Philippines Central Bank Proposes Limits on iGaming Payments and Daily Player Activity

The Philippines Central Bank is looking to clamp down on online gambling by tightening the rules around how people fund their bets. New proposals from the Bangko Sentral ng Pilipinas (BSP) aim to tackle the financial harm and social fallout caused by easy access to iGaming platforms.

Good to know

• BSP wants to limit digital payments used for online gambling and cap daily transfers by players.
• A sin tax on iGaming is under consideration by President Ferdinand Marcos Jr.
• The proposed rules would bar certain groups from gambling, including students and government workers.

Online gambling has become widely accessible in the Philippines, and with it has come a rise in addiction and financial strain among families. Reports from the Straits Times describe the boom as a double-edged sword, with fast growth creating real problems for vulnerable users.

In response, BSP has proposed a list of changes aimed at payment service providers (PSPs). These include tighter “know-your-customer” rules, capped fund transfers, and restrictions on gambling access for certain users. The goal, according to a draft circular, is to prevent digital platforms from being misused for harmful or risky behavior.

“To ensure a safe, efficient and reliable retail payment system … it is imperative to ensure that digital payment services of PSPs are not misused for activities that are socially harmful and detrimental to financial health,” the BSP wrote.

New rules target payment channels and player protection

Under the new proposal, PSPs would need explicit bank approval to support gambling transactions. To qualify, they must prove they have at least PHP300 million ($5.29 million) in capital, along with a board-level committee dedicated to compliance with anti-money laundering and counter-terrorism financing rules.

In addition to these standards, BSP also wants operators to submit regular reports outlining their gambling-related transactions and business partners. On the player side, new restrictions would include:

1. A six-hour maximum daily play limit.
2. A 24-hour “cooling-off” period triggered by heavy usage.
3. Age restrictions banning users under 21.
4. No gambling access for students, welfare recipients, military, police, and government workers.

While some lawmakers are calling for an outright ban on iGaming, the Philippine Amusement and Gaming Corp (PAGCOR) supports stricter ad regulations instead of a full shutdown. The debate has become more active since President Marcos banned offshore gambling operations in July last year. Now, he is reportedly weighing a sin tax on the online sector.

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