Online gamblers shift to unregulated sites after BSP e-wallet ban

Following the Bangko Sentral ng Pilipinas' (BSP) directive for e-wallets to cut ties with in-app online gambling platforms, gamblers have simply migrated to unregulated gambling sites, a study found.

- By DERCO ROSAL

Results from The Fourth Wall, a sociocultural research and analysis firm based in Manila, showed that regulated online gambling platforms saw a 70-percent decline in players, while unregulated sites recorded a 40-percent increase after the directive was issued last week.

"Trends suggest that these unregulated platforms will continue expanding, drawing in players who exit regulated channels," The Fourth Wall said in an Aug. 20 report, banking on the correlation it has found between unlinking of e-wallets and gambling platforms.

"Dependence on e-wallets also drives migration to unregulated platforms where their preferred payment option remains available," the research firm added.

Further, gamblers who rely on ewallets are twice as likely to move to unregulated platforms (40 percent) compared to those who do not (19 percent) when e-wallets are removed from regulated sites.