With all the issues surrounding the lack of regulation for online gambling, the BSP has finally responded with a statement.
In its statement, the BSP said that they will issue a circular “meant to protect users of digital platforms from risks associated with online gambling”. As of writing the statement, the BSP has circulated the draft of the document awaiting feedback from stakeholders.
“The circular would seek to require BSP-supervised institutions (BSI), primarily banks and electronic money issuers, to better protect users of their digital platforms from these risks,” the BSP said in its statement.
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Prior to this, the BSP has been active in regulating gambling: in 2021, it issued a directive prohibiting regulated entities from dealing with unlicensed gambling operators, and in 2022 the BSP ordered eWallets and BSIs to remove links to electronic sabong from their operations.
There’s an urgent call to regulate online gambling because of how it is very accessible to everyone. It is also alarming to see that advertising spend for online gambling has tripled in the first quarter of 2025 compared to the same period last year based on a study conducted by Kantar Media. This does not include advertising in social media and billboards, and celebrities and influencers promoting online gambling.
Senator Win Gatchalian proposed stiffer regulations for online gambling, while Senators Pia and Alan Peter Cayetano are looking at a more aggressive approach to ban online gambling in the Philippines.
