The Philippines Wants to Block E-Wallets for Purposes of Online Gambling

The Philippines may outlaw the use of e-wallets for online gambling if a lawmaker has his way. According to local media outlets, House of Representatives member Jonathan Keith Flores has said that these accounts allowed players to keep gambling beyond their means.

Lawmaker Argues E-Wallets May Be Adding to Problem Gambling

E-wallets create conditions in which players are prone to overspend and not really think about the consequences of their actions, Representative Flores said, citing specific payment solutions such as Maya and GCash.

The lawmaker did not imply that the e-wallets were responsible themselves, but rather explained that these payment options created the conditions that made it hard for players to stay on top of their digital and sports betting spending.

Presently, PAGCOR-licensed companies do accept e-wallet payments, and they can legally do so, as there is no specific law that prohibits the use of this payment method. Representative Flores is trying to change that, citing consumer protection concerns.

Representative Flores had this to say, motivating his decision: “From the e-wallet itself, there is a list of games. It’s so convenient for someone with an e-wallet to load or top up to continue playing online gambling. So, people are more motivated to gamble more.”

Gambling Ads May Be the Next to Go

One of the issues highlighted by the lawmaker is that some digital wallets may extend credit, which is then used to gamble and could land consumers in even bigger trouble to begin with. Representative Flores’ proposal also wants to address gambling advertisements and limit their reach to protect consumers.

Having e-wallets and fintech companies out of gambling platforms could boost consumer protection, Representative Flores’ core message is.