Online gambling activities down by 50%
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He also pointed out that the government lacks a centralized regulatory body for digital gambling in the Philippines, grappling with a limited public health response. “Lower-income groups are heavily affected, risking poverty perpetuation. It is also important to mention that online gambling poses serious social repercussions, including mental health decline, family conflict and attempted suicide,” he said in a statement.
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Given the sector’s sensitivity to regulatory risks, investors must remain cautious on trading the stocks in the gaming sector,” Ms. Alfonso said. “A ban might have the unintended effect of pushing many participants into a black market, which would be worse for everyone. THE PROPOSED BAN on Philippine inland gaming operators (PIGOs) may hurt National Government (NG) revenues as well as stocks of listed gaming-related companies, analysts said.
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“We will suggest to the authorities to file cases against resort owners to allow their properties to be used by illegal aliens in their covert operations,” said Tansingco. “This will serve as a warning to those who might attempt to start illegal online gambling operations, which has already been banned by the President,” he added. During the raid, hundreds of foreign nationals were found to be engaging in illegal online gaming operations on makeshift work stations inside the resort premises. Several bills in Congress have already been filed to restrict online gambling accessibility, especially through digital payment platforms that host and link gambling content. MANILA – E-wallet GCash and digital payment firm Maya assured that they would comply with the Bangko Sentral ng Pilipinas’ (BSP) order to unlink from online gambling sites. With the legalization and rapid rise of online gambling in the Philippines, more and more players are turning to digital casinos for exci…
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