Most Popular Bookies in Philippines

The country has also put in place a mechanism to protect its citizens from online sports betting scammers. All sports betting activities in the Philippines are monitored and controled by the Philippine Amusement and Gaming Corporation (PAGCOR).

This is a government-owned regulatory body tasked with the responsibility of remote license issuance and promoting responsible gambling.

Hence, any offshore sportsbook is allowed to operate in the Philippines as long as such a site meets all the requirements of PAGCOR. This comes as soothing news to Filipinos as they can rest assured they are betting at reputable sites. In a nutshell, betting in the Philippines is more popular than anyone would imagine.

Online betting is all about depositing funds, placing bets, and cashing out winnings, if any. That calls for a credible payment system that punters can trust. Like elsewhere, Filipino bettors have a wide range of options to deposit and cash out. Some of these methods are local, while others are renowned international payment systems used in hundreds of countries across the world.

Talking of the local payment methods in the Philippines, GCash is undoubtedly the most, with well over 45 million users. However, this payment method is not very popular when it comes to online betting, with only a couple of sportsbooks supporting it.

Alternatives to GCash

Some of the most popular alternatives to GCash include Neteller, Astropay, STICPAY, and Skrill. At least one or more of these methods are available at any Filipino betting site.

Thanks to their low fees, quick payments, and security features, these methods command a great reputation. Skrill, for instance, has been in operation for close to two decades. Standing such a test of time is something that deserves recognition.

Other alternatives include Mastercard and Visa. While many bookmakers may slowly be moving away from these payment methods, Visa and Mastercard are still among the most trusted payment methods anywhere. Thanks to their long-standing reputations, these two still give e-wallets and even Bitcoin a run for their money.

What started as a simple activity has now evolved into a multi-billion industry that brought together many stakeholders, including sports fans, bettors, bookmakers, and payment processors. As mentioned earlier, Filipinos now have a wide range of markets, and of course sports, to bet on.

This includes football, horse racing, tennis, boxing, rugby, athletics, golf, mixed martial arts, volleyball, and basketball, among other sports. Also, the number of Filipino-tailored sportsbooks has never been higher. One could easily count the number of sportsbooks operating in the Philippines in the past. With hundreds of online betting sites for Filipinos in existence today, it is a huge task to mention all the betting sites that accept Filipinos.

The many gambling sites create an environment where sport betting bonuses are indispensable. Rather than players jostling for betting sites, betting sites now compete for punters. That's where bonuses come in.

With each betting site wanting to create a client base to sustain its trade, bonuses are seen as the best strategy to wrestle punters from competitors. That's why bonuses seem to be all over the place in the Philippines' betting world.

The massive growth of the betting industry in the Philippines can be attributed to one thing: the internet.

As stated earlier, the betting industry in the Philippines is worth at least $6 billion. Such a big industry must indeed have a future. In recent years, the country has witnessed a surge in betting popularity never witnessed before. It is no surprise no the law betting laws in the country are on the side of bettors. Having said that, the big question is, what does the future hold for the Filipino betting industry?

Well, the future will perhaps be brighter than many people imagine. Here is what the future is projected to look like:

Use of Cryptocurrency

For many years, payment methods such as Visa, Mastercard, and e-wallets (Neteller, PayPal, etc.) have ruled the realms of sports betting in the Philippines. However, that would soon change thanks to cryptocurrencies, especially Bitcoin. This electronic currency is slowly gathering momentum, with a considerable percentage of sportsbooks already supporting it.

But cryptos come with perks that no bettor can ignore. They are safe and secure, and punters can bet anonymously. The fact that cryptos allow instant transactions is a big plus.

More Mobile-Tailored Gambling

In the future (and it's already happening now), sportsbooks will be optimized for mobile devices. In fact, many of them already have platforms designed exclusively for mobile punters.

As this post mentioned earlier, betting was legalized in the Philippines in 1975, the same year PAGCOR was established. All domestic gambling platforms in the Philippines are monitored and regulated by PAGCOR, a state-owned regulatory body.

Offshore gambling platforms are licensed by international bodies, such as the UK Gambling Commission. Hence, betting platforms and betting, in general, are considered legal in the lenses of the Filipino authorities.

It is worthy of mentioning that punters in the Philippines are required to pay taxes on their winnings. The tax amount depends on how much money a punter wins. However, a standard flat tax is imposed on all winnings above PhP 10,000- 20%. All bookmakers in the country have a responsibility to withhold and remit these taxes to the government.

This works especially for locally owned sportsbooks. As for international bookmakers, this can be a challenge since they can decide not to withhold taxes because they are not bound by the Filipino gambling laws. Thankfully, any reputable bookmaker would remit taxes without any push and pull.

Is Sports Betting Legal in the Philippines?

The answer is yes and no. In the Cagayan region, only foreigners are allowed to legally bet online, while the citizens are prohibited. That said, the citizens in all other Filipino regions are legally allowed to gamble as long as such activity meets the requirements and regulations of PAGCOR.

However, they can only gamble at PAGCOR accredited joints rather than their homes. Those who want to bet from the comfort of their homes can do so at licensed offshore sportsbooks.

What Are Some of the Most Popular Sports to Bet on in the Philippines?

The most popular sports for betting in the Philippines include football, rugby, horse racing, tennis, cricket, basketball, and baseball, among other sports.

What Payment Methods Are Popular in at Filipino Sportsbooks?

The most popular payment methods used in the Filipino betting industry include GCash and e-wallets such as Skrill, Neteller, and Astropay. Mastercards and Visa are also an option.

Are Winnings Taxable?

Yes. All punters in the Philippines are required to pay taxes on their winnings. While the tex varies with the winnings, all the winnings above PhP 10,000 attract a flat tax of 20 percent.

What is the Legal Gambling Age in the Philippines?

In the Cagayan region, the legal gambling age is 18. In the rest of the Philippines, Punters must be 21 years to gamble legally.