Manila, Philippines – A crackdown on online gaming payments in the Philippines, intended to curb illegal gambling, has inadvertently pushed players towards unregulated and frequently enough offshore sites, according to Philippine Amusement and Gaming Corporation (PAGCOR) Chairman Alejandro Tengco. The move, stemming from a directive by the philippine Central Bank (BSP), has seen a 50% decrease in online gaming transactions.
Payment Restrictions Drive Players to Illegal Sites
Tengco recently informed lawmakers that online game transactions in the Philippines have decreased by approximately 50%, a direct result of banks and e-wallets severing ties with gambling-related activities, as mandated by the BSP. however,Tengco acknowledged the unintended consequence: a surge in users seeking out unprotected platforms. Approximately 60% of operators now targeting Filipino players are operating illegally, with many based in Russia, Dubai, Abu Dhabi, and Cambodia.
PAGCOR is currently tracking around 12,000 illegal gambling websites, a stark contrast to the 77 licensed platforms operating within the country. Tengco warned that these illegal operators entice users with larger bonuses and aggressive promotional offers not permitted under PAGCOR’s regulations. These unregulated sites pose significant risks to players, lacking the safeguards and responsible gaming measures of licensed operators.
To bolster responsible gaming practices on licensed platforms, PAGCOR is considering implementing new safety measures, including minimum deposit and betting requirements. However, Tengco stressed that PAGCOR cannot address the issue alone. “Without strong enforcement measures,illegal operators will continue to thrive despite the restrictions on the legal platform.” he stated.
