A few weeks back, when we were all betting on Philippine politics, mainly who would win the 2022 PH President election, we didn’t consider how a new administration could affect the future of online sports betting in the Philippines.
Ferdinand Marcos Jr. was officially proclaimed the next President of the Philippines by a joint session of Congress in late May of 2022. His new administration will formally take control on June 30th, 2022.
PAGCOR
The Philippine Amusement and Gaming Corporation (PAGCOR) oversees all gambling endeavors in the Philippines. For sportsbooks to operate legally in the Philippines, they must obtain a license from PAGCOR.
The Philippine government created PAGCOR in 1975, and in their formative years, the government-owned the local casinos. Since then, PAGCOR has started issuing licenses to public owners but still controls what they can offer legally.
What To Expect
Well, a lot is still unknown as far as how the Marcos Jr. administration will oversee the gambling sector of the Philippines, but his father was a crucial part of forming PAGCOR during the Marcos family’s initial rule.
We know that Marcos will address the temporary gaming expansions, including online sports betting in the Philippines. Gaming expansions were allowed once COVID-19 shut down many in-person industries, including casinos and domestic sportsbooks.
Online sports betting from domestic sports betting services will likely stay in place, for the time being, given the revenue it produces, but once things return to normal, there is no telling what the administration will do.
Cockfighting
Marcos will also address the current state of cockfighting in the Philippines. Cockfighting is one of the country’s most popular forms of gambling, and cockpits are located all around the country. Current President Rodrigo Duterte halted cockfighting during the pandemic restrictions imposed on the country, but illegal cockfights have remained.
Online Sports betting
Online sports betting from offshore sportsbooks are legal under current gambling laws, and it is not likely that the new administration will try to change the current state. Online sports betting offers several advantages to Filipino players, given that most offshore sites accept Bitcoin or other popular cryptocurrencies. You can also find crypto or cash-based online sports welcome and reload bonuses.
In addition to expanded online sports gambling banking options and bonuses, you will also find more favorable odds online and more sports from around the world for which you can wager. Some of the most popular sports to bet on include boxing, horse racing, UFC, football, soccer, and more.
