The Philippines is one of the countries in Southeast Asia that have legalized gambling and made a killing from it. This activity that is controlled by a government entity, The Philippine Amusement, and Gaming Corporation, is a major revenue earner for the Filipino government. Nothing is said about the illegality of online gaming here, so the residents are free to gamble as they wish, as long as they are above 21 years old.
The Rising Giant
Asia has always had Macau as its preferred destination for gamblers, but The Philippines is giving it a run for its money. Several high-end casinos have been established, with the main market being tourists. Since the Philippine Offshore Gaming Operators (POGOs) was set up to regulate offshore online sites, the government has worked to ensure players know the cons and
advantages of gambling online casino with real money, so they don’t fall into an addiction trap. As it is now, there are over 35 offshore licensed casinos in the country, and these numbers are expected to rise over time since Filipinos love their gambling.
A little on licensing of offshore online casinos: PAGCOR has made bank from licensing alone since a single license for an online site is $50,000. You pay $40,000 for sports betting, and then a further $200,000 and $150,000 respectively after the approval. These fees alone make the Philippines over a billion pesos. Betway and Winner Casinos are some of the international names here.
Concerns About Online Gambling In The Country
Whenever gambling is brought up in every conversation, the usual concern is about addiction. No lie, gamblers could easily become addicted, especially when they start doing it for the money instead of fun, but not everyone gambling for real money risks being addicted.
Many people find ways to manage their spending so that they remain in control. When you look at the terms of most Filipino casinos, you will notice the measures put in place to prevent players from falling into the addiction trap. You can limit your activity/spending, contact a number on the homepage for help, or suspend your account for a while to ‘cool off.’
How Online Sites Dictate The Future
As long as gamblers know their limits, they can play for real money without the danger of addiction. Here is how the future looks with online gambling.
Thanks to the improved accessibility of gaming through smartphones, iPads, and Tablets, players can play more at home and while on the move. This access brings more income to casinos, which will enrich the government further through taxes. The more people play for real money, the more the gambling sites pay, which the government wants. Since POGOs has strict expectations of gaming sites, players can trust them to safeguard their information and monies. Mobile apps are now the real deal and every casino is scrambling to get one going.
There are already so many online gambling sites, and the number is expected to rise, thanks to the income in this industry. Since the supply is already reasonably high to meet the current demand, players can only benefit from the scramble for members that will come. We already see that in the strategy for bonuses that targets new players. Online game developers also have so much to work with now as they develop new themes for slots and other games.
Increased Revenue And Job Creation
The pandemic has severely affected the offline gaming scene since people don’t get out enough, and tourism took a break, but the online scene took off wildly. Just like the land-based scene, online gambling improves a country’s economy through the jobs created, office spaces occupied, and collected taxes.
When looking at the benefits of gambling versus the downsides it brings, these two win majorly. As long as the licensed sites provide fair and audited games and respect the guidelines laid out by licensing bodies, players will feel safe and continue playing at their own convenience.
While gambling earns huge incomes for casinos and the governments that legalize it, there will always be challenges. Rules are easier to put in place than their actual execution, and The Philippines is no exemption. POGOs is trying its best to work with all stakeholders. Still, it has faced opposition from the government and other quarters, even as it tries to regulate offshore online casinos, mainly due to the fact that most of the traffic comes from China.
What is clear is that online gaming is a favorite of Filipino gamers, and they will always find ways to keep it going. As it stands, the country makes good revenue from licensing and taxes from the offshore sites, and it may be keen on keeping this up as long as the people are protected from exploitation.
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