Philippine Central Bank and legislators pursue measures to limit gambling platform accessibility
In an effort to curb the proliferation of online gambling and protect vulnerable users, the Bangko Sentral ng Pilipinas (BSP) and lawmakers are proposing new regulations to restrict access to online gaming platforms through digital payment systems.
The key measures include the prohibition or stricter limits on the use of e-wallets and banks for online gambling transactions. The BSP is drafting a circular that would require banks and e-wallet providers to impose limits and safeguards to protect young people and financially unstable individuals.
Lawmakers, such as Senator Sherwin Gatchalian and House Representatives, have filed bills proposing bans on the use of e-wallets for online gambling. For instance, House Bill 721 aims to outlaw the promotion of online gambling linked to e-wallets, while another bill by Senator Gatchalian seeks to prohibit e-wallet transactions for online gambling.
These proposed regulations build on previous actions, such as the 2021 directive that prohibits regulated entities from operating with unlicensed gaming platforms. The BSP had previously prohibited banks and e-wallets from dealing with unlicensed gambling operators and ordered the removal of electronic sabong links on digital platforms.
The Philippine Amusement and Gaming Corporation (PAGCOR), the state gaming regulator, has expressed openness to these proposed stricter regulations and commits to aligning with any laws passed by Congress to better regulate online gaming and protect the public.
The new regulations will require BSP-supervised institutions, such as banks and electronic money issuers, to adopt measures to block or limit transactions related to gambling. Digital wallet providers will have to submit annual compliance reports detailing internal mechanisms to block gambling-related content.
The draft circular aims to strengthen the protection of users of digital platforms from gambling-related risks and to protect the well-being of the population as gambling-related advertising becomes more prevalent in physical and online spaces. The goal of the proposed bill is to discourage casual participation and contain impulsive betting, especially among the young.
The BSP and the Department of Information and Communications Technology (DICT) will share oversight responsibilities. Several lawmakers have expressed support for the BSP's stance and are calling for the government to adopt stricter rules to make online gambling access more difficult.
The growing political movement in the Philippines seeks to contain what legislators classify as the "normalization" of digital gaming. The BSP acknowledges the growing concern about the use of financial tools that facilitate access to gambling, especially among the youth.
The draft circular has been made available for analysis and comments, and the central bank is currently evaluating the feedback received. The legislators are preparing a separate bill to include stricter regulations, with emphasis on age restrictions, removal of gambling access in digital wallets, and higher minimum deposit requirements.
The BSP is drafting a circular that will require banks and e-wallet providers to impose limits and safeguards, aiming to restrict the use of digital payment systems for online sports betting to protect young people and financially unstable individuals. Lawmakers, including Senator Sherwin Gatchalian and House Representatives, have proposed bans on using e-wallets for online sports betting, as illustrated in House Bill 721, which aims to outlaw the promotion of online sports betting linked to e-wallets.
