PAGCOR Profits from Philippines Gambling Crackdown
The Philippines and President Rodrigo Duterte, in particular, is cracking down on illegal online gambling operations. Under PAGCOR, the Philippines’ gambling regulatory group, the number of illegal gambling sites here has decreased significantly. The Philippines gambling crackdown has been good for PAGCOR, yet not everyone in the country is happy.
The Philippines laws towards gambling are confusing, to say the least. Let’s take a look at why the government here is pushing so hard against international gaming sites, and the impact it’s having on the industry.
Explaining the Philippines Gambling Crackdown in 2019
Online gambling laws in the Philippines are complex. Essentially, all forms of online gambling are banned unless given direct permission from the government. Foreign gambling sites are only able to operate here after obtaining a license from the government. Unfortunately, these licenses are extremely difficult to come by.
In recent years, a huge number of illegal, unlicensed gambling operations have been popping up around the country. These are often run from apartment rooms, yet they can generate some significant revenue. The illegal gaming operations here are taking in revenue that could be going to the Philippines’ legal online gambling options.
The Philippines’ President, Rodrigo Duterte, has told the media he hates gambling. Despite the massive revenue earnings from land-based casinos in the country, Duterte has been very hesitant to expand these operations. There is now a Philippines crackdown on all illegal gambling operations inside the country.
PAGCOR Profiting From Decrease in Illegal Gambling Options
According to recent reports, the Philippines gambling crackdown is paying off. PAGCOR’s revenue stream has increased substantially with the decrease in illegal gambling options. More than 30,000 of these illegal gambling operations were running around the country. Around 200 licensed operations are now available.
Gambling revenue in the Philippines was around $1.07 before PAGCOR began licensing and regulating the offshore gambling market. Today, gambling operations in the country earn around $110 million annually. This money funds many different infrastructure projects in the Philippines.
As we mentioned earlier, it’s still very difficult for foreign gambling sites to obtain a license to legally operate here. Many of the top online gambling sites in Europe will accept Filipino players. Some of these sites hold licenses to do, and some do not.
Future of Online Gambling in the Philippines
The competition for gambling operations in Asia is higher than ever before. Many countries including Japan and Cambodia, are investing heavily into the casino industry in an attempt to generate more money. The Philippines has been extremely successful with its land-based casino operations, and some feel the government here may soon relax their laws against foreign sites.
At least for now, there’s no evidence of that happening. Duterte is doing his best to keep all gambling operations in the country at a minimum. Even some of the heads of PAGCOR are working to convince him that it’s an industry worth opening.
No one knows what the future holds for online gambling in the Philippines. If PAGCOR can make a good case for opening the industry more to foreign companies, revenue would increase even more.
Do you think the Philippines gambling crackdown benefits players? Would you like to see more foreign gambling sites become available here? Let us know what you think in the comment section below!
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