PHILIPPINE PRESIDENT Ferdinand R. Marcos, Jr. on Sunday warned that digitalization has made online gambling more accessible and destructive to Filipino families, as calls to regulate or ban electronic betting intensify ahead of his fourth State of the Nation Address (SONA) on July 28.
“Another thing that digitalization has made easier is gambling,” Mr. Marcos said in Filipino through his weekly video blog posted on social media. “Many families are being destroyed because of this, especially when the gambling is not done responsibly.”
The President’s remarks follow efforts by the Bangko Sentral ng Pilipinas (BSP) and Department of Finance (DoF) to tighten regulations on online gaming platforms.
The BSP is drafting a circular that will require banks and e-wallet providers to implement safeguards such as transaction limits related to gaming, to protect consumers from financial losses and addiction linked to e-gambling.
Meanwhile, the DoF is weighing policy proposals including additional taxes on online gaming, mandatory listing of e-gaming firms on the Philippine Stock Exchange and access restrictions to digital betting platforms.
Finance Secretary Ralph G. Recto earlier told BusinessWorld proposals under review include placing time or cash-in limits on players, displaying more prominent warnings about gambling risks and prohibiting government officials from participating in online betting.
Mr. Marcos has expressed openness to supporting both taxation and regulation to address the societal impact of online gambling, though he has not confirmed whether the issue would be included in his upcoming speech before Congress.
He also said more studies are needed before the government could consider a complete ban on online gambling platforms. Malacañang earlier said crackdowns on illegal gaming sites have been intensified to reduce public access.
Mr. Recto hinted that further details of the government’s online gambling policy might be revealed in the President’s SONA.
Lawmakers in both the Senate and House of Representatives have recently filed bills targeting the rise of online gambling. One senator described the issue as a “silent epidemic” affecting young Filipinos.
In the first quarter, gross gaming revenues surged 27.44% to P104.12 billion, according to the Philippine Amusement and Gaming Corp. (PAGCOR).
For the first time, electronic gaming outpaced traditional casinos, contributing P51.39 billion or 49% of total gross revenue during the period. — Chloe Mari A. Hufana