Philippine lawmakers seek to curb e-wallet links to gambling apps
Concerns raised over growing accessibility of online betting platforms via digital payment systems.
Key points:
– Proposed bill aims to restrict e-wallet integration with gambling apps
– Lawmakers express concern over increased addiction and financial harm
– Regulators urged to monitor fintech firms enabling gambling access
Philippine legislators are drafting a measure to limit the use of e-wallets in online gambling platforms, citing rising concerns over the ease with which users can deposit funds and place bets directly from digital finance apps.
Representative Jonathan Keith Flores has warned that e-wallet features, such as seamless top-ups and integrated gambling links, are making it dangerously convenient for users to continue betting, often at the expense of their financial stability.
He noted that these platforms are becoming enablers of addiction, particularly among lower-income groups who may gamble in hopes of escaping financial hardship.
While Flores acknowledged the convenience of e-wallets in everyday transactions, he stressed that their platforms should not double as gateways to online casinos and betting services. He believes that e-wallet firms may be profiting from these integrations and urged them to remove gambling-related links from their applications.
Good to know: Some e-wallets in the Philippines now include built-in directories of gambling games, along with loan services that may further encourage risky financial behaviour
Although no penalties have been proposed yet, Flores stated that further study is needed to determine which regulatory agencies should oversee these activities and how best to enforce restrictions. In the meantime, he called on the Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC) to review the role of e-wallet providers in enabling gambling access.
Representative Rolando Valeriano has taken a firmer stance, calling for the revocation of licences held by online operators and urging a return to on-site gambling under strict regulation.
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