Maybank Highlights Risks of a Nationwide Online Gambling Ban in the Philippines
Maybank’s Perspective on Online Gambling Prohibition in the Philippines
Maybank, one of the country’s largest financial institutions, recently shared insights regarding the possible consequences of a total ban on online gambling in the Philippines. The bank emphasized the impact such a measure would have on the nation, local operators, and the broader business environment.
Current Situation and Political Considerations on E-Games
The bank adopted a practical viewpoint, focusing on factual developments. It pointed out that the escalating political interest in regulating online gambling makes a complete ban a real possibility. Philippine President Bongbong Marcos is reportedly deliberating on this sensitive issue.
Financial analyst Raffy Mendoza forecasted that a decision on the ban might be announced imminently, even as soon as June 28. Mendoza noted the Philippines’ history of political populism influencing policy decisions, drawing comparisons with previous actions taken against eSabong and Philippine Offshore Gaming Operators (POGOs).
Interestingly, public sentiment mostly opposes a blanket ban on online gambling. Surveys suggest that only about 18% of Filipinos support such an action. Experts warn that prohibiting online gambling does not eradicate it but likely drives the activity underground, reducing transparency and regulatory oversight.
Mendoza echoed this viewpoint, stating that although concrete data on the harmful effects of eGames in the Philippines remains limited, the political momentum mimics past instances where popular online wagering practices were abruptly curtailed.
The proposed ban primarily targets the eGames sector, which operates under PAGCOR—the government-regulated entity. This industry demonstrated strong growth, expanding by 27% in the first quarter of 2025, reflecting its rising economic significance.
Maybank suggests regulatory adjustments should prioritize strengthened supervision and control rather than an outright prohibition. The bank also described the negative impacts of eGames as “opaque,” indicating a lack of definitive evidence proving substantial societal harm.
Balancing Economic Interests and Ethical Concerns
The debate around eGames involves influential stakeholders. The Catholic Church in the Philippines staunchly opposes online gambling on moral and ethical grounds and argues that the economic drawbacks overshadow potential benefits.
Conversely, representatives from the gambling industry urge recognition of practical realities. They warn that banning eGames could lead to the loss of approximately 50,000 jobs and missed economic opportunities. Furthermore, they emphasize potential setbacks for technological innovation and talent development within the country.