Summary
- Banning online gambling in the Philippines could deeply affect consumers in a negative way.
- Without proper regulation of online gambling, people will turn to offshore sites, warns Philippine President Ferdinand Marcos Jr.
- We need stronger safeguards to protect consumers, shielding them from the dangers of gambling-related harm.
President Ferdinand Marcos Jr. of the Philippines believes that implementing a total ban on online gambling isn’t the right approach due to the unexpected consequences it might trigger.
Philippine President says that a complete gambling ban is not advisable
Acknowledging the concerns of those who wish to curb gambling and enhance social responsibility, the President highlighted the importance of facing reality. He warned that banning online gambling could push players to risky, illegal websites. The immediate consequence of a total ban is driving it underground, stripping us of any control. The issue isn't simply online gambling; it's the impact on our children and those battling gambling addiction, the President stressed, pinpointing the true challenge at hand. Eliminating regulated gambling now would only multiply problems, leaving consumers unprotected. To effectively tackle the existing situation, President Marcos Jr is calling for stronger protections to help individuals avoid the pitfalls of gambling harm and addiction. Several initiatives are already underway to address these concerns. Notably, the country’s central bank has taken a stand, pushing for stricter measures on online gambling and advocating for more thorough scrutiny of gambling-related transactions.
More measures needed to protect consumers in the Philippines
As the bank works through the final details, new rules will soon be in place, requiring all financial service providers to adopt stricter safeguards. Criticism has been directed at the President for not taking a firmer stance, but given the current scenario, there's no sign that eGames will meet the same ban as Philippine Offshore Gambling Operators. This urgency is heightened now that offshore gambling represents nearly half of all gambling expenditures in the Philippines, mirroring issues faced by other nations like the Netherlands. Despite the complexity of these political steps, they might actually gain strong support from the public, as most people favor a regulated, consumer-protective gambling market. Interestingly, only about 18% of Filipinos oppose local online gambling and want it banned completely.
