Guide
PAGCOR Tightens Rein on Philippine Gaming, Leaving Crypto Betting in Limbo
28 October 2026
PAGCOR, the Philippine regulator overseeing all games of chance and issuing licenses to gaming operators, has made a series of moves to tighten oversight of the local gaming industry, particularly as it accelerates its shift to digital venues. But for crypto enthusiasts, the regulatory picture for cryptocurrency betting in the Philippines remains hazy, as the agency has neither endorsed nor banned crypto outright.
In September 2023, PAGCOR publicly banned the use of credit cards and cryptocurrencies for betting as part of its "Responsible Gaming" safeguards. The move, which also included other curbs like delinking certain e-wallets and payment channels from online gambling, has prompted some softening in gaming revenues as operators and players recalibrate to the tougher regime.
Speaking at the time, PAGCOR Chairman Alejandro Tengco stressed that the changes were essential to improve traceability, reinforce anti-money laundering (AML) protections, and curb illicit financial activity. However, PAGCOR has not proposed a crypto-specific framework for casinos, leaving the legal status of crypto betting under-regulated but functionally prohibited for now.
Regulatory Pressure Builds
Regulatory pressure on the gaming industry has been building as PAGCOR implements stricter standards, particularly around AML/CFT - anti-money laundering and countering the financing of terrorism. The Philippine AML Supervision and Enforcement Department, or PASED, now conducts regular on-site inspections of casino operators to check AML/CFT compliance and performs off-site examinations by reviewing ML/TF Prevention Programs and other reports submitted by casinos.
Recently published risk assessments reveal the seriousness of money laundering and terrorism financing risks in the sector. PAGCOR's 2021-2023 Casino Sector Risk Assessment rates overall money laundering risks in the casino sector as "High", driven by cash intensity, high-value transactions, VIP and junket exposure, and uneven control implementation.
The same assessment ranks terrorism financing risk as "Medium-High", flagging casinos' vulnerability to funds that have already flowed through banks and other intermediaries before entering casino activity. As a result, PAGCOR's AML guidelines for casinos require strict customer due diligence, record-keeping, and detailed reporting on high-value bets and suspicious activity.
Illicit Activity Continues
Despite these strengthening controls, PAGCOR has warned that a crackdown on certain e-wallet platforms has led to an increase in unlicensed gambling. The regulator reported a 40% drop in its income after e-wallets cut links to gambling, and estimated that illegal online gambling sites now account for more than 60% of gambling websites accessed in the Philippines. In response, PAGCOR has announced plans to launch an AI-powered tool to better detect and block unauthorized gaming sites in real time.
PAGCOR has also pledged to enhance coordination with key agencies like the Department of Information and Communications Technology and the Cybercrime Investigation and Coordination Center to more effectively pursue illegal online gambling operations and the payment channels they use.
They expect this to aid responsible gaming by steering players towards legitimate, regulated sites. PAGCOR has laid out a Responsible Gaming Code of Practice for licensees, and promotes tools like a "PAGCOR Guarantee" website that enables players to verify which online gambling platforms are licensed.
In the longer term, the regulator has floated the idea of allowing cryptocurrency as a form of currency for gaming. But as PAGCOR aims to sustain progress on anti-money laundering, and with crypto not yet formally recognized as legal tender, cryptocurrencies face an uphill battle for mainstream acceptance in Philippine gaming. The regulator has not issued any formal rules or guidelines, leaving crypto's future as a casino bet in limbo.