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The Philippines has a booming online gambling industry. In the last decade, they have taken advantage of the popularity of digital payments and made it easier for Filipinos from all parts of the world to gamble at home. The Filipino market is projected to grow by 145% by 2022 with revenue reaching $1 billion. How does that compare to other countries? Learn more about the Philippines’ thriving online casino industry and what you can expect in the future.
The Philippine Online Casino Market
The Philippines has been one of the most successful Asian countries when it comes to online gambling. In the last decade, they have taken advantage of the popularity of digital payments and made it easier for Filipinos from all parts of the world to gamble at home.
Online casinos such as Jili are a booming market with many Filipino players who love to gamble on their favorite games. The Filipino market is projected to grow by 145% by 2022 with revenue reaching $1 billion.
That’s much more than other countries’ projections. In 2017, South Korea’s online casino industry was at $330 million and Japan’s was at $300 million. It would take a lot for them to catch up with the progress made by the Philippines in just a few years. But as online gambling gains popularity, you can expect other countries to follow suit and try to regulate this growing industry.
Regulations of the Online Casinos in the Philippines
There are strict regulations on online casino gambling in the Philippines. In order to operate, online casinos must be approved by the Philippine Amusement and Gaming Corporation (PAGCOR). They are also subject to annual inspections of their electronic and physical security measures. Online casinos may not operate for any land-based casino or hotel in the country and there is a $5,000 tax imposed for each game.
The Philippines has been experiencing rapid growth in the digital economy and thus an increase in internet usage. In fact, Filipinos spent $25 billion on mobile devices alone last year. The country is making strides to attract more investment by creating e-commerce environments that encourage digitalization and business development.
The Future of Philippine Online Casinos
In the last decade, many Filipinos have taken advantage of the popularity of the digital payment system and made it easier for Filipinos from all parts of the world to gamble at home. The Filipino market is projected to grow by 145% by 2022 with revenue reaching $1 billion.
Digital gaming and sports betting are becoming more popular in the Philippines. This is largely due to advanced mobile technology and an increase in internet access. As a result, there’s been a boom in online casinos as gambling becomes increasingly convenient and accessible.
