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The bill would increase the maximum sanction for contravening Section 87(1) to a P100,000 fine, imprisonment for up to five years, or both.
It would also require the Gambling Authority to give a licensee an opportunity to be heard before suspending, revoking or refusing to renew a licence.
Responsible gambling and treatment services were recurring themes in the parliamentary discussion.
About Wonder Tree
The research firm estimates that by 2035, financial derivatives, including event contracts linked to commodities, cryptocurrencies and stocks, will account for 49% of turnover on yes/no exchanges, topping sports to become the largest volume driver. The research firm sees event contracts tied to key performance indicators (KPIs) leading the charge.
“We expect new products such as KPI markets, which allow users to trade a single corporate metric, such as production, deliveries, or subscriber growth, rather than the stock price itself,” observe the analysts. “Further, perp futures are expanding from crypto to commodities and single stock perps.”
Some exchange operators already filed plans to introduce KPI-linked event contracts. Those derivatives would be tied to metrics such as corporate earnings or, in more nuanced cases, Apple iPhone shipments or Tesla deliveries — just two examples — in a given quarter.
About Wonder Tree
Here, advertising for online betting sites is positioned differently. Presented as news, the content talks about the highest odds on the market, features offered by operators, regulatory changes and various cases of bettors, ranging from those who made huge financial gains to those who lost everything.
It is very common among the different profiles identified to refer to regulatory bodies, such as the National Advertising Self-Regulation Council and SIGAP (Brazil’s betting management system). They also speak of responsible gaming in a generic way. In many cases, this is associated with illegal operators and potentially irregular advertising practices.
In this context, the regulations developed to protect players begin to function as a means of legitimisation, with illegal operators even using the term “authorised” in their communication and the “.bet” extension in their domain, which is intended only for licensed operators.
