Leading Philippines eGames provider DigiPlus Interactive Corp has inked a deal with domestic insurance company Philippine First Insurance Co. Inc to introduce what it describes as the Philippines’ first-ever surety bond program for online gaming players.
Taking effect immediately, the program is, according to DigiPlus, its latest step in boosting player protection – protecting player balances of up to Php1 million (US$17,500) per player without requiring customers to purchase a separate policy.
To be eligible, players must ensure their electronic Know-Your-Customer information is up to date, have made at least one successful deposit and be in good standing within the platform’s guidelines.
The surety bond safeguards player wallets and balances up to Php1 million per player with protection in place immediately for all eligible players across the company’s BingoPlus, ArenaPlus and GameZone platforms, it explained.
“DigiPlus is proud to be the first in the industry to roll out this level of consumer protection,” said DigiPlus Chairman Eusebio H. Tanco. “We are committed to putting our players first. With this surety bond, they can play confidently on BingoPlus, ArenaPlus and GameZone knowing that their funds are safeguarded.”
Implementation of the surety bond follows recent moves by some anti-gambling factions within the senate to impose far tighter restrictions on the rapidly growing licensed Philippines’ eGames industry – or potentially ban it altogether.
Gaming regulator PAGCOR has already moved to restrict advertising of online gambling products at certain times and locations, while the central bank ordered e-wallet providers to remove all direct links to online gaming platforms.
The wisdom of that move has been questioned by some in the industry who believe it will only encourage more operators to move back to the illegal market by removing incentives to be licensed.
DigiPlus said it is looking to continue raising industry standards – delivering “not only engaging and innovative gaming offerings but also a stronger guarantee of trust, security and peace of mind for its customers.”
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