Philippine regulator approves online gambling from licensed casino operators. The Philippine Amusement and Gaming Corporation announced that land-based casinos could offer internet gaming to local gamblers. However, operators still need to apply for an online gambling license.
PAGCOR CEO and chairman Andrea D. Domingo said it is accepting applications from licensed casinos in the nation. She described casino-based internet gambling as live shots. Also, it is available only to residents of the country.
PAGCOR said that minors couldn’t access online gambling in the Philippines. The Live shots will include various security measures that include facial recognition, monitoring, and tracking systems.
Philippine Regulator Approves Online Gambling
According to sports betting platform sources, applicants should already have the right software before launching their online gambling services. Also, they must pay a PHP100,000 application fee.
Operators need to remit 25 percent of their gross gaming revenue to the regulator. Also, they need to pay a franchise tax of 5 percent of their GGR to the Bureau of Internal Revenue. According to the best sportsbook software provider, Okada Manila, City of Dreams, and an unnamed casino in Subic, Pampanga are the first casinos to apply for an online gambling license. The three casinos are now in the testing stage for their software.
Domingo said that they want to regulate the online gambling sector fully. They don’t want people who are unqualified to play on online gambling sites. Also, PAGCOR submitted proposed guidelines for online cockfighting.
According to sportsbook pay per head service sources, PAGCOR expects positive net earnings by the end of the year. It came after the regulator reported a sharp decline in its earnings in the first nine months of the year.
In the first three quarters, PAGCOR’s net profit dropped by 97 percent year over year to PHP132 million. They expect 2021 to be better than the current year.
