PAGCOR to issue new offshore online licenses
PAGCOR has introduced a new class of gambling license for operators that provide betting on sports in markets regulated by foreign bodies.
Philippines.- The Philippine Amusement and Gaming Corporation (PAGCOR) has announced its plan to introduce a new type of online gambling license that will include operators that offer sports betting in markets regulated by foreign bodies. PAGCOR posted a release on its website that explains the new license for “Sportsbetting on Regulated Wagering Events.”
The new regulation applies to online operators that take bets on regulated sporting events and that provide their customers with live feeds of said events. PAGCOR explained that, in order to be subject of this “special class” of license, said events must be regulated by a foreign body.”
PAGCOR will collect 1.5 percent of future license holders’ monthly gross gaming revenue (GGR), in addition to all the regular fees that apply to current Philippine Offshore Gaming Operator (POGO) licensees.
The announcement of the new license comes shortly after the Asian Racing Federation announced the creation of an Anti-Illegal Betting Task Force to boost revenue at members nations’ (Philippines among them) race betting business by either reducing or banning international competitors. That’s why, despite the country’s update on its gambling market, the move has raised some eyebrows as it seems highly specific.
