The President of the Philippines, Ferdinand MarcosJr, has said that a total ban on online gambling is not advisable, given the unintended consequences that this could have.

Philippine President says that a complete gambling ban is not advisable

While he acknowledged gambling hawks’ desire to rein in gambling and boost social responsibility, and protect vulnerable consumers, the President urged them to reckon with the realities – banning online gambling would drive players to illegal gambling websites.

"The first effect of banning it fully is to put it underground, and then we have no control. The problem is not online gambling. The problem is the social effects on our children and those who are addicted to gambling," the President added, explaining the root issue of the problem.

Doing away with regulated gambling at this point would only lead to more issues down the road, as consumers are not being protected. To address the current predicament, President Marcos Jr has urged for better safeguards that help consumers steer clear of gambling-related harm and addiction.

There have been several initiatives launched in that direction. One of those has come from the country’s central bank, which has urged tougher measures on online gambling, and specifically for closer scrutiny of gambling-related transactions.

More measures needed to protect consumers in the Philippines

While the bank is still thrashing out the details, among the new enforceable rules will be stronger safeguards that will be obligatory for all financial service providers.

Some have criticized the President for his lack of a more pronounced position, but given the circumstances, there is no indication that eGames may follow the same fate as Philippine Offshore Gambling Operators, which were banned.

The measures are even more urgent, especially now that offshore gambling is said to account for about half of all gambling spending in the Philippines. This is a problem experienced by other developed markets, including the Netherlands.

Yet, any political moves may actually enjoy a strong backing from the electorate, as the majority are in favor of a regulated gambling market that is safe and protects consumers. Only about 18% of all Filipinos seem to be opposed to online gambling domestically and call for its complete ban.

Source