Summary
- A new trade group has arisen in the Philippines, dedicated to safeguarding players and promoting responsible gambling.
- The PlaySafe Alliance steps onto the stage in a crucial moment as the nation grapples with potential changes to its online gambling bans, contemplating a possible prohibition.
- The trade group aims to show that implementing a ban would be an excessive step and quite unnecessary.
The Philippines is deeply engaged in a heated discussion: should online gambling continue or be stopped? President Ferdinand Marcos Jr leans away from imposing a blanket ban, offering a thoughtful perspective that such a ban might not effectively reduce gambling-related harm.
New trade group to champion responsible play and a regulated online gambling market
In the midst of swirling debates and opposing views, 19 licensed online gambling operators in the Philippines have united to form a new trade group committed to fostering responsible play, ensuring regulatory compliance, protecting consumers, and critically, reining in the illegal gambling market. This newly established PlaySafe Alliance of the Philippines gathers some of the industry's most significant players, including Trojans Well Entertainment Corp, Gavin Ventures Inc, Playmate Leisure Solutions Corp, Jade Entertainment and Gaming Technologies Inc, among many others. The creation of this alliance comes at a pivotal time with heated discussions ongoing about a potential ban on online gambling, a proposal supported by some lawmakers and the Catholic Church of the Philippines. However, banning this activity could potentially do more harm than good. Pragmatic lawmakers and President Marcos Jr. argue that without domestic gambling options, consumers will likely turn to the offshore market. Meanwhile, various measures have been proposed, such as banning the use of platforms like GCash and Maya for funding accounts and setting a funding limit of around PHP10,000 for gambling accounts.
Calls for a more pragmatic approach to regulating gambling are heard
As discussions continue, the central bank is fiercely advocating for tougher scrutiny of transactions linked to gambling platforms. This call for more robust oversight intends to elevate consumer protection standards across the industry, prompting financial institutions and operators to act with foresight. PlaySafe Alliance emerges as a significant force in this transformation, striving to establish guidelines and propose meaningful next steps to safeguard consumers.
