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Oducado said the probe should involve insights from industry stakeholders to guide discussions on whether tighter regulation or a total ban is needed. Nearly seven in 10 Filipinos said they spend less than P1,000 on betting online, while around 20% would wager as high as P3,000. “Once we receive the official directive, we will immediately enforce the necessary changes to ensure compliance and safeguard our users,” it added. Have you been Googling “bingo near me” looking for a nearby place to enjoy a fun game night? “With the hanging uncertainty around this issue, we do expect gaming stocks to face volatility in the near term. Given the sector’s sensitivity to regulatory risks, investors must remain cautious on trading the stocks in the gaming sector,” Ms. Alfonso said.
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Online gambling has become such a lucrative industry in the Philippines and is now one of the biggest sources of funds for the government. Therefore, you should stick with platforms that are regularly audited, have proven histories, and meet the highest standards of digital safety. When your money and identity are on the line, there’s no room for compromise. While not the most comprehensive support we’ve seen, BK8’s team was responsive.
Technology has its way of turning things around and many people now opt to download their preferred apps other than to gamble online. Here are some reasons why online casino apps are better secure than their Web-based platforms. One of the most critical yet often overlooked aspects of successful online gambling is effective bankroll management. Set a budget for your gaming activities and stick to it religiously.
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“What’s clear is that our laws are being left behind by the rapid pace of technology. That’s why we’ve filed a bill to limit access to online gambling, particularly in e-wallets and super apps,” Hontiveros said. MANILA – Senator Risa Hontiveros on Monday pressed for stricter regulation of online gambling, saying current laws are falling behind the rapid pace of digital technology and enabling widespread addiction through mobile apps. The new regulations will include enhanced identity verification protocols such as biometric checks and facial recognition to ensure that only eligible individuals can use their funds for gambling.
Hontiveros said regulating online gambling should not only be about legal compliance but also about compassion and responsibility. She said her office has received multiple pleas for help from families of individuals addicted to online gambling, many of whom have fallen into debt or taken their own lives. The measure is part of Cayetano’s broader campaign to curb online gambling, which he says fuels addiction, financial distress, and family breakdowns. For DOST and DOST-PCAARRD-funded projects, the OVCRE recommends to the OC the approval of reprogramming/transfer of funds for requests of less than 30% of the approved budget. Last Aug. 16, access to gaming sites and apps through the Games feature on the Maya app will be disabled. A 2021 Capstone-Intel survey found that 66 percent of Filipinos aged 18 to 24 have engaged in online gambling while 57 percent of middle-aged respondents from 41 to 55 years of age have reported participating in online gambling.
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