Online Sportsbooks In Philippines
Find the best bookmakers in the Philippines
Betting in Philippines is popular with the local gambling market passing the $1-billion mark in annual revenues from betting activities back in 2010. With population of over 100 million people, the Philippines market is a huge one with wagers being placed on both local and international sports events.
Many Filipino bettors are going online or mobile while looking for more advantageous odds while the government mulls introducing taxes on winnings from sports betting for individuals.
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Betting in the Philippines
An increasing number of punters in the Philippines are gambling online and the list of online gambling companies in the Philippines is growing by the day. Filipinos can also place bets with foreign bookmakers and while some big names are still absent on the local market a good number of reputable online sportsbooks are available.
As international bookmakers usually offer better odds compared to the local ones, many local bettors prefer foreign online and mobile betting services.
As the Philippines betting market is a large one, many online bookmakers are targeting bettors from the Philippines. More than 300 English-language sportsbooks accept wagers from the Philippines and some have their odds offered in the Filipino language. The English language is an official language in the Philippines along with the Filipino language.
Is betting in the Philippines legal?
Online bookies in the Philippines are legal. The local government body that oversees all gambling activities is the Philippine Amusement and Gaming Corporation (PAGCOR) while some Philippines betting sites are incorporated in CEZA (Cagayan Freeport), which is located in Luzon.
It is worth mentioning that a sportsbook in the Philippines that is licensed under CEZA is not allowed to accept bets from residents of the Philippines.
Nonetheless, Filipino bettors are allowed to deposit money and place bets with either overseas sportsbooks or trough Philippines betting sites that are licensed or operated by PAGCOR.
Sports betting bonuses and free bets for Filipino bettors
Sportsbooks in the Philippines are offering various free bets and sign-up bonuses to Filipino punters. First deposit bonuses of up to $100 are available through many online bookies in the Philippines. Foreign bookmakers also offer lucrative promotions for bettors from the Philippines but you should check each individual sportsbook to find new bonuses and betting promotions.
Mobile betting companies also offer bonus cash for bettors as these bookmakers try to set foot on new markets and expand their reach.
Additional betting bonuses are available to Filipino punters who are interested in pool betting.
Popular sports for betting in the Philippines
Filipino bettors have access to all the major international leagues and sports to place their wagers, especially through online bookies in the Philippines. Popular sports include baseball, cricket horse racing and Australian football.
Local punters pay special attention to the games under the Philippines Basketball Association (PBA) and you can find an extensive list of odds for online betting with the Philippines PBA. According to experts, this is one of the most competitive basketball leagues for betting in Southeast Asia. Other popular sports are badminton, boxing, tennis and volleyball.
Cockfighting, however, plays a major role when betting in the Philippines is concerned as it attracts bets from almost anyone across the country.
Payment methods accepted by sportsbooks in the Philippines
Residents of the Philippines have no problems with opening an account with any major card issuing company or an e-wallet. Bookmakers in the Philippines accept deposits via bank transfers and selected sportsbooks also accept cheques.
Filipino punters can easily deposit money for betting using a VISA or MasterCard debit or credit card. Selected bookmakers may accept American Express cards as well.
Virtually all Philippines betting sites are supporting payments and withdrawals via online payment processors such as Neteller, Skrill or PayPal. Other e-wallets are also available and a growing number of mobile payment methods become available over time.
Do I pay taxes on winnings in the Philippines?
Currently, a licensed gambling operator in the Philippine pays a 25% corporate income tax and a 5% franchise tax to the government.
Winnings from bets on horse racing vary from 4% to 10% depending on the bet type. Lotto winnings are subject to a 20% tax.
There is an ongoing debate in the Philippines if a tax on income from betting winnings should be introduced. There are no reports for prosecuting those who bet through foreign online bookmakers in the Philippines, however.
With revenues from gambling in the Philippines forecast to exceed $6 billion in 2018, the list of online gambling companies in the Philippines will only grow. Both Filipino sportsbooks and foreign bookmakers are targeting this lucrative market.
Although taxes on gambling are relatively high in the Philippines, which results in less competitive odds, local bettors can choose among plenty of odds available online. The gambling market in the Philippines will grow further as more online and mobile betting options become available.