The Central Bank of the Philippines (BSP) issued an emergency directive on Thursday, requiring all electronic wallet platforms nationwide to completely remove icons and links associated with online gambling sites within 48 hours, including major platforms such as GCash, Maya, etc. This measure aims to directly combat the increasingly rampant online gambling activities through financial regulatory means and cut off illegal fund flows.
BSP Deputy Governor Mamerto Tangonan announced the order at the Senate Committee on Games and Amusement hearing, emphasizing that electronic wallet platforms must complete the disconnection operation by this Sunday.
At the hearing, committee chair Erwin Tulfo sternly warned that if electronic wallet platforms are still found to be connected to online gambling sites by the deadline, officials responsible will be prosecuted for contempt of court. He bluntly stated, "Do not underestimate this committee. We are facing a crisis, and if there are still games by Sunday morning, we will hold accountable according to the law."
In response to some legislators questioning why it takes 48 hours to implement, Tangonan explained that this time window is to allow regulatory agencies to orderly delete in-app links and icons, while giving players time to withdraw funds from their accounts to prevent sudden disconnections from affecting user interests. However, several legislators, including Joel Villanueva, believe that 48 hours is too long and unacceptable when public safety is threatened.
This action is taken against the backdrop of calls from Congress for a total ban or strict regulation of online gambling nationwide. The Senate Committee on Games and Amusement, in conjunction with the Banking, Financial Institutions, Currency Committee, Youth Committee, Economic Affairs Committee, and Fundraising Committee, held a public hearing to scrutinize the impact of online gambling on Philippine society and economy. Tulfo, in his opening speech, stated that whether legal or not, licensed or not, online gambling is destroying the lives of Filipinos, "As long as online gambling exists, it will breed the next generation of addicts, debtors, and broken families. No amount of tax revenue can compensate for the loss of lives."
Furthermore, he criticized the Philippine Amusement and Gaming Corporation (PAGCOR) for continuing to issue licenses to online gambling platforms, saying that this exacerbates social problems. He questioned the effectiveness of the Department of Information and Communications Technology (DICT) in regulating, allowing online gambling platforms to operate freely. Senator Risa Hontiveros previously proposed a bill to ban access to online gambling through electronic wallets and super apps, while calling for PAGCOR and BSP to establish a unified regulatory framework to ensure effective regulation of online gambling.
Senator Juan Miguel Zubiri pointed out that the total gambling revenue (GGR) in the Philippines grew from 8 billion pesos in 2022 to 331.6 billion pesos in 2023, and is expected to reach 1357.1 billion pesos by 2024, with more than 1065.3 billion pesos already exceeded in the first half of 2025, showing an astonishing industry growth rate. He emphasized that the government has shut down 7000 unauthorized websites to prevent the spread of online gaming addiction.
Analysts believe that this emergency action by the BSP will not only have a direct impact on POGO and related online platforms but also put tremendous policy pressure on investors, payment platforms, and players. Financial institutions and electronic wallet operators must immediately strengthen compliance regulation, or they may face legal accountability. This move further highlights the Philippine government's determination to use payment regulation to combat illegal gambling, sounds the alarm for the national digital payment ecosystem's safety, and marks a firm and decisive step by the government in regulating online gambling.
