It’s been a busy couple of weeks for the Philippine Amusement and Gaming Corporation, who are said to have received 76 requests for offshore gambling licenses.
In the Philippines, all forms of gambling are monitored and regulated by the Philippine Amusement and Gaming Corporation, more commonly known simply as PAGCOR. This regulatory body is responsible for distributing offshore gambling licenses to gambling companies both online and on the ground.
Chief Executive of PAGCOR, Andrea Domingo, made Filipino gambling news this week by telling the media that the national gambling regulatory body has received 76 requests for licenses to operate an offshore gambling website.
Domingo has stated he hopes to grant 25 offshore gambling licenses by the end of the month. During that time, it’s likely that PAGCOR will receive a number of new requests from other companies. Licenses for new gambling sites are eligible for one year, after which the website needs to have it renewed. They cost $50,000 for the application, and another $200,000 if approved.
Who will be able to access these sites?
The proposed licensees, who are known to the government as Philippine offshore gambling operators, will offer their casino games exclusively in other countries for foreigners aged 21 and above. Locals inside of the Philippines will be unable to access the websites.
There are still no online casinos in the Philippines at the moment. PAGCOR runs over 200 E-game stations, known as PEGS, where players can play Philippine games with prizes and wager their money “online,” but no true domestic internet betting sites are running here. The only way to wager your money over the internet inside the country is through a foreign gambling website that accepts Filipino players.
What do you think about the news that PAGCOR has received 76 requests for offshore gambling licenses. How will this affect the Filipino gambling industry? Tell us what you think by leaving a comment below!