators if they deem it necessary, unfortunately, I have not seen the regulators pay much attention to such things as they believe that they already have fine laws governing gambling. The only country that I know of that actually pay attention to such matters is Australia but they have not been too effective at preventing their citizens from gambling as they please even though this issue of deposit limits have been a subject of discussion in that country.

[adultcrypto]

If you look at the practicality of such responsibility, you will end up becoming confused chasing such complicated matters because it must be treated on a case-by-case basis since different people have different risk appetite and what might mean wastage in gambling might just be peanut to the next person so what will then be the benchmark and on what basis will it be determine? If you say during signing ups, users specify their income range and such range can be used to fix their deposit limits. This is true but does it mean the limit cannot change since someone can get a new job and get his finances improved? There are too many things that makes this practically difficult to implement, hence the burden of gambling addiction is on the gambler.

[Awaklara]

Do you believe that the Deposit threshold can minimize gambling addiction in the poor sector?!

This is interesting, I just heard about the government issuing a law for minimum deposit restrictions. We know the intention is to suppress poor gamblers who are potentially addicted to gambling. Not using the little money they have for their living needs, but instead using it to bet.
Every policy certainly elicits positive and negative responses. But it is quite reasonable to implement, especially if the target is gamblers among students. Although there will still be loopholes, but it will definitely reduce the number of poor gamblers. Regardless of whether it succeeds in reducing the number of gambling addicts or not, the data will answer. Because if those who are already addicted to gambling, the door to the game is closed, then they will look for another door.

[KTChampions]

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

Clownery   As always, officials can't think of anything better than to cause inconvenience to people.
Moreover, it looks like discrimination - it turns out that the poor are not people at all and cannot have fun the way the rich can, and this is not established naturally, but forcibly - by law. The result, as always, will be the opposite - if there is demand, but the law prohibits satisfying it, then a black market will emerge and poor players will spend more time on underground platforms.

[lionheart78]

Do you believe that the Deposit threshold can minimize gambling addiction in the poor sector?!

No.  People who meet the deposit threshold can just look for another casino to play.  Gambling addiction is a matter of self-control.  Even if each casino minimizes the deposit threshold to $10, people who are hooked on gambling will always look for ways to gamble.  It is not the amount of deposit that makes a person addicted to gambling; it is its exposure and lack of self-control or personal vulnerability that trigger gambling addiction.

[Ivystar5]

Do you believe that the Deposit threshold can minimize gambling addiction in the poor sector?!

Yes, it has a very good chance of reducing the activity of gamblers or poor gamblers from being addicted too, it's a good strategy adopted but the fact is it denies the people access to what they desire which is very bad too in a moral sense. But if the government believes that their people are lossing it to gambling then they can reduce or control the situation with this strategy.

No.  People who meet the deposit threshold can just look for another casino to play. 

This is a law that will be enacted which means it's going to be imposed on all casinos licenced to operate in the country so there is no way out for the poor except for those who are smart enough to use VPN or any kind of tools to escape the law which is also another breaking of the law that has a punishment if caught.

Gambling addiction is a matter of self-control.  Even if each casino minimizes the deposit threshold to $10, people who are hooked on gambling will always look for ways to gamble.  It is not the amount of deposit that makes a person addicted to gambling; it is its exposure and lack of self-control or personal vulnerability that trigger gambling addiction.

If the minimum deposit is increased its definitely going to affect a lot of people hence it will have effect on the gambling activities of the people in that country. Even though it's a matter of self control but this is a matter of national control.

[batang_bitcoin]

In short, increasing the minimum deposit could minimize addiction of the gamblers from the poverty line. I think that it will because they'll have to think seriously whether they will have to go through and deposit that minimum amount if that's a week or two or a month of their salary. Someone who's out of their minds might do this because they're severely addicted to gambling but, the majority might think twice before they do the deposit and this will completely push them away from most of the gambling platform. Otherwise, they'll still find a way to gamble even at a lower minimum deposit through other platforms.