Implementing Tighter Regulations on Digital Transactions for Online Gambling in the Philippines
The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has announced new regulations aimed at strengthening safeguards against online gambling and promoting responsible use of digital financial services. The regulations, which were announced on the 7th of August, 2025, will affect banks, e-wallets, and other financial institutions.
In response to the surge in online gambling transactions and concerns over its financial impact on consumers, all BSP-supervised institutions, including e-wallet providers, will be required to remove all in-app gambling access and unlink their platforms from online gambling sites within 48 hours of the directive issued on August 14, 2025. This includes removing links or icons that redirect users to online gaming or gambling sites in mobile payment apps and websites.
The regulations also introduce daily limits on gambling-related transfers and time-based restrictions on gambling payments. Users will have the option to take voluntary breaks from gambling transactions or self-exclude from gambling transactions entirely. Enhanced identity checks, including biometric verification like facial recognition, will be mandated to ensure the security and integrity of transactions.
The regulations are intended to curb addiction related to digital financial services and prevent fraud and minimize financial harm. However, it's important to note that the regulations do not address the issue of missing cockfighters directly or mention any specific penalties for non-compliance.
The heightened scrutiny of the gambling industry in the Philippines is due to allegations of 34 missing cockfighters being buried near Taal Volcano. Cockfighting, a popular but controversial activity in the Philippines, involves betting on rooster fights. Despite not specifying any direct measures against cockfighting or rooster fighting, the regulations may be a response to the controversy surrounding these activities.
The new regulations aim to promote responsible use of digital financial services and are part of a broader effort to address the growing issue of online gambling in the country. From 2020 to 2024, online gambling transactions grew by over 5,500%, with Gross Gaming Revenue (GGR) reaching P106.53 billion in the first half of 2025 alone. The regulatory move has been met with urgency among legislators, emphasizing the seriousness of the issue.
In conclusion, the new regulations by the Bangko Sentral ng Pilipinas are a significant step towards addressing the issue of online gambling and promoting responsible use of digital financial services. The regulations will help protect consumers from the financial impacts of online gambling and curb addiction related to digital financial services. As the regulations are implemented, it will be interesting to see the impact they have on the online gambling industry in the Philippines.
- The gambling industry, with its growing digital presence, has caught the attention of financial regulatory bodies, as seen in the Philippines' BSP new regulations.
- These regulations aim to mitigate the financial risks associated with online gambling, impacting not only banks but also fintech companies and casino-and-gambling platforms.
- Responsible gambling is being promoted through daily limits on gambling-related transfers, time-based restrictions, and voluntary breaks from transactions.
- Despite the new regulations not directly addressing cockfighting or rooster fighting, they could be a step towards addressing the controversial betting activities' influence on the finance, banking-and-insurance, and the overall gambling trends in the Philippines.
