The Philippine Central Bank has proposed a set of new regulations aimed at tightening oversight of online gambling, beginning with stricter controls on payment service providers.
The Bangko Sentral ng Pilipinas (BSP) has introduced proposed regulations aimed at reducing the social and financial risks linked to online gambling.
The move comes amid growing concerns over the negative impact of digital betting. As reported by the Straits Times in an article titled “Online gambling boom — and doom,” the widespread availability of iGaming has pushed many Filipino households into addiction and financial hardship.
Some lawmakers and critics are calling for a complete shutdown of the online gambling industry. While the Philippine Amusement and Gaming Corporation (PAGCOR) is against an outright ban, it has expressed support for tighter regulations on gambling advertisements. President Ferdinand Marcos Jr., who halted offshore gaming operations in July, is also weighing the possibility of imposing a sin tax on iGaming activities.
Establishing ‘standards and expectations’
The Bangko Sentral ng Pilipinas (BSP) is pushing for stronger "end-user" safeguards in online gambling, including restrictions on the use of digital payment platforms for betting and setting daily transfer limits for players. The proposed rules would also require gambling operators to strengthen due diligence protocols.
According to a draft circular from the BSP’s Monetary Board, the goal is to maintain “a safe, efficient, and reliable retail payment system” by preventing digital payment services from being exploited for activities that are “socially harmful and detrimental to financial health.” The new regulations would set clear standards for payment service providers (PSPs) handling gambling-related transactions, with tougher know-your-customer (KYC) requirements.
Under the proposal, PSPs would need to obtain approval from a bank before offering services tied to online gambling. Applicants would also be required to:
Maintain a minimum capitalization of PHP300 million ($5.29 million).
Effectively manage risks tied to anti-money laundering (AML), counter-terrorism financing (CTF), and fraud.
Establish a board-level committee to oversee AML/CTF compliance.
Submit regular reports—monthly or upon request—detailing all gambling transactions and affiliated iGaming platforms.
Enforce player limits, including a maximum of six hours of daily play and a 24-hour cooling-off period for excessive usage.
Banning at-risk groups and government personnel
Under the proposed rules, payment service providers (PSPs) would be prohibited from directing users to online gambling platforms. The regulations would also ban certain individuals from participating in online gambling, including anyone under 21, college and university students, government and military personnel, law enforcement officers, and recipients of welfare benefits.
Fintech Alliance Philippines—which represents leading digital payment providers such as GCash and Maya—has expressed its full support for the BSP’s initiative to curb problem gambling and crack down on illegal gambling platforms.
“We are united in our commitment to work with regulators, strengthen consumer protections, and help safeguard the welfare of Filipino users,” said Lito Villanueva, the alliance’s founding chair, in an official statement.
Religious leader decries online gambling crisis
According to the Catholic Herald, the Catholic Church has strongly criticized what it describes as a growing crisis of online gambling harms—particularly affecting the youth and the poor.
Bishop Cardinal Pablo Virgilio David warned that online gambling has effectively brought a casino “into the living room, the bedroom, and even a child’s pocket.” With the decline of POGOs, he said, the damage is no longer limited to foreigners, but is now targeting Filipinos themselves.
“It’s more profitable than traditional casinos, aggressively marketed by celebrity endorsers, and completely accessible to Filipinos of all ages without proper regulation,” David said. “It’s destroying the lives of the poor who become addicted.”
David also condemned PAGCOR for defending the online gambling sector. “It’s absurd for a government agency to express concern over illegal offshore platforms when it has openly legalized domestic online gambling—completely and without restraint,” he stated.
The Bangko Sentral ng Pilipinas is accepting public feedback on its proposed online gambling regulations until July 25.
