Philippine central bank, lawmakers move to curb iGaming access
The Bangko Sentral ng Pilipinas (BSP), the Philippines central bank, is preparing a new policy aimed at limiting Filipinos’ access to online gambling platforms, primarily through digital payment systems. The proposed circular will require BSP-supervised financial institutions, including banks and electronic money issuers, to introduce measures that can restrict gambling-related transactions.
“The circular would seek to require BSP-supervised institutions (BSIs), primarily banks and electronic money issuers, to better protect users of their digital platforms from these risks. Protection may come in the form of various limits to gaming access,” the BSP said in a statement.
A draft of the circular has been released to stakeholders for review and comment, and feedback is currently being considered. The central bank has acknowledged the need to address the growing concern over how financial tools are being used to enable gambling access, especially among younger users.
“This latest initiative builds on the BSP’s earlier actions, including its 2021 directive prohibiting regulated entities from dealing with unlicensed gambling operators and its 2022 order for e-wallets and other BSIs to remove links to electronic sabong (e-sabong) from their platforms following the suspension by the national government of all e-sabong operations,” the BSP said.
Lawmakers call for broader restrictions
Several lawmakers have echoed the BSP’s position, urging the government to make online gambling less accessible through more stringent regulations. On Thursday, party-list representatives from Bicol Saro and Akbayan raised concerns about how e-wallet apps, such as GCash and Maya, have made gambling transactions more convenient.
They argued that gambling-related cash-ins should not be treated in the same manner as mobile game purchases. They warned that easy access to online gambling platforms has contributed to growing cases of household debt, youth gambling, and financial instability in low-income communities.
The lawmakers shared that a separate bill is also being prepared to include stricter regulations. This will include age restrictions, the removal of gambling access from e-wallets, as well as higher minimum deposits to limit entry. The lawmakers said that these measures are aimed at discouraging casual participation and reducing impulsive gambling, particularly among younger users.
E-wallet bill proposes harsh penalties
To further tighten the regulatory environment, House Bill 721 was filed to penalise e-wallet platforms that promote or enable access to online gambling. The bill lists prohibited acts such as embedding gambling advertisements, redirecting users to gambling apps or websites, and distributing betting instructions within their platforms.
Under the proposed law, the first violation could result in a fine ranging from PHP100,000 to PHP500,000 ($1,768 to $8,843) and a written warning. A second offence would increase the fine to PHP1 million ($17,686) and could lead to suspension of operations for up to a month. A third or further violation would risk the platform losing its operating licence, alongside a fine of up to PHP5 million ($88,430).
E-wallet providers would also be required to submit annual compliance reports to the BSP, outlining internal controls and efforts to block gambling-related content. The BSP and the Department of Information and Communications Technology (DICT) would be tasked with enforcement and oversight.
Senate pushes for stricter measures
In the Senate, a similar proposal has been introduced to ban the use of e-wallets for transactions related to gambling. The measure recommends tighter know-your-customer (KYC) protocols, higher initial deposits — including a PHP10,000 ($176) minimum — and the removal of promotional materials near schools or residential areas.
The proposed bills in both chambers reflect growing political momentum to address what lawmakers describe as the “normalisation” of gambling in the digital sphere in the Philippines. As gambling ads appear more frequently in physical and online spaces, legislators are seeking to define more precise boundaries to protect public welfare.
