DEPDev backs push for online gambling ban

The Philippines’ economic planning department on Wednesday said a total ban on online gambling would likely have minimal impact on the economy, as it backed moves to either shutter or tightly regulate the industry that has come under close scrutiny due to its social impact.

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The Development of Economy, Planning and Development (DEPDev) estimates that the electronic gaming industry contributed P81.6 billion or 0.37% to real gross domestic product last year, according to a copy of its position paper submitted to a House of Representatives committee and obtained by Business World.

“Given its minimal contribution to the economy and vis-à-vis the significant social cost, we do support either its complete prohibition or stricter regulation,” Socioeconomic Planning Director Desiree Joy O. Narvaez told lawmakers at a congressional hearing.