BSP Proposes Stricter Online Gambling Payment Rules in the Philippines

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The Bangko Sentral ng Pilipinas (BSP)—the central bank of the Philippines—has released a draft circular recommending tighter controls on digital payments for licensed online gambling platforms. 

In the circular, the BSP says it aims to “mitigate the social and financial risks associated with online gambling” as public concern escalates over associated social harms. This development follows a wave of crackdowns on online gambling in the country. In July 2024, the Philippines banned offshore gaming operators known as POGOs, and President Ferdinand Marcos Jr is now considering a “sin tax” on the industry. 

The draft, issued for stakeholder comment, requires payment service providers (PSPs) to implement new restrictions before processing gambling transactions. 

Under the new framework, users must transfer funds into a dedicated “online gambling transaction account” (OGTA), capped at 20% of their average daily balance and limited to six hours of use per day. Exceeding volume thresholds triggers a mandatory 24‑hour cooling‑off period. PSPs must also enforce user biometric identity checks and allow gamblers to set personal time and spending limits.

Gambling platform operators will face stricter onboarding and monitoring requirements, including full licensing, beneficial‑ownership transparency, and AML compliance. Non‑compliant PSPs could risk fines of up to PHP 1 million ($17,520) per violation and possible suspension.

The circular marks a continuing shift in the Philippines’ iGaming and digital finance landscape, prioritizing consumer protections amid calls for more stringent online gambling oversight.