Altenar explains how Online gambling is driving Philippine growth

Altenar is a licensed exhibitor at the summit as the Asian betting industry comes together to discuss a variety of topics, including the shift towards online gambling in the Philippines.

Gross Gambling Revenue (GGR) data released by Philippine gambling regulator PAGCOR in April showed a move away from land-based gambling as online gambling in the country grew at a rapid rate.

The country’s gaming industry posted a record GGR of 372.3 billion pesos (€1.84 billion) last year, an increase of 30.5% on the figures for 2023. Online GGR, defined as ‘E-Games and E-Bingo’ by PAGCOR, increased by 165.7% to 154.5 billion pesos and now accounts for 41.5% of the total GGR in the Philippines.

The GGR data for 2024 suggests a positive outlook for online gambling in the country, helped by a reduction in fee rates from 35% to 30% in January in a bid to combat illegal online gambling and attracting more licensed operators.

Accredited gaming service providers increased from 49 in 2023 to 174 in 2024 while there was a 13.57% increase in licences issued for land-based and online gaming.

When announcing the reduction in fee rates, PAGCOR chairman and CEO Alejandro Tengco said: “By lowering our share rates, PAGCOR is creating a more favorable regulatory environment by encouraging unregistered online gaming operators to transition to the legal market.

“The gradual reduction of share rates has significantly contributed to the growth of the E-Games sector, which has become a key driver of the local gaming industry.”

On the increase in providers, he added: “We expect this trend to continue, and we are optimistic that the best is yet to come for the country’s E-Games sector.”

Altenar stands ready to assist operators looking to capitalise on this growing market with a blend of localised content and global expertise. Our high-performance technology, premium data feeds and Asian layout allow clients to provide a modern sportsbook solution suited to the demands of players in the region.