From Manila to Mindanao, the Philippine iGaming revolution unfolds in Asia

Altenar’s forthcoming attendance at SiGMA Asia 2024 in Manila provides a timely opportunity to revisit the country that is fast emerging as the new epicentre for iGaming in Asia.

The Philippines has embraced online betting due to its potential to significantly contribute to the country’s economy, not just in direct annual revenue but for the broader benefits of enhancing technology and tourism industries.?

With a focus on foreign investment, a favourable regulatory environment and a willingness to adopt new technologies, the growth rate for online sports betting is expected to reach around 4.5% annually over the coming years.

But that’s not the only reason to be optimistic about the future of iGaming in the Philippines. Its cultural affinity for gaming combined with its strategic location further enhances its appeal, offering a gateway to a vast and growing audience open to new digital betting experiences.

Regulatory Terrain

Gambling has been a popular pastime in the Philippines for centuries, though the establishment of the Philippine Amusement and Gaming Corporation (PAGCOR) in 1976 to oversee gambling activities has shaped the modern-day landscape.?

The digital transformation of the Philippine gambling sector began in earnest in 2016 when POGOs (Philippine Offshore Gaming Operators) was created to regulate and license offshore gambling entities. This initiative aimed to bolster state revenues, enhance regulatory oversight and position the Philippines as a significant player in the global online gambling market.

Today, the Philippines has become a focal point for international gaming operators. POGO licences are recognised globally, allowing operators to impact worldwide markets, particularly in the Asia-Pacific region. Significantly, POGOs gaming licences cater only to international customers, since protective measures prohibit local participation in online gambling activities.

Infrastructure and Technology

The government’s supportive regulatory stance promotes a proactive approach to technical innovation. Policies that encourage innovation allow iGaming operators to deploy online services to further advance the iGaming sector.?

Substantial investments have also been made to improve the nation's digital infrastructure, aiming to boost internet speed and reliability. The rise of mobile gaming has also seen significant advancements in recent years, supported by widespread mobile usage and a tech-savvy population.

Asia Country Comparison

Compared to other Asian countries, the Philippines stands out due to its regulatory clarity and openness towards international investment in the online gambling sector. Unlike tightly controlled jurisdictions such as Singapore and Japan, where gambling is heavily monitored, the flexibility of the Philippine market attracts the attention of a diverse array of iGaming businesses.?

Meanwhile, other Asian regions like Macau, often considered the gambling mecca of Asia, remain focused on land-based gambling activities, while some are only now warming up to the idea of online gambling. With experience spanning decades, the Philippines has few rivals in the online gambling space in Asia.?

Moreover, evolving policies and practices around iGaming in the Philippines are advanced and forward-thinking compared with more restrictive markets in the region, providing opportunities for further growth and innovation.

Diversity and Opportunity

The Philippines offers a rich diversity of online gambling opportunities, which encompasses international sports alongside digital versions of traditional Filipino games. Chief among them is basketball, boxing and cock fighting (sabong), which has a long tradition in the country.?

Horse racing remains popular, with frequent races held at major tracks. Presently, the industry also provides promising opportunities for growth in eSports betting, which is gaining popularity in the Philippines and globally.?

This blend of local and international betting options creates a vibrant online gambling ecosystem that is attractive to both domestic and foreign players. For operators, incentives include tax breaks and streamlined licensing processes, making it easier for foreign iGaming investors to set up operations. Moving forward, legislative developments aimed at better regulation of online gambling could also open up new investment opportunities by creating a more secure environment for players and operators alike.

Book a meeting

SiGMA Asia 2024 offers Altenar the chance to demonstrate our range of flexible and scalable iGaming solutions tailored to the evolving Asian iGaming market.?

Come and meet with us at the largest gaming show in Asia, and learn how to make an immediate impact in 2024.