Philippine Gambling Revenue Might Reach Pre-2020 Levels By 2026

The Philippines started rising rapidly in the gaming industry and had its best year in 2019. It was slowly establishing itself as a top Southeast Asia gambling capital next to Macau.

The country has more land-based casinos than Macau, and Metro Manila is the epicenter of the Philippine gambling life. Metro Manila has over 20 luxurious casino hotels and resorts, making it one of the top tourist destinations.

The law is permissive, and people can engage in casino games online and offline in multiple types of games. The Government assured safety for Philippine gamblers, so the offshore casinos must pay taxes and have special working permits to function inside the country.

The rising of the gambling sector after 2012

A large number of land-based first-class casino resorts attract high rollers from other Asian countries like China, Japan, and South Korea. Not only that, but tourism flourished because of them, and the country started to become a worldwide sensation for avid gamblers and curious tourists.

In 2015, all the casinos with resorts, hotels, and accommodations bought a 17% growth in the gambling industry and helped the country’s economy grow. The reported gambling gross revenue was 130 billion Pesos in the same year.

The decline and the sudden collapse of the gambling industry

After 2015, the industry expanded, and even offshore casinos became interested in the Philippines. Over 30 of the best online casinos request licensing from the Philippine Offshore Gaming Operators to be able to offer online casinos to local gamblers and tourists.

The COVID-19 Pandemic hit the Philippines hard in 2019. The tourism industry had to suffer, people lost their jobs, and casinos closed because of worldwide restrictions. Even though the online operators hired numerous people for office jobs, the pandemic made their existence more challenging.

2020 marks the lowest rate reached in the last eight years by the casino games industry. Enough people lost their jobs or had to work for a lower salary, and the whole market rapidly collapsed.

In 2022 the gambling industry started to recover

256 billion Pesos. But all this work was slashed by almost 70% by the end of 2020 when the revenue reached around 100 billion, even lower than in 2014.

As restrictions disappeared and tourists started to get the vaccines, the market rose to 113 billion in 2021. In the first quarter of this year, the data showed a sum of 39 billion Pesos. Unfortunately, the recovery takes more time, so the experts believe 2026 will be the next lucky jackpot year.

In 2026 land-based casinos would contribute more than 140 billion PHP, and the gambling revenue would surpass 256 billion pesos reaching a new high level.

The role of online casinos in the insurgence of revenues

Cross-border online casinos have contributed significantly to the surprising rise in the revenues of the gambling sector in the Philippines. They are a valid option for gamblers when they have to stay inside or don’t have the time to visit a land-based casino. These offered an alternative when the tourist gamblers and the Philippine workers needed it the most.

Online gambling establishments pay important permit taxes to function in the Philippines legally. Not only that, but the operators also took more than 700,000 square meters of office space and created numerous jobs for locals.

Games of luck are popular, and there is no doubt about it. Since online gambling websites offer players numerous incentives, including free spins on spins or bonus money to use on games, it is no surprise that individuals passionate about gambling would invest in this sector.

Technology holds the power of the future

The gambling and gaming market is one of the most technologically advanced. Online gambling establishments started using cryptocurrency as a payment method and are now seeking new changes.

You can spot AI, AR and VR incorporated into casino mechanics to enjoy top-quality casino content and experience. The Philippine gambling revenue might surpass the numbers the experts deducted if this technology is accepted and used by gamblers.

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