The Philippine Amusement and Gaming Corporation or PAGCOR reported that gambling revenue in the country decreased. Thus, many industry sources believe that the government has no other choice but to allow Philippine online gambling.
PAGCOR funds several programs that include sports, healthcare, and charity. However, the casino industry suffered losses due to coronavirus restrictions. Also, there was an exodus of Philippine Offshore Gambling Operators. PAGCOR’s revenues dropped by 50 percent overall. It lost 80 percent of POGO revenue.
Although casinos would recover over time, POGOs might not come back even after the pandemic. PAGCOR had to look at the local market to make up for the lost online revenues from POGOs. According to a white label sportsbook provider, an opportunity rises whenever there are challenges.
Philippine Online Gambling Market
According to sportsbook pay per head sources, PAGCOR is considering regulated mobile and online gaming in the Philippines. At present, regional gambling software suppliers are preparing the groundwork with their local counterparts.
Becoming a bookie online in the Philippines might be a reality soon. Also, there are talks that PAGCOR might allow wagering on online cockfights soon. Some sportsbooks are expecting to be given the green light soon.
PAGCOR approved POGO licenses on the condition that they don’t cater to Filipinos. It is a stance that the government has when it comes to online gambling operators. However, lawmakers hinted that there might be changes to the regulations because players are looking for online options during the pandemic. Also, opening the local online market would help PAGCOR with its revenue deficit.
However, some observers said that the Philippine online gambling industry’s opening would have to wait until 2022. That’s the time when current president Rodrigo Duterte leaves the office. Lawmakers believe that the president would not allow online gambling during his time in office. However, the next president might be open to changing things.