The Philippines is considering new regulations for online gambling to address concerns from President Marcos Jr. and potentially increase government revenue, says Finance Secretary Ralph Recto.
The government is considering additional regulations for online gambling, Finance Secretary Ralph Recto said Tuesday.
“I think there will be additional regulations,” Recto told reporters. “The President is concerned with it. There will be additional regulations and possibly more revenues.”
The discussions come after President Marcos Jr. did not address online gambling in his fourth State of the Nation Address (SONA) Monday.
Recto said all options are being considered, including potentially listing online gambling operators, increasing cash-in and license fees for companies and imposing limits on betting time.
“My advice, do not gamble,” Recto said. “Having said that, if people do gamble, you’d rather regulate it than they go to the illegal.”
He said an estimated 60 percent of online gambling in the Philippines is illegal, while 40 percent is legal.
“If you ban it, 100 percent will become illegal. This is different from POGO [Philippine offshore gaming operators]. That’s where we are. It’s a balancing act that we have to look at.”
