Philippines to issue new offshore online betting licenses

The Philippine Amusement and Gaming Corporation (PAGCOR) is to introduce a new category of offshore licence for operators intending to offer online sports betting in the country.

In a statement on its website, PAGCOR said that the licence will cover wagering across horse and dog racing, but will not be limited to these types of events.

The licence also enables approved operators to provide visual and live feeds of regulated sports events to punters in the Philippines.

Betting operators that obtain a licence will be subject to a 1.5% tax rate on gross gaming revenue, with funds to be paid to PAGCOR on a monthly basis.

However, operators that apply for a licence must be paying fees or taxes for the rights to stream events and offer betting pools to the relevant governing bodies.

The move comes despite Philippines President Rodrigo Duterte announcing in December his intention to outlaw online gambling in the country.

Related article: Philippines President vows to ban online gambling