The Bangko Sentral ng Pilipinas (BSP) is preparing to implement a new set of consumer protection rules designed to address the financial and psychological risks tied to online gambling.
The upcoming framework, currently being finalized, will require financial institutions—including banks and digital wallets—to adopt stricter measures in handling transactions related to online betting platforms. Among the key provisions are advanced identity checks such as biometric authentication, including facial recognition, to ensure only verified users can access and use funds for gambling purposes.
To discourage excessive losses, the BSP plans to enforce daily transaction limits specifically for gambling-related activities. Time-based restrictions will also be put in place to minimize impulsive betting behavior.
The guidelines will introduce tools that allow users to set their own spending limits, take cooling-off periods, or voluntarily block themselves from gambling transactions altogether—empowering consumers to manage their online betting habits more responsibly.
These rules are the result of consultations with stakeholders and aim to close loopholes that expose users to addiction, fraud, and other forms of financial harm. The central bank emphasized that financial service providers will be mandated to integrate these safeguards into their systems.
“This initiative reflects our continuing efforts to foster a secure and inclusive digital financial environment,” the BSP said in a statement. “We want to ensure that Filipinos can enjoy the benefits of digital finance without falling into the pitfalls of unregulated gambling.”
The final version of the regulations is expected to be released in the coming weeks, with compliance expected shortly thereafter.