Online gambling transactions down 50% since e-wallets ban—PAGCOR  

Philippine Amusement and Gaming Corporation (Pagcor) chairman and CEO Alejandro Tengco told legislators Wednesday that online gambling transactions have dropped by 50 percent since the Bangko Sentral ng Pilipinas (BSP) prohibited e-wallets from linking to online gaming platforms.

“This is to inform the public that based on Pagcor’s observations, from Sunday to today, online gaming transactions went down by estimated 50% due to the central bank order to e-payment platforms to delink from their integration with online gaming companies,” Tengco told the House of Representatives committee on appropriations in a briefing on the operations of the state-run firm in relation to its expected contributions to the proposed P6.7-trillion budget for 2026.

“It is the BSP, which regulates the e-payment platforms, and we have been exchanging information with them. I would like to give credit to the BSP because they are also coming with stricter guidelines to control the e-payment platforms,” he added.

Last Thursday, the BSP ordered electronic wallets, including GCash and Maya, to sever links to online gambling platforms within 48 hours.

The order, said BSP Deputy Governor Memento Tangonan, is in line with the BSP’s commitment  “to protecting consumers and ensuring financial systems are not exploited for unregulated gambling activities.” GCash and Maya later complied with the BSP order.

Tengco, meanwhile, acknowledged efforts of PAGCOR to address gambling addiction even as he stated that only 40 percent of online gambling providers are legally licensed and, thus, regulated by his office.

“Our regulation is not perfect, but I am assuring the members of this committee and of the House that we are trying our best to make certain adjustments to cope with the exponential growth of online gaming, not only here in the Philippines,” Tengco said.

“Sadly, less than 40% of online gambling are legally operating … the remaining 60% are illegal who are operating offshore,” he noted.

Tengco said the illegal online gaming operators are based in Russia, Dubai, Cambodia and Singapore, to name a few. 

On the other hand, the Pagcor chief said at least 70 online gaming providers have licenses to operate issued by the state-run gambling firm.