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Tighten up on e-wallets to curb online gambling--Ridon

Philippines | National

Tighten up on e-wallets to curb online gambling--Ridon

By Ellson Quismorio

At A Glance

Bicol Saro Party-list Rep. Terry Ridon has proposed a simple but potentially effective way to keep online gambling in check--ban them from e-wallets.

(Unsplash)

Bicol Saro Party-list Rep. Terry Ridon has proposed a simple but potentially effective way to keep online gambling in check--ban them from e-wallets.

Gambling regulation must begin with access restriction, Ridon said in a statement Thursday, July 3.

Online gambling transactions should be prohibited on e-wallet platforms such as GCash and Maya, as well as through the online applications of banking institutions, reckoned the lawyer-congressman.

This measure aims to prevent the unchecked and convenient access of ordinary Filipinos—especially the youth—to online gambling platforms, Ridon noted.

According to him, government has a duty to make it more difficult for individuals to use their hard-earned income on activities that often result in financial distress and family disintegration.

To this end, online gambling operators should be required to establish their own independent payment systems with stricter know-your-customer (KYC) protocols and significantly higher minimum cash-in thresholds, in line with Senator Sherwin Gatchalian’s proposed ₱10,000 initial deposit requirement, he said.

Ridon said Filipino families' incomes should be safeguarded for life’s essentials: food, shelter, education, healthcare, and daily needs.

He said this money must not siphoned into online gambling platforms that offer no productive return.

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