MegaSportsWorld (MSW), a Filipino sports wagering provider, has obtained confirmation from gaming regulator PAGCOR to build an online gaming console to serve sports betting consumers across the country. The move is intended to boost gambling earnings, which have been hammered hard by the outbreak. However, more precautions are needed to make sure that the business is appropriately enforced as more gambling shifts online.
PAGCOR is considering additional options for international players in terms of facilitating more online betting. The commission intends to launch an online edition of cockfighting, a famous activity in the Philippines, aimed particularly at players from the United States.
The latest MSW platform enables clients to securely make sports betting from the comfort of home, despite COVID-19 having to suffocate the land-based gaming business across most of the Philippines, especially Metro Manila.
This will be the first moment in MSW’s 12-year history that the company is likely to give authenticated consumers a properly regulated online service in addition to its popular bricks-and-mortar offering.
Sports gambling operators, like everyone else, have been experiencing their fortunes dwindle as a result of various COVID-related obstacles, including substantial social shutdowns and prohibitions, but finally, everything has fallen into place with the approval to go online.
Universal Entertainment Corporation, which operates Okada and Tiger Resorts, has previously made the announcement. Jun Fujimoto, the company’s senior director, and chairman, stated that the company had wanted to expand into online sports gambling in the future, which has already happened.
PAGCOR also demands that the system be auditable and capable of prohibiting kids and prohibited individuals from participating.
Furthermore, the corporation’s platform must include features like anti-money trafficking procedures, gaming malpractices, and rules encouraging responsible gambling. The Filipino regulator, on the other hand, stated that the company must do testing and simulations of the system.
Three of the nation’s casino sites could apply for the upcoming PIGO (Game Owner in the Inner surface of the Philippines) license in Dec 2020, according to PAGCOR. This would enable companies to extend their web services to the marketplace. Although Okada Manila was one of the finalists, it is unclear whether clearance for online games entails a PIGO license as well.
The PAGCOR chief, Domingo, stated that casinos’ online gambling, which may be done via cellphones, is subject to tight protections. Only VIPs and authorized casino guests would be permitted to wager, and they will be vetted using facial recognition software, with Pagcor personnel stationed in casinos to oversee wagers, she explained.
No minors or blacklisted individuals will be allowed to participate. And this is just for the time being in the Philippines. We don’t want simply anyone betting; only those who can afford to do so are eligible.
Overall, this approval of going online will transform the fortunes of Philippine sports betting firms, especially their profit margins.