The Philippines boasts an exciting and interesting gambling market. It is one of the few countries in Asia where regulated gambling is allowed. In addition, this country is a favorite destination for international players who want to travel, relax and play in the casino. Although there is a lively market and a supportive set of laws, this does not mean that Filipinos can walk into a casino and play games. Moreover, residents cannot simply register and play in a club with a national licence – an online service in the Philippines. The legality of playing at casinos in the Philippines is a complex issue, and you need to know the basics.
Offshore licensed as the best destination
It may seem like Filipino laws are against the locals, but that doesn’t mean that online services are closed to players based in the Philippines. If you prefer the comfort and convenience of an online site, you should register with offshore licensed websites. These are your online services approved and licensed in other countries. For example, these sites may be licensed by the Malta Gaming Authority, the Government of Costa Rica, and the UK Gambling Commission. There are a few things players should keep in mind when dealing with offshore licensed casinos. First, checking if the siteaccepts bets from Filipino players is essential. Not all offshore licensed casinos will accept Filipino players due to regulatory compliance.
Second, you need to check the operator’s safety and security policy. Even though it’s licensed, it won’t give you a clear idea of ??the casino’s commitment to player safety. Thus, you need to check if the website is fully encrypted, if the games are randomly matched, and if the Privacy Policy is transparent and user-friendly for the players. To be confident in the site and access many games, you must read the casino’s collections. This way, you can find the best online casino in Philippines with hundreds of games and be sure that these casinos are verified. And third, choose an offshore licensed casino that accepts standard payment methods and your preferred currency. A handy Cashier section is essential if you want to enjoy online gambling.
PAGCOR and regulated gambling in the Philippines
There are different forms of gambling in the country. Some of the most popular are card games such as blackjack, baccarat, poker, and sports betting. Cockfighting or electronic sabong is another popular form of gambling in the country and a reliable source of income for the national government. The Philippine Amusement and Gaming Corporation, or PAGCOR, leads the way in all forms of regulated gambling. It is a government agency that operates several sites and betting shops and is the country’s leading regulatory body.
The agency is authorized as the only state agency that has the right to operate and open casinos and gaming pools. It uses several casinos, the most important of which is the Casino Filipino in Manila. It currently has over 13 sites and slot machines scattered across the country. In addition to managing the casino, the agency also issues licences to operate online casinos. The Philippines licences these websites through PAGCOR, but they only serve the offshore market. These online casinos are closed to Filipino players. Instead, locals can only play at physical casinos regulated by PAGCOR, provided they are 21 years of age or older.
Cagayan Freeport and the Legality of Online Gambling for Filipinos
Apart from PAGCOR, another agency also regulates and assigns a remote master licence for online casinos. The Philippines is proud of First Cagayan Resort and Leisure Corporation (FCRLC), which operates in the Cagayan Special Economic Zone. Here, several independent casinos only accept bets from foreign players. He also approves a remote licence for online casinos. Players from the Philippines are again not allowed to register and play on these sites. Some laws target locals playing these games at online casinos with a local licence.
Basic safety requirements
- Financing of the company must be regular and must be at a certain level;
- Payment of taxes must occur within a clearly defined time frame;
- Reporting of winnings on players’ balances must be provided at the request of the authorities;
Price policy
There are several licence options in the virtual gaming field, which have different costs. In addition, several points also require financial investments.
Full licence
The full licence covers all virtual gaming activities: bookmakers, online casinos, poker rooms, and other online services. The cost of applying for a new licence is $40,000. The licence renewal price is also $40,000. In case of refusal (the permit is not granted for any reason), only $25,000 is returned. So $15,000 goes to the Philippine treasury anyway.
The gaming fee (money generated from online casino bet processing) is only 2% of the monthly gross income. Additionally, you need to pay $48,000 immediately after obtaining a license in your hands (only for betting companies or online casinos that have a bookmaker in their system). $15,000 can be credited towards the game fee, when you renew your registration at the beginning of each year. The game fee will still be 2% of the monthly profit of the project. The full licence includes a limited interactive permit and needs to be renewed. You will have to pay an additional $60,000, and this will need to be done before the extension is carried out.
Interactive licence for bookmakers (sports betting)
The cost of obtaining this document is $26,000. In case of official refusal, the state returns only $18,000. $3,500 is also withheld as fair value. To renew this licence, in the end, you will need to pay $15,000. In addition, the restrictive interactive permit (as in the full version) requires an annual fee of $60,000. The only thing is that you can do this after updating the licence.
Conclusion
The gambling business in the Philippines continues to develop actively, despite a significant decline in this industry in many other countries. Casinos in Manila and other cities attract customers from different countries. It also applies to online casinos. Philippine online services are known all over the world for their reliability. Now you know everything about working with online gambling in the Philippines, and you can safely start playing.