Published on December 3rd, 2020 | by Guest0
Regulation of Online Sports Betting In The Philippines
Laws And Licenses Of Online Betting In The Philippines
Taking its name from the ancient king Philip, the Philippines; an island off the Pacific Ocean is a rapidly growing economy. One that is fast making its mark in the Asian continent. And as one of the most promising countries in southeast Asia, the service sector is one of the principal sectors responsible for driving this accelerated growth.
Sports betting is gaining ground in the country but what are the laws governing online sports betting in the Philippines?
Evelyn Balyton, our author, is a guest post expert at Mightytips Philippines. Well, the gaming sector as expected, has not been left behind in the wave of change rocking the east Asian country, as an activity that seeks to solely reward passion and also provide you with an outlet to channel your prediction powers; coupled with the increasing popularity of E-gaming as a result of the latest technological advancements. Business owners are keen on expanding their businesses; leaving Mightytips users with a myriad of options.
The investments in high tech equipment and rated infrastructure paints a vivid picture of intention. However, at this point, one needs to know about the laws and licenses surrounding online sports betting in the Philippines. Sports betting is still a major player in the country’s economy; but what are the regulations surrounding this activity. You need to have a sound knowledge of this, to know how you would work your way through the many meanders in this field.
How Is Online Betting Regulated?
To pursue your passion and follow your instincts in online sports betting in the Philippines is somewhat weird right now, due to the many regulations involved in the industry. The possible clash of the areas of operations between both public and private regulators. This was due to a statement released by the president in 2016, one that sent a message of an oncoming hard crackdown on stakeholders in the gaming industry.
As expected, investors were sizing up and preparing for the worst. However, in recent times, it seems the government position has softened, as it will allow online gambling provided there is an efficient means to tax their operations. The Philippines is such an attractive market for sports betting. The Philippine Amusement and Gaming Corporation (PAGCOR) operates all the physical stores for betting; while it has its influences cut short on online betting platforms.
What Are The Other Significant Laws Guiding Betting In The Philippines?
- The Presidential Decree No. 1067-a
- The Presidential Decree No. 1602 (1978)
- The Presidential Decree No. 1869 (1983)
- The Republic Act 7922 (1994): This law was a very significant one, as it established the free economic zone, which includes the neighbouring islands and the city of Freeport.
- The Republic Act 9287: These laws are more recent as both houses of the congress promulgated them.
- The Executive Order No. 13 (2017): This is also another fundamental law, as it specified any betting activity carried out without an operator’s licensing authority as illegal. This shaped the pattern of betting in the Asian country as we advance.
- The Republic Act (2017): This was the brainchild of the Philippine Anti-money laundering council, and it spelt out the requirements of the casinos and betting sites in the country.
- House Bill 8910: This law sought to eliminate online cockfighting. To strengthen the Amusement boards, reach on all the professional sports.
Other relevant regulations and orders regulating online gambling and sports betting in the country are available on Mightytips in the Philippines for punters to make informed choices.
List of sports that gamblers can legally bet on in the Philippines.
- Horse racing
- Martial Arts
- Virtual Sports
- Basketball, etcetera.
Top legal Bookmakers in the Philippines
Gambling is taken seriously in the Philippines. The country has recorded a huge profit from the gambling industry, which is up in billions of dollars. This contributes a large quota of their revenue. Here is a list of top legal bookmakers in the Philippines according to Mightytips.
- 22 Bet
22 Bet offers incredible odds and top sports such as hockey, tennis, basketball, etcetera. They also have live betting available.
Top gambling service from Intertops, which includes multiple bonuses. This is the best place to bet on soccer, tennis, esports, etcetera.
This sportsbook comes hard on live betting. You can bet on games and event while they are ongoing. They also have bonuses that are unique to each sport.
- Sports Betting
You find it easy to bet online when this sportsbook is your choice. You get multiple betting options, a wide range of sports and live betting.
BetOnline is known for its fantastic welcome bonus, and its famous refer a friend promo. This bookmaker is focused on its customers. They have a super-fast payout option.
These sports betting sites are rated based on certain outstanding features. The bonus they offer, how secured the sites is concerning details of its customers, types of bets, types of odds offered, customer supports, et cetera. For more information on online betting, filipino punters should subscribe to Mighty tips in the Philippines.
Finally, for the best deals and tips on how to make money online, the best tips from online bookmarkers, and everything to improve your standing in the world of online sports betting, then you are already in the best place.