Philippine Finance Minister Ralph Recto recently publicly stated his opposition to a total ban on online gambling, emphasizing that strict regulation can balance economic benefits and social risk control. The country's gambling regulatory authorities and industry experts all support replacing the "one-size-fits-all" ban with prudent policies.
Finance Minister Opposes Total Gambling Ban Based on Cost-Benefit Analysis
Recto pointed out that the Ministry of Finance's stance is based on cost-benefit assessment. If negative social impacts can be effectively controlled through regulations, online gambling has a net positive contribution to the economy. He advocates for a comprehensive regulatory strategy that both mitigates risks and ensures that legal operators comply with tax regulations, avoiding excessive market intervention.
Gambling Institutions Emphasize Industry Tax Contributions and Regulatory Stance
The Philippine Amusement and Gaming Corporation (PAGCOR) also opposes a total ban, revealing that tax revenue from electronic gambling in the first seven months of the year has reached 37 billion pesos. Analysis shows that policy ambiguity could lead to economic uncertainty, loopholes in protecting minors, and a crisis of public trust.
Experts Call for Focus on Illegal Operations and Protection of Minors
Chikianco, chairman of the Economic Freedom Foundation, believes that regulation can prevent the industry from going underground, leading to tax revenue loss and increased risks. Gustilo, initiator of the Digital Philippines Movement, suggests that the government should focus on cracking down on illegal platforms, preventing minors from participating, and harmful gambling designs, rather than a total ban.
