Try GOLD - Free
Doubts raised about proposed BSP curbs on online gambling
Business World Philippines
|July 21, 2025
THE proposed rules floated by the Bangko Sentral ng Pilipinas (BSP) to regulate the participation of payments services in online gambling are unlikely to change problematic behavior among gamblers, according to a senior lawyer.
Geronimo Law founder and Managing Lawyer Russell Stanley Q. Geronimo said in a commentary that some of the institutional compliance provisions of the BSP circular "while necessary, are unlikely to change or curb harmful gambling behavior among vulnerable users or alter the supply-side conditions that enable it."
The BSP recently released a draft circular to regulate the payments side of online gambling to deter the misuse of financial services.
The booming gaming industry in the Philippines is now drawing heightened scrutiny amid concerns over rising addiction and financial problems.
The Department of Finance (DoF) has proposed a tax on online gaming, as well as other possible measures to crimp the public's access to digital gambling platforms, such as imposing limits on cash-in.
This story is from the July 21, 2025 edition of Business World Philippines.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Business World Philippines
Business World Philippines
Local shares extend climb on BSP easing hopes
LOCAL SHARES closed higher on Monday on expectations of further monetary easing from the Bangko Sentral ng Pilipinas (BSP) amid dismal growth prospects.
2 mins
December 16, 2025
Business World Philippines
Quantifying the economic fallout of the corruption scandal
MY CUP OF LIBERTY BIENVENIDO S. OPLAS, JR.
3 mins
December 16, 2025
Business World Philippines
Dick Van Dyke credits his longevity to his positive outlook — and research says optimists live longer
Dick Van Dyke, the legendary American actor and comedian who starred in classics such as Mary Poppins and Chitty Chitty Bang Bang, turned 100 on Dec. 13.
3 mins
December 16, 2025
Business World Philippines
US backs Philippines after Chinese water cannon incident in S. China Sea
THE US on Monday voiced support for the Philippines amid rising tensions with China in the South China Sea, condemning what it called Beijing’s increasingly coercive behavior after Chinese coast guard vessels injured Filipino fishermen in a Dec. 12 confrontation.
3 mins
December 16, 2025
Business World Philippines
Gold up on softer dollar; markets eye US job data
GOLD extended gains on Monday, supported by a weaker dollar and softer US Treasury yields, as investors looked ahead to key US job data for clues on the US Federal Reserve's policy path, while silver steadied after a recordbreaking run last week.
1 min
December 16, 2025
Business World Philippines
Filipinas stun Thailand via penalties to advance in SEAG football finals
They've produced stuff of legends in the global and Continental stage.
1 mins
December 16, 2025
Business World Philippines
Ghosts we have to face: An introduction to the trilogy
THE PHILIPPINES is haunted not by spirits, but by the ghosts of warnings ignored and promises broken.
4 mins
December 16, 2025
Business World Philippines
Bicameral budget talks hit deadlock on DPWH funding
THE SENATE and House of Representatives canceled Monday’s scheduled bicameral conference committee meeting after lawmakers deadlocked over whether to restore funding for the Department of Public Works and Highways (DPWH) in the proposed P6.793-trillion national budget for 2026, amid lingering concerns over corruption in flood control projects.
2 mins
December 16, 2025
Business World Philippines
Meralco seeks bids for 200-MW renewable energy supply
MANILA ELECTRIC CO. (Meralco) has launched a competitive selection process (CSP) to procure 200 megawatts (MW) of baseload renewable energy (RE) to comply with its renewable portfolio standards (RPS) obligations, the company said on Monday.
1 mins
December 16, 2025
Business World Philippines
Deutsche Bank sees 25-bp cut in Feb.
THE BANGKO SENTRAL ng Pilipinas (BSP) might deliver a sixth straight rate cut at its first policy meeting next year as weak domestic and external economic prospects could drag growth, Deutsche Bank Research said.
2 mins
December 16, 2025
Listen
Translate
Change font size