Gambling license in the Philippines: all pros and cons.
The Philippines is a real hub in Asia, where the gambling industry is rapidly developing. In the context of this, we should recall projects that work with a Philippine gambling license, such as Fastwin (https://fastwin.ph/), Crazywin (https://www.crazywin.ph/), Bet88 (http://bet88. ph/). The main regulator of online gambling in the Philippines is PACGOR. PAGCOR is a public corporation under the control of the President of the Republic of the Philippines. In addition to PAGCOR, in the Republic of the Philippines, special economic zones such as APECO and CEZA can issue licenses for casinos in their jurisdiction based on Republic Act No. 9490.
Like any other licensing system, Philippine gambling licenses have their advantages and disadvantages. And now we will consider them.
Let’s start by analyzing the advantages of obtaining a Philippine gambling license.
- The first advantage worth noting is the relatively low requirements for potential iGaming operators compared to other countries.
- It is worth noting that the Philippine license has a fairly high level of security and protection for players. Also, as an advantage, we emphasize legal stability. That is to say, the Philippines is known for its stability in terms of law and legal procedures, which provides reliability and security for players and casino operators.
- The Philippines has a very significant experience in the regulation and licensing of gambling, which ensures the efficient and safe functioning of the industry both in the Philippines and internationally.
- The country is also worthy of attention in the context of advantages and competitiveness in the international market, in particular in Asia. The country is open to foreign investors and is actively working to improve the conditions for gambling. Since the Philippines is located in Asia, this makes it an attractive destination for investors and players from the region.
- It is important to pay attention to the disadvantages that a Philippine gambling license has. Despite the really careful selection and control of gambling operators, there is a risk of fraud and other unfair practices that can compromise the reputation of the entire industry. As evidence, we can recall the recent conflict with China in this vein, whose government fined and tried in every possible way to prevent the operation of offshore online casinos on its territory.
- It is also important to remember the frequent cases of delays in the process of obtaining licenses. Since gambling licenses require meeting certain standards of financial soundness, industry experience and compliance with regulations and laws, this can make obtaining a Philippine license unattainable for small companies and start-ups.
- Certain limited features associated with a Philippine gambling license should be highlighted. Since the Philippines offers licensing for only a few types of gambling verticals, this limits the development of the industry in a certain way. By the way, it is strictly forbidden to accept bets from residents of the Philippine Islands (we are talking about both bets in online casinos and bookmakers).
As we can see, the Philippine gambling license has its advantages and disadvantages. The Philippines can certainly be an interesting and profitable solution if, for example, your project is aimed at Asian markets. If you are interested in the CIS countries or Europe, then we advise you to take a closer look at the gambling solutions of Curacao, Kahnawake, or Malta, since in this case, these solutions will be more profitable in terms of ease of doing business in the above-mentioned target markets.
SBSB lawyers have many successful cases of obtaining gambling licenses in different jurisdictions. We will select the optimal jurisdiction, taking into account all the features of your gambling project.