PAGCOR to issue new licences for offshore betting

ippine gaming regulator PAGCOR have announced the introduction of a new category of offshore sports betting licence for “Sports betting on regulated wagering events”.

The new class of licence refers to “an offshore gaming operator that accepts and/or facilitates wagers on regulated gaming events”; this includes horse and dog racing.

It also allows external companies to provide audio and visual feeds of live regulated gaming events, as long as permission has been granted by the event organiser.

Non compliance with this regulation will result in the removal of the licence within seventy-two hours.

Offshore licence applicants must prove that they are adhering to the tax regime of their respective tax jurisdiction in order to qualify for the new licence.

Under the new regulations, holders of this special licence must also pay 1.5% of their gross gaming revenue back to PAGCOR on a monthly basis, along with its regular licence fees.