BSP aims separate bank accounts for gambling in Philippines
The Bangko Sentral ng Pilipinas (BSP), also known as the Central Bank of the Philippines, has unveiled a sweeping regulatory proposal aimed at curbing the financial risks associated with online gambling, as pressure mounts from lawmakers and civil society to address what many are calling a silent public health crisis.
The BSP said the move is aimed at preventing digital platforms from being misused in ways that are ‘socially harmful and detrimental to financial health’. Stakeholders have until 25 July 2025 to submit feedback on the proposal.
Exclusive accounts with tighter rules
Under a draft circular released for stakeholder feedback, the BSP is proposing the creation of Online Gambling Transaction Accounts (OGTAs)separate digital wallets with stricter rules specifically designed for online gambling activities.
Payment service providers (PSPs) will be required to limit the velocity and value of these accounts, with users only allowed to transfer a maximum of 20 percent of their average daily balance into OGTAs within a six-hour daily window.
In an effort to deter impulsive gambling, a 24-hour cooling-off period will be applied once daily transaction thresholds are met, and users will also have the option to disable their OGTA for a specified number of weeks. Lending features on OGTAs will be automatically disabled.
Enhanced know-your-customer (KYC) procedures, including facial biometric verification, will be mandatory to open an OGTA, with periodic re-verification to minimise fraud. PSPs will also be required to implement pop-up alerts that warn users of gambling risks and encourage responsible behaviour, especially for those flagged as high-frequency users.
Violations could result in fines of up to ?100,000 (approximately 1,570) per day for ongoing infractions and ?1 million (around 15,700) per transaction for specific breaches. Repeat offences may result in suspension or permanent revocation of a providers authority to offer gambling-related payment services.
Senators back the move?
The move has drawn strong support from lawmakers, especially those pushing for a full ban on online gambling. Senator Sherwin Gatchalian called the BSPs decision a monumental step in protecting Filipinos from gambling addiction and financial distress. He said the new safeguardslike daily spending limits, time restrictions, and biometric checksmirror proposals in his own bill, which aims to outlaw online gambling altogether and require operators to register with the Anti-Money Laundering Council.
This is exactly the kind of decisive action we need, Gatchalian said. Putting caps on spending and limiting access can help prevent vulnerable Filipinosparticularly young peoplefrom falling into the trap of gambling addiction.
Senator Pia Cayetano also welcomed the broader government clampdown. She praised the Department of Information and Communications Technology (DICT) for pressing social media influencers to remove gambling-related promotions and for collaborating with platforms to clean up online spaces.
Cayetano also backed PAGCORs latest order to take down all gambling billboards across the country by 15 August 2025, calling it a timely move to tone down flashy ads that target at-risk communities. With both the executive and legislative branches now acting in sync, the message is clear: the Philippines is cracking down hard on online gambling, with a sharper focus on public welfare and financial transparency.
