Prospects of Starting an Online Casino in the Philippines06 Jul 2022
Previously, we have already given a brief review of the online gaming market in India. Learn more… Now it’s time to describe another very promising Asian country for starting an online casino – the Philippines. The Philippines is a Southeast Asian state made up of more than 7,000 islands. The iGaming sector in this country is the second-largest source of annual income, right after taxes. Gambling in the Philippines has been around for centuries, and today the country is the first in line to become an Asian gaming center. That’s why starting an online casino in the Philippines is a potentially profitable idea for setting up your business.
The government of the Philippines has a monopoly on the regulation of the gaming industry. However, the country’s gambling jurisdictions have one unusual feature. There are 2 state organizations in charge of regulation: Philippine Amusement and Gaming Corporation (PAGCOR) takes care of land-based casinos & sportsbooks, while Cagayan Economic Zone Authority (CEZA) is focused on online gaming, casino software and services.
The First Step of Starting an Online Casino in the Philippines
Obviously, the first stage of launching an online casino is to obtain a gaming license. Of course, if you want to run a casino legally, according to the gambling jurisdictions of the Philippines. The fun fact is that the gaming licenses of CEZA, the public body we mentioned above, do not allow operators to do business in the Philippines, only in other countries. Consequently, it may seem that online gaming clubs, as well as casino software and services are completely banned in the Philippines, but this is not true.
Under the gambling jurisdictions of the Philippines, you can legally operate throughout the country only if you have a gaming license of one of the offshore states. These are, for example, Malta or Costa Rica, and they specialize in issuing such licenses. Even though the fee for obtaining a license of such offshore states is the lowest, the price starts at $60.000 or more. Check out this article to make sure. Beyond that, paperwork & issuing a license take a huge amount of time. It means the process of starting an online casino may take up to 6-8 months.
It’s long enough, don’t you think? If this doesn’t appeal to you, there is an alternative. With White Label Casino Solution, it’s possible to launch an online casino in just a couple of weeks.
Most importantly, it goes according to the gambling jurisdictions of the Philippines. Simply put, White Label is a franchise that comes with not only a ready-made gaming license, but also with casino software and services. It’s a cost-effective solution that will allow you to succeed legally & quickly in any market, including the Philippines.
How to Run a Casino? Find Game Suppliers!
When your gaming platform is ready to launch, it’s time to think about what content to fill it with. If we talk about Filipinos, they do enjoy betting on horse races, as it has been their national passion since ancient times. Thus, it would be the great decision to include sports betting in your gaming club. To run a casino successfully, you need to find a trustworthy casino software and services provider, so pay close attention to it.
In addition, Filipinos are crazy about colorful quality slots. We highly recommend you to consider CQ9 casino software and services provider and integrate CQ9 API into your gaming club. CQ9 specializes in slots for the Asian market, and has over 100 different games available. In addition, CQ9 API is perfectly optimized for all platforms & easy to install.
To sum up, we believe the Philippines is a great market for starting an online casino. The Philippines has political stability, loyal gambling jurisdictions, and a well established financial services industry. The country is friendly to foreign gaming club operators, and more than 60% of the adult population occasionally visits online or land-based casinos. If you consider investing in the Philippine market & want to start an online casino there, let us know. We have all the necessary resources for this. For our team, it’s a pleasure to give you a helping hand!