The Philippines government implemented new rules for online gaming operators. These rules enforced taxes on all in-game winnings and wagering, a first in the country’s history. Several factors help make the Philippines a popular destination for online gambling, including its population of more than 100 million people and proximity to China and Japan. However, despite this surge of popularity, gambling is still illegal in most parts of the country.
The online gambling industry in the Philippines has undoubtedly been growing in recent years, and for a good reason. The online gaming market in the Philippines is expected to generate upwards of $1 billion in revenue by 2020. It is an impressive figure, especially given how relatively new it is as a form of entertainment. In addition, several factors help make the Philippines a popular destination for online gambling, including its population of more than 100 million people and proximity to China and Japan. Here are factors that make the Philippines famous for jili online gambling.
- Population
The Philippines is a very Catholic country. It is evident in the heavily religious population and one-hundred percent literacy rate. However, while it can be seen as a positive influence in many ways, Catholicism also carries with it several negative aspects of the faith. One of them is the prohibition of gambling and playing games on Sundays with no spiritual or moral value.
- Location
While the Philippines might not be the most well-known country in Southeast Asia, it is undoubtedly one of the closest to China and Japan. The two countries are considered the world’s gambling capitals, so being close is crucial. Furthermore, proximity to a large market means there will also be many players within that market, which makes it easier to convert new players into regular customers.
- Good internet connection
The Philippines have one of the fastest internet connections in the world. This quick speed makes it possible to enjoy live gaming with little to no issues. There are no current reports of lag or massive delays due to slow internet speeds.
- Tax benefits
When it comes to taxation and regulation, the Philippines benefit from its unique position as an independent nation that has developed a lot of wealth since gaining independence from Spain in 1898. The country, which gained independence under the Federation of the Philippines, has had multiple presidential elections that have allowed it to modernize and become one of the major economic powerhouses in Asia.
- Expansion
Because of its expansion, the Philippines is a very wealthy country. It has one of the highest GDP per capita in Southeast Asia, making it a prime target for online gambling companies wanting to expand their empire. In addition, the Philippines also has some of the best internet speeds in the region for gaming purposes, which makes it an attractive option for gaming companies looking to grow in this area.
Although the jili online gaming industry is still in its formative stages in the Philippines. It is already generating a lot of wealth for the citizens and provides an excellent opportunity for companies to enter the market.
