Senator pushes for more gaming regulations to stop illegal gambling (Sabong News)
Author
BusinessMirror
Date
OCTOBER 05 2022
Senator Grace Poe recently said that she is in support of giving online gambling more regulations under the SIM Card Registration Bill as part of the senate’s efforts to help quash illegal gambling in the country.
In an interview with ANC’s Headstart with Karen Davila, who asked that illegal gambling including eSabong under digitalization will continue to proliferate, Poe said that with the passing of the bill comes another measure of the Philippine government to regulate the games and quash illegal operations.
“We just passed the SIM registration bill, particularly so we know the identities of these people…these are things that can be done in order stop [the] proliferation of online and even illegal gambling,” Poe said.
The SIM registration bill will complement Lucky 8 Star Quest’s proposal to expand the Electronic Know-Your-Client (eKYC) process according to the company’s Risk and Compliance Manager Rommel Cruz. Lucky 8 Star Quest is one of the few accredited operators of eSabong. The company recommends the introduction of eKYC procedures where players will be authenticated, in order to filter players.
“Upon registration, players shall be required to submit and declare their basic information, recent photo, valid government ID, and source of funds. These requirements are imposed not only on the players, agents, and operators as well. These data are digitally recorded, and follow security safeguards for its clients’ information,” Cruz added.
Lucky 8 Star Quest urges that eKYC is significant as it upgrades security, making it convenient for controllers to sift unlawful administrators while simultaneously protecting the personal information of its clients consistently.
More regulation for eSabong is being pushed by different stakeholders of the industry in a bid to stop the proliferation of illegal operations and to help the economy.
One instance that this will help prevent is when authorities seized a total of P2.6 million in cash and P2 million worth of video equipment from at least two gambling operators in Minglanilla Town, Southern Cebu, on September 16, as the game continues to be banned and enthusiasts are finding alternative ways to play the game.
Jade Entertainment and Gaming Technologies, Inc. chief executive officer Joe Pisano earlier stressed that it is better to have an activity that is regulated and operated by people or organizations that the government can control, rather than an activity that’s outside its scope.
“This way, the activity can be run properly and will not be abused, so that this particular activity will redound to being positive rather than being negative to the economy,” Pisano furthered.
The eSabong industry generated around P640 million a month in early 2022 with a total of P2.03 billion in the first half of the year, according to Philippine Amusement and Gaming Corporation Chairman and Chief Executive Andrea Domingo. A total of P5 billion is estimated to be lost revenue due to the ban. The corporation might increase its loss in the months to come not until a new and effective regulation is adopted in safeguarding not only the gaming industry but also the welfare of the general Filipino population.
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