The Philippine online gambling industry is facing an unprecedented impact. Alejandro Tengco, the chairman and CEO of the Philippine Amusement and Gaming Corporation (PAGCOR), revealed in the latest budget review that the national online gambling transaction volume has plummeted by 50% since the central bank ordered the decoupling of e-wallets from online gambling platforms, almost halving the industry as a whole.
Tengco pointed out that currently, only about 40% of the online gambling companies operating in the Philippines hold legal licenses, totaling less than 70 companies. The remaining 60% of platforms are essentially in a black market state, operating illegally on a large scale. According to PAGCOR statistics, there are an estimated 12,000 illegal gambling websites nationwide, of which 8,000 have been forcibly shut down, but thousands of platforms are still operating covertly, with risks not completely eliminated.
Industry insiders warn that this round of rectification not only severely damages the underground gambling industry chain but also reshapes the online gambling landscape in the Philippines. If regulation tightens further in the future, illegal platforms may completely lose their living space, and the gambling-dependent black and gray industry chains will also collapse.
This action demonstrates the authorities' "zero tolerance" attitude, not only cracking down on illegal gambling but also aiming to prevent money laundering, fraud, and social security risks. As the intensity of the crackdown increases, the Philippine online gambling industry is facing the most severe reshuffle ever, entering an unprecedented "elimination round".
