The Philippines has long been involved in global trade and is now a global manufacturing hub due to its strategic location. Therefore, the Philippines’ economy is developing rapidly and is promising for the development of the gambling business. The Gaming Sector in the Philippines is one of the sources of revenue of the country. The country has two areas for gambling purposes.
The first gambling area is the majority of the country, in which gambling activities are strictly regulated by the Philippine Amusement and Gaming Corporation (PAGCOR). PAGCOR controls all betting outlets and land-based gambling establishments in the country.
The residents of the Philippines are allowed to gamble at approved PAGCOR land-based casinos and online platforms for some types of gambling. Locals are also allowed to visit PAGCOR betting terminals and play online gambling activities at offshore casinos.
The second gambling area in the Philippines is Cagayan. There are completely different laws regarding the regulation of the gambling business. The gambling activities are controlled by Cagayan Economic Zone Authority.
Firstly, some kinds of gambling activities are allowed for tourists only. Secondly, operators can get gambling licenses only under this jurisdiction.
Control over the licensing process and the activities of licensees carried out by PAGCOR. Then, operators must pay an annual fee of $60,000 to renew the license. In addition, the software must comply with the requirements of the jurisdiction.