In the Philippines, the state-run Philippine Amusement And Gaming Corporation gambling regulator has announced the establishment of a new offshore gaming license for firms offering online sportsbetting services.
Under the leadership of president Rodrigo Duterte, the past year has seen the gambling market in the Philippines undergo a wholesale revamp and last week’s launch of the new offshore gaming license follows April’s decision by the Asian Racing Federation to establish a task force charged with stamping out illegal betting while reducing competition from competitors licensed in non-member nations.
The new Philippines offshore gaming license is set cover any operator that “accepts and/or facilitates wagers on regulated gaming events” including horse and dog races along with those providing “live event audio and/or visual feeds of such regulated gaming events”.
“Issuance of this special class of sportsbetting license shall be limited to offshore gaming operators that are taxed or otherwise contractually required to pay a certain percentage of their gross gaming revenues for rights to live audio and/or visual feeds and/or betting pool access by that governing body or by content rights holders subject to the authority of such [a] governing body,” read a statement from the Philippine Amusement And Gaming Corporation.
In order to receive one of the new offshore gaming licences, firms must agree to pay a monthly 1.5% gross gaming revenues tax and assure that broadcast events are “regulated by a legitimate foreign governing body of the country where such [a] gaming event is being run, held or otherwise originates”. In addition, holders must secure the “express written permission” from a sporting event’s governing body or rights holder to facilitate wagers and be taxed or required to pay fees to “the foreign governing body” or “content rights holders”.
Finally, license holders will moreover be expected to submit to the Philippine Amusement And Gaming Corporation a “letter of confirmation” from governing bodies or content rights holders stating that the sportsbetting firm has agreed to hand over a certain percentage of its gross gaming revenues from any event.
“A written acknowledgement by the applicant that its license shall be automatically revoked if it does not submit within 72 hours of such [a] request, an executed copy, electronic or otherwise, of any such contract between the governing body and/or content rights holder and the licensed offshore gaming operator, if requested in writing to do so by the Philippine Amusement And Gaming Corporation,” read the statement from the Philippine regulator.