PAGCOR and the Impact of Government Regulation on the Gambling Market in the Philippines
To be honest, when you think of Asian gambling hotspots, Macau and Singapore come to mind first. But here’s a shocker: the Philippines has quietly been stacking chips to become the region’s kingpin. Behind this, there’s a secret influencer — the Philippine Amusement and Gaming Corporation (PAGCOR).
Since 1977, PAGCOR has been present in the gaming industry. The agency also controls the Manila casino resorts where high rollers play. This article will explore the activities of PAGCOR and how it has influenced the Philippines gambling market. So, grab your chips, let’s dive in.
How PAGCOR Controls the Philippine Gambling Market
PAGCOR is both a regulator and an operator. This means it directly runs casinos while also controlling the industry.
It is worth noting that PAGCOR’s online casino list includes the City of Dreams and Okada Manila. In fact, over 60% of PAGCOR’s revenue comes from these casinos.
This unique setup has its pros and cons such as:
Pros
- Maintenance of standards across all licensed venues.
- Generation of state revenue.
- Mobilization of responsible gambling measures.
Cons
- There is a potential conflict of interest as PAGCOR functions as both referee and player.
- The rules for offshore operators are much tougher, reducing market competition.
The Online Gambling Boom and PAGCOR’s Tight Grip
“Regulation isn’t about killing the industry — it’s about keeping it honest,” – Dr. Bernardo Villegas.
The rise of online casinos forced PAGCOR to adapt. In 2016, it launched the Philippine Offshore Gaming Operators (POGO) system. This system came in place to allow international online gambling companies operate locally.
Since then, the results so far have been tremendous with strides including tax increment. There have also been cases of POGO hubs being discovered and linked to criminal activities. To further cement the matter, unlicensed operators are at risk of being caught and shut down permanently.
What Players Should Know About PAGCOR’s Rules
There are some rules players and casino hubs should know before engaging in gambling activities in the Philippines.
The age limit is fixed at strictly 21+ (ID checks are mandatory). There are taxes placed on all winnings with a 20% tax on wins over ₱10,000. At any time, players can make use of the self-exclusion act. This act permits players to voluntarily ban themselves for 6-12 months.
All players must know that only POGO licensed sites, like those listed on PAGCOR’s official portal, are legal. You can check verified review sites to see PAGCOR online casino register or visit the agency’s website to see the list.
Local banks are ordered to block transactions with unapproved platforms. So, always check for PAGCOR’s seal on casino websites — if it’s missing, you’re risking your money.
“Our regulations protect players and boost tourism — we’re the gold standard in Asia.” – PAGCOR Chairman, Alejandro Tengco.
Final Thoughts
According to stats, the Philippine gambling market is projected to hit $5 billion by 2027. Part of this feat would be owed to PAGCOR. So, for Filipinos who enjoy gambling, the agency’s rules and offerings should be taken seriously.