#e-wallet gambling restrictions

Concerned about the rising risks of gambling addiction, Philippine lawmakers are proposing new rules to restrict how easily e-wallets can be used to access online gambling apps. The proposed legislation aims to impose tighter controls to curb the easy flow of money into online gambling through e-wallets. Online gambling has surged in popularity in the Philippines, partly fueled by the seamless transactions e-wallets offer. The Philippine Amusement and Gaming Corporation (PAGCOR) reported a 49% decline in revenues following the removal of online gambling links from major e-wallet platforms such as GCash and Maya in August. Lawmakers also questioned e-wallet providers about their previous earnings from online gambling transactions. The BSP said it is finalizing new regulations for e-wallets and banks that will include limits on betting amounts, restrictions on gaming top-ups, and a ban on using online loans for gambling. The Bangko Sentral ng Pilipinas (BSP) has ordered e-wallets to unlink their platforms to online gambling sites within 48 hours. BSP Deputy Governor Mamerto Tangonan has stated that they have issued an order for e-wallet platforms to remove links in-apps to allowing users to use e-gambling sites. Read more in our articles including "Philippine Lawmakers Push to Limit E-Wallet Use for Online Gambling" and "PAGCOR revenue drops nearly half after e-wallets cut gambling links".