Manila: Senator Alan Peter Cayetano has called on e-wallet companies to actively prevent their platforms from being used for online gambling transactions. As the popularity of online gambling continues to rise, Cayetano emphasized the responsibility of financial technology firms to curb this trend, which he noted primarily benefits the operators.
According to Philippines News Agency, Cayetano made his appeal during a Facebook live session, urging e-wallet companies to contribute positively to the nation by blocking gambling transactions. He pointed out that these companies are making substantial profits and have the capacity to implement self-regulation. Cayetano advocated for immediate action from these firms rather than waiting for official guidelines. He is also supporting the proposed Anti-Online Gambling Advertisement Act of 2025, which aims to ban gambling promotions across all media platforms. This proposal complements the Ban on Online Gambling Act, co-authored by his sister, Senator Pia Cayetano.
In addition to advocating for the regulation of e-wallet transactions, Cayetano pledged to utilize the Senate's oversight and Blue Ribbon Committee powers to ensure the integrity of anti-gambling measures. He emphasized the importance of maintaining stringent safeguards against gambling.
Senator Risa Hontiveros has also taken steps towards regulating online gambling by proposing a bill that would prohibit individuals under 21 years of age from accessing online gambling platforms. This bill also seeks to ban advertisements for such activities in public spaces, traditional media, and social media. Hontiveros highlighted the severe impact of e-gambling on many citizens, noting that the ease of access through e-wallets has led many into significant debt, and in some cases, has had tragic consequences.
Hontiveros' proposal includes a requirement for the Philippine Amusement and Gaming Corp. (PAGCOR) to set betting and loss limits, which would trigger a suspension of gaming accounts for at least 30 days. Furthermore, she proposed a minimum 10 percent tax on gross online gambling revenues to support initiatives such as addiction treatment and rehabilitation, public education campaigns, enforcement programs, and policy research and evaluation.
