The Presidents statement did not make it clear whether a proposed Philippines online gambling ban would affect local companies.
Philippines Online Gambling Ban
President Rodrigo Duterte declared today that all forms of online gambling would be stopped throughout the Philippines. He went on to say that the Philippines was not benefiting in any way from online gambling.
Actually, he may have shot himself in the foot. It is estimated that the country benefits to the tune of around 10 billion dollars per year in gambling revenue from foreign tourists. Probably that will not be affected but who knows how far he will go to curb gambling.
The ban will not come into effect any time soon, it was just outlined in the President’s budget speech for 2017. He said online gambling has no use and also the government had no mechanism for regulating the industry. Reading between the lines the decision may be because the online gambling companies are not paying the correct taxes. There have also been rumours of bribery and corruption.
It is possible that the President is making noises prior to a clampdown on the payment of taxes. We say that because there was not enough clarity in his statement. It is going to be a provocative plan attracting much debate. Update on Philippines Online Gambling Ban,
During October new licences were granted to 35 Philipino online gambling firms, the licences are valid for one year and generate considerable revenue. It is not clear how these firms will be affected.
Gambling in the Philippines could be said to be out of control. It is no secret that President Duterte wants to crack down on gambling. In August he ended a 13 year monopoly for one gambling firm running licensed online gambling internet cafes.
The gambling industry in the Philippines must surely be concerned about the Presidents statement yesterday. During the past decade much money has been invested by online gambling companies who set up servers there. Billion of dollars have also been invested by foreign companies setting up casino resorts. No plans to curb casino gambling have been announced but it does raise the question.
Read more about gambling laws in other countries.
Read more about gambling laws in other Asian Countries: