A new bill has been filed in the Philippine House of Representatives that seeks to legalize, regulate, and tax social betting in the country.
The proposed legislation, House Bill 10512, was introduced by Representative JB Bernos and aims to create a safe and controlled environment for a popular form of gambling that currently operates in a legal grey area.
The bill defines social betting as wagering that occurs between private individuals on non-professional sporting events or other mutually agreed-upon outcomes, where the operator is not a commercial entity.
If passed, the new law would place the regulation of this activity under the authority of the Philippine Amusement and Gaming Corporation (PAGCOR), the country’s primary gaming regulator.
This move is designed to bring a largely informal and untaxed activity into the formal economy, providing a new source of revenue for the government while implementing much-needed consumer protections.
The proposed legislation is also positioned as a tool to combat the pervasive issue of illegal gambling in the Philippines. By providing a legal avenue for social betting, lawmakers hope to steer players away from unlicensed and predatory operators.
Proponents of the bill argue that a regulated framework would not only generate tax revenue but also allow for the implementation of responsible gaming measures to protect vulnerable individuals.
The bill is in its early stages and will now undergo a series of readings and committee discussions in the House of Representatives before it can proceed further.
The Philippine House of Representatives proposal reflects a growing trend in the region to modernize gambling laws and address the realities of how people engage in betting activities.
