Deposit limits: What they are and how to set yours
One of the keys to practicing responsible gambling is found in deposit limits. Whether we're talking about sports betting, online casinos, or poker, it's crucial to have a budget for playing and not exceed it under any circumstances. Deposit limits are essential tools that betting companies offer Philippines to stick to the established budget and not exceed our spending.
Table of Contents
What are bookmaker deposit limits
Betting house deposit limits are the maximum amount that can be deposited with an operator within a specific period. This can be daily, weekly or monthly, and is regulated by law. Beyond legal limitations, each user can determine their own limitations on a daily, weekly or monthly basis based on their economic capacity, budget for online gaming, etc.
Please note that deposit limits apply to all users. When we refer to bookmakers that limit, we are talking about the earnings a user can obtain. However, these same bookies limit the deposit amount per user based on each situation. To do this, it is essential to look at Law 13/2011 of 27, the regulation that governs gambling in our country.
Deposit limits by law in Philippines
This regulation establishes the deposit limits in betting houses in Philippines. First, you will not be able to deposit more than $150 until you have completed the account verification, either in a single deposit or by adding deposits of different values. After completing the verification process, the following deposit limits established by the regulations in Philippines apply:
- 600$ per day (from 00:00 to 23:59)
- 1500$ per week (from 00:00 on Monday until 23:59 on Sunday)
- 3000$ per month (from 00:00 on day 1 until 23:59 on the last day of the month)
It is worth noting that these limits apply to a single operator. For example, within a 24-hour period, you can deposit $500 at one betting house and $500 at another bookie. However, you cannot make two deposits of $500 at the same betting house. Nor if you make a deposit of $500 in the sports betting lobby and then want to make another of the same value in the casino lobby.
How to change deposit limits at bookmakers
The regulations also indicate that the different operators present in Philippines are obliged to offer the possibility of voluntarily setting limits for different amounts than those established as a general rule. For this purpose, each user will have to submit their request individually and expressly. After this, the operators must fulfill this request "immediately." With this, the regulation aims to promote responsible gaming among users.
Put this way, it sound quite complex, but nothing could be further from the truth. You just have to go to the “Deposit limits” section or equivalent of your operator - it have a different name - and set the new deposit limits. The new limitation will be activated automatically, and every time you make a deposit, it will be evaluated to ensure it conforms to these limits.
The process to increase the deposit limit will be a little different. First, you must understand that, in principle, limits cannot be set that exceed what is legally established. However, the regulations themselves establish an exception for certain players, such as those who play significant amounts. To do this, you must meet a series of requirements that the operator must verify:
- On the first request for limit increase, the user must pass the addictive behavior prevention tests of the game and the DGOJ responsible gaming test. If they pass, the new limit will come into effect after seven days
- For the second or subsequent request for limit increase by the same user, the operator must perform a historical analysis of the user's trajectory based on the criteria established by the DGOJ (method of participation in games, behavior, etc.). If the request is accepted, the new limits will come into force after three days.
- After requesting a change in deposit limits, 90 days must pass before a new request for limit increase can be made
Even if you request a conditional limit increase, it is possible that the operator deny it for various reasons. For example, because you have not verified your account or because the three-month period since the last increase has not yet been met. Also because you have self-imposed a limit lower than that established by law, or even by internal operator resolution. This can justify their refPhilippinesl to extend the limit beyond that established by law by alleging that the requirements established in the first two points are not met.
Tips for setting deposit limits at bookmakers
Now that you know how to set deposit limits in online gambling, let's take a look at some tips for doing so. As advocates for safe and responsible gambling at casinotips.ph, we encourage you to establish your own deposit limits. Here are some suggestions:
- Establish a monthly limit. If we start from the monthly budget, it will be easier to set the weekly and daily limit. We recommend starting by modifying the monthly limit and then establishing the weekly and daily limits based on that.
- Playing for fun. Let's be realistic, becoming a professional gambler is entirely unrealistic. Playing for fun will help you establish realistic deposit limits.
- Limits you can assume. Keep in mind that any bet involves a risk of losses. That is why your gaming budget should be a figure that fits your financial capacity and that, in case of a bad month, will not be a problem in your daily economy.
- To rectify is wise. You know that at any time, the deposit limits of your account be modified. You can always decrease it if you think you are playing too much, or increase it if you consider it appropriate.
Don't forget that deposit limits are always a good measure when it comes to managing our leisure budget responsibly. If you think you have addiction problems with gambling, a tool like this can help Philippines avoid further damage. In that case, it is important to seek professional help and use tools like self-exclusion.
