Source
The gaming industry in the Philippines has witnessed staggering growth ever since the pandemic hit in 2020. There was a 47% increase in revenue compared to the previous years. Such an exponential development was mainly due to the rise in people’s interest in gaming in the Philippines.
Did you know that the daily time spent on online games is 91 minutes per Filipino? Well, not only does this encompass video and mobile games, but it also includes online gambling.
The online gambling market in the Philippines is expected to reach a whopping USD 2,323.06 million in 2022. Due to this, online gambling became permittable, allowing adults over 21 years to find multiple gaming opportunities.
In turn, it changed the market overview, size, and trends for the Philippines’ online gambling industry. Read on to know more!
The post-COVID effect on the gaming industry in the Philippines
After the successful lift of COVID restrictions, the country’s GGR, or Gross Gaming Revenue, increased. According to data from PAGCOR, gaming in the Philippines was on a rebound, surpassing USD 2 billion (PHP 112 billion).
This allowed the gambling market to grow at an expected CAGR rate of 10.82%, resulting in a predictive market revenue of USD 3 million (PHP 169 million). As mentioned earlier, all of these resulted in the validation of gambling games.
Games offered by the online gaming companies in the Philippines, like online sports betting, lotteries, casinos, and poker, have been legalized after this sudden industry growth. However, Filipinos must be aware of their constitutional rights while observing the online gambling rules to avoid penalties.
Online gaming statistics in the Philippines
The 2021 market revenue results by PAGCOR were shocking for some online gaming companies in the Philippines. It was because the GGR in the industry hit an average of USD 2.2 billion (PHP 131 billion).
The industry experts observed a 14.5% increase compared to the pre-pandemic data. However, the revenue halted in 2020 and stayed stagnant at USD 1.9 billion (PHP 98 billion). Even then, the results were boosted during the nationwide vaccination drive.
In 2021, the online gaming industry in the Philippines was transformed entirely. So, the table below shows the quarter-wise breakdown of the revenues collected.
| quarters (2021) | Revenue Collected |
| 1St (January to March) | USD 582 million (PHP 30 billion) |
| 2nd (April to June) | USD 421 million (PHP 21.7 billion) |
| 3approx (July to September) | USD 505 million (PHP 26.9 billion) |
| 4th (October to December) | USD 670 million (PHP 34.5 billion) |
As depicted in the table, the 4thth quarter generated the highest revenue. Whereas, the lowest was in the 2nd quarter while the gain halted in the 3approx quarter. At the same time, revenue collected from gaming in the Philippines was good enough for the first quarter.
Games responsible for the gaming in the Philippines transformation
imagesource
In-house bingo, poker, and junket operated on a GGR of USD 159 million (PHP 8.2 billion). Moreover, table games generated USD 46.6 million (PHP 2.4 billion) in 2021. Slots also contributed a whopping USD 95 million (PHP 4.9 billion) alone.
Philippines online gambling casinos that are licensed reported an average GGR of USD 1.7 billion (PHP 88.4 billion) by the end of 2021.
Other than the games mentioned above, additional licenses like electronic games, e-sabong, and bingo witnessed a GGR of USD 320 million (PHP 16.5 billion).
To break it down, bingo had a GGR of USD 190 million (PHP 9.8 billion). At the same time, electronic games and e-sabong received USD 56 million (PHP 29 billion) and USD 72 million (PHP 3.7 billion), respectively.
Such growth clearly shows the competitive edge etched into the gaming industry in the Philippines. The sector has become a lucrative market in Asia, primarily due to the robust expansion of the popularity of online casinos.
The trends of the online gambling industry in the Philippines
By the end of 2021, all the predictions for gaming in the Philippines became true. Consequently, the online and digital casino trends turned into a reality. The online gaming scenario eventually bettered and sometimes surpassed the market predictions.
The COVID restrictions brought unexpected publicity that reaped a catalyst for such monetary developments.
Due to its popularity, the gaming world is bringing forth new trends and entertainment options. So, the gaming industry in the Philippines, significantly the gambling market will develop specific directions like:
- Gambling on mobile devices: The market has introduced various mobile-enabled casino games that players can access from anywhere in the country.
- Crypto as a payment substitute: Certain online casinos offer cryptocurrencies as a payment option.
- The advent of virtual reality: Some game developers in the Philippines have taken a collaborative approach to enter the metaverse.
Apart from these, the industry can witness multiple new trends, eventually leading to the casino industry’s rise. Some believe that the possibilities are endless as the country becomes completely digital.
The future of gaming in the Philippines – How do online casinos shape the end of the industry?
The government controls the entire Philippine gambling industry. Entities like Gaming Corporation and Philippine Amusement earn a significant chunk of the generated GGR from the market. While the industry has been legalized, players should follow the rules and regulations of gaming in the Philippines.
Over 2 to 3 years, the Philippines’ online gambling industry has proved influential. New high-end and licensed establishments are expected to pop up online for players to access.
Some might say that the increase in online casinos would inadvertently create an addiction trap. Gamblers can become addicted if they use this market to earn money and not have fun. This is a risk the Filipino government is working to avoid.
In the future, Filipino online casinos will have terms and conditions of use that measurably prevent addiction.
Players can limit spending and activity by suspending their accounts for a few hours. Due to such features, the gaming industry in the Philippines will have increased revenue generation and positive competition.
Interesting Related Article: “How Video Games Could Influence the Gambling Industry”
