The Bangko Sentral ng Pilipinas (BSP) has directed electronic wallet platforms to remove links to online gambling sites within 48 hours, citing concerns over the growing prevalence of the vice.
BSP Deputy Governor Mamerto Tangonan issued the order during a Senate Games and Amusement Committee hearing on August 14.
Explaining the two-day deadline, Tangonan said the timeframe was meant to give all platforms enough time to take down the gambling links and inform the public. He said the links are expected to be inaccessible by Sunday morning.
“We will also sanction the concerned (e-wallet platforms),” Tangonan warned, stressing the central bank’s commitment to protecting consumers and preventing financial systems from being exploited for online gambling.
Earlier this year, the BSP released a draft circular regulating the digital marketplace operations of banks and electronic money issuers. The proposal includes a prohibition on offering products or services related to gambling activities such as online casinos, online betting, and electronic gaming.
In July, the Philippine Amusement and Gaming Corporation (PAGCOR) ordered the removal of gambling billboards and other outdoor advertisements by August 15.
The online gambling industry remains divisive among lawmakers. Senators Joel Villanueva, Migz Zubiri, Raffy Tulfo, and Pia Cayetano have called for an outright ban, while Senators Win Gatchalian and Risa Hontiveros favor tighter regulations.
PAGCOR Chairman and CEO Alejandro Tengco has expressed reservations over a total ban, noting the sector generated about ₱50 billion in 2024, with half of the revenue funding programs such as the Universal Health Care Act, the Philippine Health Insurance Corporation, the Philippine Sports Commission, and the Dangerous Drugs Board.
“If properly regulated, online gaming can be a major contributor to government services and economic development,” Tengco said in a July 8 interview on One News’s Storycon.
