🙈Philippines🇵🇭: Central Bank prepares new rules for online gambling

🙈Philippines🇵🇭: Central Bank prepares new rules for online gambling

The regulatory push continues. This time, it targets e-wallets, banks, and other financial service providers, who must remove within 48 hours any links or icons in their apps that redirect users to online gambling platforms.

▶️Context: These restrictions mainly aim at POGO (Philippine Offshore Gaming Operators) — companies licensed by the Philippine government to operate slot machines and betting platforms abroad, particularly in mainland China🇨🇳, where gambling is banned. POGOs flourished between 2016 and 2022 during former president Rodrigo Duterte’s administration. Although designed for foreign markets, Filipino players also use them.

▶️The current president disapproves of this scheme. Therefore, measures are being introduced, such as daily limits on gambling-related transfers and time restrictions, monitored through biometric systems.

▶️…but here’s the nuance: POGOs used to contribute around USD 500 million annually to the government, providing jobs and indirect revenue. For this reason, they are unlikely to be completely shut down — instead, they will face stricter controls.

#news #Asia #gambling

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