The Philippine Amusement and Gaming Corporation (PAGCOR) has reported that online gambling transactions dropped by 50% following the Central Bank of the Philippines’ decision to bar e-wallets from integrating with licensed gaming platforms. Chairman Al Tengco confirmed the immediate effects during a budget briefing, pointing to reduced accessibility for players and a shift in transaction volumes.
While major providers such as GCash and Maya complied, research suggests that many players have migrated to offshore unregulated sites still offering e-wallet support. This raises broader concerns about consumer protection, as only 40% of online operators fall under PAGCOR’s jurisdiction. Despite this regulatory challenge, the country’s iGaming sector still recorded PHP214.75bn in revenues for H1 2025, led by electronic gaming growth.
The development underscores the tension between tighter oversight and the unintended consequences of regulatory intervention. Experts warn that unless regulators adapt payment policies to player behaviour, unregulated operators may continue to gain ground.
