Philippine Amusement and Gaming Corporation (PAGCOR) announced the issuance of a new offshore gaming licence for sports betting on regulated wagering events.
The new sports betting class is for any offshore gaming operator “that accepts and/or facilitates wagers on regulated gaming events, such as but not limited to, horse or dog races, and provides to its customers, live event audio and/or visual feeds of such regulated gaming events, and such events are regulated by a foreign governing body.”
This particular licence is limited to offshore gaming operators who pay taxes or who will pay a percentage of their income.
Also, there are some criteria to be permitted by the Applicant which can be found in the Announcement.
All licensees must pay the 1.5% of their income to Philippine Amusement and Gaming Corporation (PAGCOR) on monthly basis.