Due to growing concerns, Philippine legislators are drafting a measure to restrict the use of e-wallets on online gambling platforms. Lawmakers have noted the simplicity of depositing funds and placing bets via digital finance applications.
Philippine Representative Jonathan Keith Flores worries that features such as seamless pop-ups with integrated gambling links are making it excessively convenient for users to continue betting. He stated that these platforms could facilitate addiction, particularly among lower-income groups who might gamble in hopes of alleviating financial hardship.
While acknowledging the convenience of e-wallets for everyday transactions, Flores emphasized that these platforms should not serve as gateways to online casinos and betting services. He suggested that e-wallet firms may be profiting from these integrations and urged them to remove gambling-related links from their applications.
Although no penalties have been proposed yet, Flores stated that further study is required to determine which regulatory agencies should oversee these activities and how best to enforce restrictions. Meanwhile, he called on the Bangko Sentral ng Pilipinas (Central Bank of the Philippines) and the Securities and Exchange Commission to review the role of e-wallet providers in facilitating access to gambling.
Representative Rolando Valeriano has adopted a more stringent position, advocating for the revocation of licenses held by online operators and recommending a return to strictly regulated on-site gambling.
Gambling With Crypto
Philippine online gambling sites have adopted cryptocurrencies to facilitate faster and more efficient deposits and withdrawals. Crypto is stored in e-wallets where users can easily access their digital currency and securely transfer funds.
Today, most online gambling sites accept cryptocurrencies as a means for account holders to avoid currency conversion fees and quickly fund their accounts. Another reason many players prefer wagering with cryptocurrency is that if you deposit with cryptocurrency, you can also withdraw with cryptocurrency. However, once deposited onto the site, the currency is often reflected in USD.
For some players, crypto acceptance is a key factor in determining the site they choose to play, as different platforms accept different digital assets.
Online Gambling In The Philippines
Philippine players have access to licensed gambling sites from both inside and outside the country. Recent efforts have been made to overhaul Philippine gambling laws that shape the industry; however, to date, no changes have been implemented.
In 2024, the country banned the Philippine Offshore Gaming Operators (POGO) program, which was linked to some heinous crimes; however, those sites were only allowed to accept players from outside the country. The Philippine Inland Gaming Operators (PIGO) program has remained intact.
In recent years, the Philippines has seen an expansion of gambling to increase taxable revenue. Several development plans are currently underway for Manila, Clark, Boracay, and Cebu.
- Manila: International Entertainment Corp. is investing $1 billion to develop and refurbish its Manila complex.
- Clark: A new casino resort is planned for Clark, expanding beyond the capital.
- Boracay and Cebu: Billionaire Andrew Tan is investing in integrated casino resorts in Boracay and Cebu, popular tourist spots.