The Bangko Sentral Pilipinas (BSP) has proposed new regulations aimed at curbing the use of digital payment platforms for online gambling activities.
These proposals include implementing a daily cap on fund transfers for bettors and intensifying due diligence requirements for e-games operators. Additionally, BSP is currently seeking input from stakeholders regarding draft rules that would further regulate online gambling transactions among payment service providers.
Further details of the proposed regulatory measures
As reported by Business Inquirer, the BSP plans to mandate that payment service providers establish a limited daily time frame, not exceeding six hours, for processing online gambling transactions. Providers will also need to set usage thresholds; once these are exceeded, users must undergo a 24-hour cooling off period before any further transactions can be made.
To enhance awareness among users, mandatory pop-up alerts will be introduced to warn of the risks associated with excessive gambling and encourage responsible behavior. Moreover, financial institutions will be required to disable access to all lending options for individuals linked to online gambling accounts.
Digital payment companies are not permitted to display online gambling advertisements unless users have explicitly consented to receive them, and employees of financial entities are restricted from participating in such activities.
The BSP is awaiting feedback until July 25, 2025, as it addresses concerns raised by Church leaders and lawmakers regarding the potential for addiction and financial ruin associated with increased accessibility to e-gambling.
Any payment operators engaging in online gambling services will require prior authorization from the BSP upon approval of these regulations. Such entities must also meet stringent capitalization requirements, including a minimum capital base of USD 5 million (PHP 300 million). They are expected to maintain robust anti-money laundering and fraud prevention systems.
Violation of these rules could result in monetary penalties up to USD 17.696 (PHP 1 million) per transactional offense, alongside potential revocation of permits for partnering with online gaming firms and suspension of their access to the country’s payments settlement system.
