Online gambling transactions have dropped by 50 percent since the Bangko Sentral ng Pilipinas (BSP) prohibited e-wallets from linking to online gaming platforms, the state-run gaming company reported yesterday
“This is to inform the public that based on Pagcor’s observations, from Sunday to today, online gambling transactions went down by 50% due to the BSP order banning e-wallets from integrating with online gaming companies,” PAGCOR chair Al Tengco told the House of Representatives Committee on Appropriations in a briefing on the operations of the state-run firm.
“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,” Tengco added.
Tengco’s report appears to be validated by the results of a new study which has found that the recent unlinking of e-wallet platforms from regulated online gambling apps has driven more players toward unregulated sites.
The research firm The Fourth Wall said the study highlighted stark differences between regulated and unregulated gambling platforms, including unverified games, lack of Know Your Customer (KYC) procedures, aggressive affiliate marketing, and inconsistent customer service.
Surveying over 1,000 online gambling players across Mega Manila, Metro Cebu, Metro Davao, and other growth centers, the study revealed that after the August 16, 2025, ban, regulated platforms lost 70 percent of their players, while unregulated sites saw a 40 percent surge in clientele.
Trends suggest continued growth for unregulated platforms as players migrate from regulated channels, the research showed.
The findings followed Senate hearings on Aug. 14, tackling the social cost of online gambling.
In response, the Bangko Sentral ng Pilipinas (BSP) ordered e-wallets to cut links with gambling apps, with major players GCash and Maya confirming compliance.
The study also found that e-wallet trust strongly predicts migration, with 42 percent of high-trust players being 2.3 times more likely to shift to unregulated sites compared to only 18 percent of low-trust players, as the continued availability of e-wallets on these sites signals safety.
Players who value e-wallets’ age verification features, around 40 percent, are 2.4 times more likely to move to unregulated platforms, mistakenly assuming similar safeguards exist.
On the other hand, 40 percent of players who view e-wallets as essential to gambling are twice as likely to switch when regulated platforms lose access to e-wallets.
“Our study shows how central e-wallets are to gambling behavior. When links to regulated platforms were cut, players did not stop gambling—they shifted to unregulated sites. Payment channels themselves shape perceptions of safety and legitimacy, which must be addressed alongside regulation,” said The Fourth Wall research director John Brylle Bae.
The study builds on earlier research by The Fourth Wall, which found that players widely associate e-wallets with safety and responsible play.
Of the 73 percent of trust e-wallet users’ age and ID checks, 64 percent believe the platforms help them control their spending, and 92 percent prefer GCash, compared with 6 percent for Maya and just 2 percent for over-the-counter outlets.
The discrepancies allegedly expose players to scams, fraud, excessive losses, and privacy risks.
Meanwhile, GCash warned the public against the illegal use of its platform by illicit gambling operators and other dubious entities.
GCash also reaffirmed its zero-tolerance policy against any form of unlawful activity and reminded customers that GCash has no links to illegal gambling operators. Any site or group claiming otherwise is either misrepresenting GCash or illegally using the platform.
“Illegal online gambling undermines financial integrity and public welfare. GCash has no links to illegal gambling operators, anyone connecting our brand to these sites is either misrepresenting us or illegally using our platform,” Oscar Enrico Reyes Jr., president and chief executive of G-Xchange, Inc. (GXI).
“We are working hand-in-hand with regulators and law enforcement to shut down illicit activity and protect our users,” he added.
GCash recently removed access to in-app gaming to comply with the Bangko Sentral ng Pilipinas (BSP) order to suspend in-app gaming access in all BSP-supervised institutions (BSIs).
To enforce its zero tolerance policy, GCash takes immediate action against illegal activities. The company blocks and suspends accounts involved in unlawful transactions, prohibits the misuse of payment QR codes for illegal payments, and collaborates with the BSP, the Anti-Money Laundering Council (AMLC), and law enforcement agencies to identify, report
Since 2023, GCash has taken down over 57,000 phishing sites; and reported 916 illegal online gaming sites to authorities.
These efforts reinforce GCash’s aggressive crackdown on illicit operators and its commitment to building a safer digital financial ecosystem.
“GCash is committed to ensuring that Filipinos can transact with confidence and peace of mind. We will continue to strengthen our security systems and work closely with regulators and law enforcement to keep our platform safe,” the company said.
