Just like in many other Asian countries, sports betting has seen a tremendous rise in popularity in the Philippines during the past few years. The country’s long gambling history originates from the Spanish colonial times, and nowadays, wagering has become a regular practice among the locals. If you are curious to learn more about the current state of sports betting in the Philippines and the conditions that lead to its growth, you will enjoy reading this guide.
Gambling Laws in the Country
In order to have a good understanding of the rise of sports wagering in the Philippines, you need to be aware of the laws and regulations that govern the market in the country. Gambling activities were legalized in 1975 thanks to former president Ferdinand Marcos who made it possible by signing the law Decree No. 1067., Nowadays, all online bookies that operate legally are controlled by PAGCOR – The Philippine Amusement and Gaming Corporation. PAGCOR is the leading regulatory body in the country which is in charge of monitoring both online and offline casinos, as well as issuing licensing required to operate according to the law. The main role of PAGCOR is to promote responsible gambling and to keep everyone involved safe and protected from fraudulent activities. When it comes to sports betting, there is no law that bans it in the Philipines, and the players are free to join different international platforms that are licensed and regulated by the world’s leading gambling commissions.
The Growth of Sports Betting
Sports betting, together with other types of gambling has been growing steadily for a while now, especially since 2017 when the gambling revenue of the country exceeded $1.6 billion. Thanks to the increased number of international operators established in the Philippines, the revenue continues to grow, and the entire sports betting industry is booming. As a result of such an expansion, local punters have a fantastic selection of sports betting sites to choose from, and since the competition on the market is greater than ever, the operators continue to compete with each other by offering attractive bonuses to new and existing members. The bettors can also explore a variety of different game categories that are popular in the country, including football, basketball, tennis, MMA, boxing, as well as eSports.
Common Types of Bonuses
As we already mentioned, there are many valuable bonuses that the bookies use to entice users to join them and stay engaged. And people seem to love such rewards and incentives for a better experience. As a result, people love looking for promo codes and bonuses, for all major operators, and a great site for such an opportunity is the Bets-PH, which offers advice for the most passionate players. Filipinos can easily find and get their 1XBet promotional code Philippines operator provides to claim for their sports betting or even casino endeavors, earning valuable rewards and helping them improve their gaming experience.
Additionally, the majority of the platforms use welcome bonuses which are reserved for new members, and most of the time they are structured as match deposit rewards where the user gets bonus cash that equals the amount of money they initially deposited.
On the other hand, there are reload bonuses where the users get freebies or cash rewards after reloading their accounts with funds. In addition to that, seasonal rewards are another common type of promotion, and as the name suggests, this type is tied to special events like the Super Bowl, or any other popular tournament.
The State of Mobile Betting
Thanks to the increased availability of affordable smartphones and the overall rise in demand for online sports betting, more and more bookies are offering mobile-friendly options for their members. Some bookmakers modified their websites to accommodate the needs of mobile device screens, while others have gone a step further by creating functional apps that users can download both on iOS and Android devices. The best apps out there are perfectly optimized for smartphones and other devices, supporting all the leading mobile networks and operating systems. The apps are also designed to provide a seamless wagering experience where you can easily manage the account, place bets, make transactions, watch live-event streams and even engage in live gambling.
The Currencies Supporter by Bookmakers
Even though there are some online bookies that accept the local Pesos, most operators limit their selection of currencies to more widely used ones like Euro, US Dollar, and British Pound. However, almost all the platforms that do not support the Pesos offer a simple process of currency conversion. On top of that, the players can make transactions using e-wallets that also support convenient conversion of the currencies.
Sports betting has been present in the Philippines for a long time, but it has never been more popular than nowadays. Thanks to the nation’s passion for gambling, the lenient gambling laws in the country, as well as the improved availability of smartphones among the locals, the wagering market has all it needs in order to continue to thrive in the following years.