Online gambling may be down 50% in the Philippines
Philippines online gambling transactions fell by up to 50% according to PAGCOR after e-wallet suppliers told to stop linking to gambling sites.
Key points:
– The Chairman of PAGCOR says online gambling transactions may have fallen by 50%
– He also calls for further regulation of online gambling while falling short of backing a full ban
– Blames foreign sites for an illegal gambling arena that he suggests makes up more than 60% of the market
Online gaming transactions have gone down as much as 50% according to Alejandro Tengco, the Chairman of the Philippine Amusement and Gaming Corporation (PAGCOR).
This follows an order from the country’s central bank, Bangko Sentral ng Pilipinas (BSP), instructing e-wallet providers to stop linking their apps directly to gambling sites.
That imperative came during a senate committee on 14 August, at which time the e-wallet companies were given 48 hours to action the unlinking. The 48-hour limit proved controversial, with Sen. Alan Peter Cayetano asking why the need for a two day window when the process of unlinking could be immediate.
Nonetheless, the move has seemingly proved astonishingly effective and the PAGCOR head said in a budget briefing: “From Sunday to yesterday, online gaming transactions fell by perhaps 50%.”
Good to know: After surprising onlookers at his state of the nation speech with his silence on the question of an outright online gambling ban, President Marcos Jr has since been equivocal on the issue, buying time to consider all options before the finalisation of the 2026 budget
Tengco is reported as having pushed back on bills to ban online gambling entirely in the country – PAGCOR’s stance is that illegal operators will fill the gap left by the legal market and simply deny the Government the opportunity to raise funds from it.
He claims that illegal sites make up more than 60% of the market currently and sought to assure the House that the regulator was attempting to build further legislation to keep the growth of online gambling on a short leash.
Foreign sites targeting Filipino players were identified as the root of the malpractice taking place in the online gambling space, and Tengco detailed how PAGCOR are working with the Department of Information and Communications Technology (DICT) and the Philippine National Police’s (PNP) cybercrime department to tackle this issue.
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