The Philippine Amusement and Gaming Corporation oversees and regulates the country’s gambling laws and regulations, which are among the most sophisticated in the world (PAGCOR). Did you know that the only nation in South East Asia to regulate online casinos is the Philippines? The only government agency in the Philippines with the power to decide on gaming licensing for both brick-and-mortar and online casinos is PAGCOR. The national budget of the government is strongly supported by PAGCOR. It gives back more than half of the money it makes to the national treasury, which it uses to support charitable causes, sports grants, and programs that combat drug and alcohol abuse. Additionally, funds that are still held by PAGCOR are used to support social needs like housing and employment. The fact that PAGCOR has been around for more than three decades is not widely known. Naturally, when it first began, its purview only applied to land-based casinos. The emergence of the internet and gambling websites is a relatively recent development, and department policies are constantly being updated to meet the needs of the nation. This is not shocking because technology has accelerated change in a world that was previously slow to change. PAGCOR’s profitability began to turn around in 2017, when gross income for the year surpassed a staggering P60 billion. The licensing of online casinos was most likely the source of the income. Unsurprisingly, PAGCOR online gambling has declined in 2020. According to PHILWeb/PAGCOR, casino profitability has decreased from its heydays before Covid-19 to P542 million.
Casinos that are governed and have a PAGCOR license
Online casinos can provide a selection of games because they are governed and licensed. These include games with a live dealer and RNG. RNG games include video poker, blackjack, roulette, and other classic casino games like baccarat, dragon tiger, and slots. These hosted game modes for live dealer games include wheel dealer and football fantasy. A host must spin the wheel, draw numbers, or throw the dice in these games. All online casino game formats are accepted by PAGCOR without limitations.
PAGCOR Online Casino’s Income Increases
Several factors have contributed to the recent increase in online casino revenue. First, advances in technology have made it possible to play fantastic games. Because of faster internet, live dealer streaming is now possible on desktop, laptop, and other mobile devices. RNG gaming has advanced to offer a satisfying, trouble-free, and creative experience. Digital payment methods have replaced cash-based ones.
Payment Methods
In the past, cash was the primary form of payment in the Philippines. Bank accounts were primarily used by big businesses; they were hardly ever used by the general public. Credit cards were scarce because they couldn’t be attached to a bank account because bank accounts weren’t being opened. With GCash and PayMaya, the Philippines has one of the most sophisticated (and widely used) digital payment systems available today. Players can now enjoy online casino games thanks to these two digital payment options that have made deposits and withdrawals simple, quick, and painless. Second, the expansion of the Philippine economy and that of its neighbors, including China, has given players joining the online casino trend a huge boost. China’s middle-class earnings have increased significantly in recent years, generating disposable income that is used for gaming and entertainment. Due to this, PAGCOR now licenses and oversees online casinos that let players from China play.
Internet Speed
The detail and quality of games can be significantly enhanced with the advent of 4G (and soon 5G) internet speeds for users. Because connecting to the game server is so quick, downloading mobile gaming apps is no longer necessary. In the past, a mobile app had to be downloaded to enable smooth, bug-free game play due to slow internet speeds. However, since connectivity has improved so much, it is now possible to play directly on a casino website. Additionally, HTML5 coding enables dynamic rendering of website layouts through any web browser. Because of this, mobile gaming apps are no longer necessary, as they previously had to be tailored specifically for each size of mobile device (a real challenge for game developers).
Online Casino PAGCOR Problems
Even though it is technically against the law for Chinese citizens to play at online casinos, PAGCOR has nonetheless legalized them. There has been tension between the two nations as a result of the push for a burgeoning online casino industry, particularly because the proportion of Chinese players has increased significantly.
Facebook Casino Scams Online
Other factors have sparked discussion about how online casinos should be regulated. The amount of fraud at PAGCOR has significantly increased. Scams are now more prevalent and are frequently promoted on social media, particularly Facebook. In order to stop fraudulent online casino activity, PAGCOR has asked Facebook to remove their ads and block their activity. Facebook receives advertising revenue from online casinos, so this is not a quick win. Therefore, ongoing conversations with the social media tycoon are required for this to change. Without a doubt, the majority of online casinos that advertise on Facebook are frauds. Due to their lack of reliability, do NOT play at online casinos through Facebook.
Players from China
Of course, the increase in Chinese players has also increased the number of Chinese dealers and other workers employed. Live dealer games make up the vast majority of online casino gaming. Chinese players adore using live dealers who stream the action to their player device. The demand for Mandarin-speaking dealers and/or hosts in live dealer casinos has resulted in numerous job opportunities for Chinese dealers. Chinese dealers are paid very well compared to what they could make in their home countries, but there are very few opportunities for career advancement. Chinese dealers must decide whether limiting their future opportunities is worth the short-term payoff.
Conclusion
The Filipino organization PAGCOR is in charge of policing and observing online casinos. It has been in operation for more than 30 years and generates income that directly supports social community initiatives as well as National Treasury funding. Players can feel safe and secure at online casinos that have received PAGCOR approval.
