Key Moments:
- PAGCOR reported a 49 percent decline in income over two months after e-wallet providers were ordered to sever direct links with online gambling sites.
- Projections for PAGCOR’s 2025 full-year income have fallen below the previously estimated Php60 billion due to earnings declines that began in August 2025.
- Additional regulations, including a Php 500 minimum deposit and proposed betting caps, have further influenced player activity and revenue.
Steep Drop in Earnings Linked to E-Wallet Regulations
The Philippine Amusement and Gaming Corporation (PAGCOR) has experienced a dramatic 49 percent reduction in income during the two months following a mandate from the central bank that forced e-wallet providers to remove their direct connections to online gambling platforms. This financial downturn was highlighted in a recent hearing of the House Committee on Games and Amusements, where Jessa Fernandez, Assistant Vice President of PAGCOR’s Offshore Gaming Licensing Department, discussed the disparity between earlier revenue forecasts and the agency’s current financial outlook.
According to PAGCOR, they experienced a “sharp decline” in income of up to 49% starting August.
Some of the main factors contributing to this include the delinking of platforms from e-wallets and a slight decline in new players. | via @agathamgregorio pic.twitter.com/RlMc32TzuI
— ABS-CBN News (@ABSCBNNews) October 22, 2025
Revised Outlook for 2025 Income
Fernandez stated that PAGCOR had originally anticipated bringing in approximately Php60 billion (US$1.03 billion) in the first half of the year. However, earnings began to fall sharply in August 2025. This 49 percent drop has forced a downward revision in PAGCOR’s expectations for its total 2025 income, which is now anticipated to come in below the initial Php60 billion estimate.
Minimum Deposit Policy Changes Player Behavior
The recent implementation of a minimum deposit requirement of Php 500 (about US$8.50) for legal online gaming platforms has also been linked to decreased player participation. According to Fernandez, this new stipulation has deterred many users who previously made smaller deposits – frequently between Php 100 and Php 500 – from playing on authorized platforms. She remarked, “Now that we are implementing an initial minimum deposit, we have also felt more players or patrons are refusing to continue playing with legal online gaming operators. So, I think it will have an impact because some of the players deposit or top up within Php100 to Php500.”
National Funding Impacts and Government Allocations
PAGCOR’s reduced revenues have significant consequences due to its legal obligation to remit half of its earnings to the National Treasury, supporting a variety of nation-building initiatives. Of these remittances, half is allocated to PhilHealth for the Universal Health Care Program. The agency also distributes further funds to other government departments and social-civic projects, emphasizing the broader national impact of its declining income.
Upcoming and Existing Regulatory Measures
The Bangko Sentral ng Pilipinas (BSP) has indicated intentions to introduce even tighter regulations on online casino activity. Proposed measures may include a limit capping bet amounts to 20 percent of the previous day’s account balance, as well as a six-hour delay before users can reload their gaming accounts.
Ongoing Crackdown on Illegal Gambling Activities
PAGCOR has reported that since September 2022, the National Telecommunications Commission (NTC) has blocked more than 12,562 illegal gambling websites, covering 93 percent of those identified by PAGCOR. Additionally, the Philippine National Police Anti-Cybercrime Group has carried out 12 operations since January 2023, resulting in 163 arrests, as part of continuing efforts to combat illicit online gambling operations.
Income, Regulation, and Enforcement Snapshot
| Item | Details |
|---|---|
| Drop in PAGCOR Income | 49% over two months after e-wallet link removal |
| Initial 2025 Income Estimate | Php60 billion (US$1.03 billion) |
| Minimum Deposit Requirement | Php 500 (approx. US$8.50) |
| Illegal Gambling Websites Blocked | 12,562 since September 2022 |
| Arrests from Anti-Cybercrime Operations | 163 since January 2023 |
- Author
Daniel Williams
