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Philippines Online Gambling Experiences Bumper Growth with More to Come
By Shane Addinall Feb 19, 2024 IndustryOnline gambling in the Philippines nearly doubled in the past year, driving record revenues which support important community projects. Its success further cements PAGCOR’s decision to aggressively shut down black market operations.Online gambling in the Philippines continues to prove that an engaged and proactive regulatory infrastructure is vital to producing a gambling industry that can serve operators, local communities, and the government.
They have also doubled down on ensuring that illegal online gambling sites do not gain a foothold in the local marketplace.
Filipino Online Gambling Nearly Doubles
Speaking at the ICE London 2024 Conference, the Philippine Amusement and Gaming Corporation (PAGCOR) Chairman and CEO Alejandro Tengco praised his team's achievements over the past year.
One of the highlights of the year was its financial success. Tengco explained:
Quote“There was a phenomenal rise of over 90% in online gaming activities in 2023 compared to the previous year.”
Adding:
Quote“The E-Games sector’s notable performance positively impacted not only the local gaming industry but also PAGCOR’s revenue generation efforts.”
Diving into the results of PAGCOR's focus on growth and stability, he shared that the online casino games of chance, online bingo, speciality games, and sports betting generated Php58.16 billion for state coffers, an increase of 92.32% over its earnings of Php30.24 billion the previous year.
Building on this successful growth curve, the online gambling regulator has shared a 2024 revenue target of Php61.75 billion.
PAGCOR Cracks Down on Unregulated Sites
A big part of PAGCOR's success is its vigilance in ensuring that unlicensed operators do not gain a foothold in the local market.
Speaking on the surge in licensed online casinos, which has seen the market reach the 1000 licensee milestone, Tengco said:
Quote“Because of the policy changes implemented by the current management, there was a considerable increase in gaming sites. We also approved reductions in (licensing) rates that contributed to the spike in approved sites.”
While some argue that illicit gambling sites offer interested players more options, the regulator holds fast that they present an unnecessary risk and undermine the stability of the regulated market.
PAGCOR Senior Vice President for Security and Monitoring Cluster Raul Villanueva said:
Quote“We advise the public to stop patronizing illegal online gaming sites and instead play on legal platforms to protect themselves. Unfortunately, most of the victims of these illegal sites are Filipino bettors."
Most recently, PAGCOR cracked down on a twelve-man underground casino site operating out of the Philippines. The sting operation, which comprised the National Capital Region Police Office (NCRPO) and the Anti-Cybercrime Group of the Philippine National Police (PNP), resulted in the seizure of eleven computer sets, twenty-one mobile phones, two iPads, six laptops and several flash drives. The devices all contained incriminating information on the operation of its Online Slots, live casino games, eSports, and other illegal gambling activities.
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