Online Casinos have transformed the ways in which people bet on the outcomes of uncertain events. People no longer have to visit a brick-and-mortar Casino to play a game. Rather they can bet and enjoy themselves from the comforts of their home.
If you live in the Philippines and you are interested in gambling, then you can search for an Online Casino in the Philipines. However, before you register yourself at an online site and start playing, you must know about the rules and regulations that apply to online gambling in the Philippines.
All That You Should Know About Gambling In The Philippines
Is Gambling Legal In The Philippines?
The first thing that comes to mind when people talk about gambling is its legality. Even today, in the twenty-first century, there are many places in the world where gambling is considered illegal. The illegal status attributed to Casinos and gambling stems from societal taboos associated with wagering.
There is a strong societal taboo against gambling in East Asian societies, but it is legal in the Philippines. In the Philippines, a person has to be at least twenty-one years old before he can play at a Casino. However, the age limit is eighteen years for people who are residents of the Cagayan SEZ.
Wagering became legal in the country in 1975. And thus law created a body named the Philippines Amusement And Gaming Corporation, also known as the PAGCOR, which regulates betting activities in the country.
This law specifically states betting is legal in those places which are licensed and regulated. However, the laws are a little unclear when it comes to online gambling.
It is true that there is no explicit law that forbids betting via online sites. However, no Filipino-based online betting site can offer their services to the local residents of the country. This does not mean that if you are in the Philippines, you cannot wager online.
You can always visit an online site that has its base in some other nation. The only rule is that the Casino should be regulated and licensed by the regulators in the home country in which they are located.
Thus it can be said that most of the compliance is expected from the owners of the betting sites rather than from the people who play on those sites.
How Does The Gambling Industry Operate In The Philippines?
The PAGCOR is the primary body that regulates betting and Casinos in the country. This body is a fully government-owned entity, and its main function is to give permissions and licenses to Casinos in the country.
The main reason why gambling is allowed in the country is to generate revenue from tourists who visit the country.
Online sites cannot engage with residents of the Philippines; hence they mainly generate revenue from tourists and residents of other countries who visit the betting sites. And the money generated as revenue is used for the fulfillment of the developmental goals of the nation.
What Are The Implications For Violating The Gambling Related Rules In The Country?
The nature of punishment that a person or an organization gets for violation of the laws depends on the type of offense. Depending on the degree of violation, the punishment can range from a month in prison to around twenty years in prison.
So if you are betting illegally, you can be sent to the gallows for a period of one month to three months.
However, if you are employed at a place that offers illegal betting opportunities, then you are likely to face a more harsh sentence, and you can expect to be in jail for six to eight years.
So the rules are tougher on the organizations than on the individual violators.
Why Does a Philippines-Based Organization Not Offer Online Games To Locals?
The peculiar ban on local organizations from offering online games to local residents stems from the political discourse in the country. The leaders of the country believe that online betting is problematic, and thus they have banned the Filipinol online sites from offering their services to the locals.
What Is The Future Prospect Of The Online Betting Industry In The Country?
Online betting sites have seen rapid growth in the country. In fact, a report by a popular local newspaper states that the demand from the online wagering industry is so solid that it was the second largest demand driver for workspace in the nation.
What Does It Take To Register An Online Betting Site In The Philippines?
If you wish to operate an online gambling site, you have to seek a license from the local regulator, that is, the PAGCOR.
There is a fee that needs to be paid to the regulating authority at the time of application. The fee is around 50000 dollars for processing the application form. Once the approval has been given, an additional sum of 150000 dollars has to be deposited with the regulating authority.
Thus it can be said that starting an online Casino business in the Philippines is quite an expensive affair.
What Does The Society Feel About The Proliferation Of Online Gambling Sites In The Nation?
It is true that Asian nations have been averse to the idea of betting. However, the Philippines can be seen as an exception since the people here have accepted the popularity of online betting. And they have been especially welcoming of the betting industry given the hefty revenue that the industry brings to the nation.
Gambling has deep cultural roots in many Asian countries. But the harmful effects of problem gambling have forced nations to be strict when it comes to betting. So if you do not follow the rules, you could be in trouble.
It is prudent to know the local laws before you start wagering. Usually, in most countries, the compliance burden is lower for individual players. So learn about the rules and follow them while you play and wager your money.