Maybank Warns Against Mass Online Gambling Ban

On Friday, Maybank, a popular financial institution locally and one of the largest, issued an opinion on what a complete ban on online gambling in the Philippines could mean for the country, local operators, and businesses.

Philippines on the Cups of Decision Regarding eGames

Maybank chose to pursue a more pragmatic approach, focusing on the known facts. The bank cited the growing political interest in the issue as one of the reasons why a complete ban is plausible, with the President, Bongbong Marcos, weighing up a decision.

Analyst Raffy Mendoza outlined what could happen over the coming days and weeks, suggesting that a decision could be reached as early as today, Monday, June 28. Mendoza cautioned that the country is known to give in to political populism, drawing parallels with eSabong and POGOs.

However, the popular opinion is actually against a ban. The larger majority of Filipinos are not opposed to online gambling, and only 18% or so find it to merit a blanket ban. Observers have repeatedly cautioned that a ban on online gambling does not simply eliminate the gambling that goes on.

Rather, it pushes revenue streams into obscurity. Mendoza seems to agree, arguing a similar point: “While data regarding the negative impact of eGames in the Philippines remains opaque, it is still plausible that online gambling may be banned as the political noise is reminiscent of how eSabong and POGOs were dealt with.”

The ban specifically seeks to uproot the eGames industry, which is operated under the PAGCOR’s umbrella, the country’s licensed regulatory body. The sector grew by 27% in Q1 2025, indicating the financial momentum gained by this sector.

Maybank similarly recommended that any approach towards changes in the eGames framework should focus on tighter control and oversight rather than on outright ban or prohibition.

The bank also called the exact negative impact of the sector in the Philippines “opaque,” meaning that there was sufficient evidence to bear out the claim that eGames were indeed doing more harm than good.

The Economy versus the Church: Is There a Solution?

Powerful interests have also been at play in the matter of eGames in the Philippines. The Catholic Church of the Philippines has opposed online gambling on moral and ethical grounds, as well as arguing that the negative economic impact far outweighs any gains.

However, industry representatives have similarly called for acknowledging the realities on the ground. For starters, banning eGames could result in the loss of 50,000 jobs as well as unrealized economic opportunity, a group of industry observers said, as well as loss of talent and innovation in the tech sector.