The Bangko Sentral ng Pilipinas (BSP) and Akbayan Partylist are taking separate steps to address the growing risks of online gambling, which harm the well-being of many Filipinos, particularly those from lower-income groups.
In a statement, the BSP said it plans to issue a circular that would require BSP-supervised institutions (BSIs), such as banks and e-money issuers, to implement stronger safeguards for users of their digital platforms.
“Protection may come in the form of various limits to gaming access,” the BSP said. It added that the policy aligns with its agenda to promote financial health and consumer protection.
The central bank has already circulated a draft of the circular and is reviewing feedback from stakeholders to ensure a balance between protecting consumers and preserving access to digital payments for legitimate businesses.
The BSP has previously ordered regulated entities to stop dealing with unlicensed gambling operators in 2021 and to remove links to electronic cockfighting, or “e-sabong,” in 2022 after the government suspended all e-sabong operations.
For its part, Akbayan Partylist announced it will file a bill to impose stricter rules on online gambling. The bill proposes firm age restrictions, bans on using e-wallet services to fund bets, stronger age-verification systems, and penalties for operators who fail to enforce these measures.
The initiative comes after the Catholic Bishops’ Conference of the Philippines urged action against gambling addiction, particularly among the youth.
“In gambling, it’s not just chips or money at stake, but dreams,” Akbayan Rep. Chel Diokno said in a statement. “With every cash-in on an e-gambling app, families are torn apart, and young people are robbed of their future. They say ‘you win some, you lose some’ — but only the big gambling corporations win from the dreams others lost.”
Akbayan Rep. Perci Cendaña also criticized the rise of e-gambling advertisements on public billboards, saying they normalize gambling in society.
“Is gambling now considered a basic necessity? The billboards on Edsa no longer show food or clothes but e-gambling. No wonder wages meant for essential goods end up in gambling,” he said.
Akbayan said its lawmakers, along with experts and stakeholders, are finalizing the draft bill. Sen. Risa Hontiveros is expected to file a counterpart measure in the Senate.
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