The government is expected to earn from P250 to P350 million a month from licensing Online Sabong
The Philippine Amusement and Gaming Corporation (PAGCOR) has authorised “Online Sabong” or the placing of bets on live cockfighting. Although this had been a long time coming, the urgent need of the government’s additional funds because of the pandemic pushed regulating this sport even further.
Senior vice president for Offshore and Online Gaming, Jose Tria said on Monday, “It is also imperative that we provide protection to online cockfighting aficionados making sure that they are not cheated or robbed of their hard-earned money, thus the need to give them a licence,”
Tria explained, “it would be easier for PAGCOR to monitor and protect the interest of online bettors if the online cockfighting operators have a licence.”
Domingo said only two operators, namely The Lucky 8 Star Quest Inc. of Pitmaster Live and Belvedere Corp., among the five that have applied for a licence to operate Online Sabong, were approved and were issued licenses to operate cockfighting online after complying with the documentary requirements that include their paid-up capital and performance bond of Php 75 million.
Domingo stated, “There are four others lined up but they need to pay those fees with us so they can be given notices to proceed”. Domingo added, “We’re hoping that this will earn us anywhere from P250 to P350 million a month.
Tria warned that those who operate without a licence from PAGCOR will be arrested. According to Trias, PAGCOR collects P100 million per month from each licensed online sabong company.
SiGMA’s next Roadshow’s focus will be on Manila, where members of the regulatory board including Andrea Domingo will give their take on gaming regulation in the Philippines.
Cockfighting is an established tradition in the Philippines that dates as early as three thousand (3,000) years ago. The gaming activity is essentially placing two roosters/cocks in an arena and betting on which between the two comes out victorious. Regulation of live cockfighting in cockpit arenas is regulated by the Local Government Unit concerned. On the other hand, regulation of online sabong or eSabong is regulated by the Philippine Amusement and Gaming Corporation.
About SiGMA Roadshow: Next Stop Manila
Join us virtually for two engaging hours bursting with insightful conference content and new business opportunities. These unique, interactive, virtual mini-conferences will take place in a different country every month. Next stop is Manila, join the conversation. We’ll be covering various topics from Esports to regulation trends. Register now!