The Department of Finance (DOF) is proposing the use of graphic warning labels to help address the worsening effects of excessive online gambling.
DOF Director Ma. Karla Espinosa made the recommendation during the House Committee on Games and Amusements hearing on proposed measures seeking to either ban or strictly regulate online gambling.
“Based on our preliminary analysis, we recognized the potential economic benefits [of online gambling], provided that the associated economic and social costs are mitigated through very stringent regulations,” Espinosa said.
She emphasized the need for strong safeguards to protect vulnerable groups, saying, “We emphasize the necessity of implementing robust safeguards, including but not limited to the following: the displaying of graphic warning signs of the addictive nature and adverse impacts of gambling, implementing strict measures to prevent minors’ access to e-games, as well as implementing paying time or betting cashing-in frequency limits to possibly prevent addiction.”
Espinosa also called for adopting measures similar to those in traditional casinos, such as the “bankers’ player exclusion policy,” which restricts self-excluded or high-risk players from participating.
“We’re also for adopting and disseminating bankers’ player exclusion policy currently already being implemented in traditional casinos, prohibiting government officials from participating in e-games, and establishing a dedicated fund to support programs for rehabilitation, among others,” she added.
According to Espinosa, the most recent cost-benefit analysis (CBA) on online gambling was conducted by the DOF in August.