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2024 Philippines First Quarter Gaming Revenue Reaches Record $1.4 Billion, Up 19% Year-Over-Year

In the first quarter of 2024, the Philippine gaming industry, including both casino and non-casino operations, achieved a record gross gaming revenue (GGR) of PHP81.70 billion (US$1.42 billion), marking an 18.5 percent increase year-over-year. The electronic-delivered games sector notably contributed PHP22.5 billion, significantly surpassing previous figures. Despite a decline in GGR from land-based casinos, licensed commercial casinos remained the largest contributors with PHP49.7 billion. Pagcor anticipates the industry will generate PHP336.38 billion in GGR for 2024, a 17.9 percent increase from 2023. This growth highlights the impact of technological advancements and changing consumer behaviors on the Philippine gaming sector.

Contributing PHP22.5 billion in GGR for the first quarter of 2024

In the first quarter of 2024, the Philippine gaming industry, which encompasses both casino and non-casino operations, generated gross gaming revenue (GGR) of PHP81.70 billion (US$1.42 billion). This figure marks an 18.5 percent increase compared to the same period last year and a 2.0 percent rise from the previous quarter.

According to the Philippine Amusement and Gaming Corporation (Pagcor), the latest GGR figure sets a new record, continuing the upward trend seen since the post-pandemic recovery began in late 2022. This announcement was made on Wednesday by the country’s casino regulatory body.

The electronic-delivered games sector notably maintained its record-breaking performance, contributing PHP22.5 billion in GGR for the first quarter of 2024. This amount is more than six times the PHP3.5 billion generated in the first quarter of 2023.

Alejandro Tengco, Pagcor’s chairman and chief executive, remarked on the impressive e-Games revenue performance, highlighting that it has consistently surpassed the regulator’s forecasts. He noted, “This reflects how gaming technology and the widespread use of mobile devices are shaping our daily lives and entertainment choices.”

Mr. Tengco further added, “Given the continual influence of technology on our lifestyles and business operations, and even our entertainment preferences, the future of gaming evidently lies within the e-Games sector.”

The nation’s licensed commercial casinos remained the largest contributors to first-quarter GGR, bringing in PHP49.7 billion. However, this figure represents an 8.2 percent decline year-over-year.

Pagcor-operated casinos, under the Casino Filipino brand, reported a GGR of PHP4.69 billion for the first quarter, an 8.6 percent decrease compared to the same period last year.

Pagcor noted that the year-over-year decline in GGR from land-based casinos underscores the challenges faced by this segment as more players migrate to online platforms.

The regulator anticipates the Philippine gaming industry will generate PHP336.38 billion in GGR in 2024, a 17.9 percent increase from 2023. The first-quarter total accounted for 24.3 percent of Pagcor’s annual target.

In April, Pagcor reported total income of PHP25.24 billion for the first quarter of 2024, reflecting a 42.6 percent increase from the previous year’s period.

This sustained growth in the Philippine gaming sector demonstrates the significant impact of technological advancements and changing consumer behaviors on the industry. As the shift towards online and electronic gaming continues, the future of the sector looks increasingly

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Understanding the Landscape of Online Casino Scams

Navigating online casinos requires awareness and vigilance. Here are five more specific scams to be aware of, ensuring you stay safe while enjoying your online gambling experience:

Identity Theft

Scammers often create fake casino websites or infiltrate legitimate ones to steal personal and financial information. Always verify a site’s security measures and SSL certificates to ensure your data is protected.

Unfair Game Tactics

Some casinos use software that makes it almost impossible for players to win. This may include tweaking the return-to-player (RTP) percentages or using non-random number generators. Always check for certifications from reputable testing organizations like eCOGRA.

Phishing Emails and Messages

Players may receive emails or messages that appear to be from legitimate sources, asking them to confirm login details or payment information. Always verify the sender’s details and never click on unsolicited links.

Interception of Payments

When it’s time to withdraw winnings, some fraudulent casinos intercept these transactions. They may claim technical errors or request additional verification documents indefinitely. Stick to casinos with transparent payment processes and clear terms of service.

Affiliate Scam

Some unscrupulous affiliates promote casinos that offer lucrative commissions but engage in dishonest practices or do not pay out to players. Research the credibility of affiliate marketers and their associated casinos before following their recommendations.

How to Respond to Online Casino Scams?

If you suspect that you’ve been targeted by an online casino scam, there are several proactive measures you can take to prevent others from experiencing the same issue

Raising Awareness About Online Gambling Scams

Reaching Out to the Casino's Licensing Authority

Exploring Gambling Blogs and Forums

Undoubtedly, one of the most effective methods to alert others about online gambling scams is to share your experiences publicly. In today’s digital age, information is readily accessible, ensuring that potential gamblers will find a wealth of reviews and testimonials when they search for information on casinos. Writing detailed accounts of your encounters with scam casinos can significantly influence public opinion and help others avoid similar pitfalls.

If the casino you’re dealing with is regulated by a reputable licensing organization, filing a complaint with the entity that issued the license is a viable step. While it’s important to recognize that this approach might not always lead to a resolution, taking any possible action is worthwhile. Raising your concerns with the licensing authority can at least ensure that the issue is documented, which could contribute to broader efforts to address such practices in the gaming industry.

One effective way to gather insights about an online casino is by delving into various gambling blogs and forums. These platforms are often rich with personal accounts from individuals who share their experiences—both positive and negative. This real-time feedback is invaluable for gauging the reputation of a casino.

To aid in preventing others from falling victim to the same issues you encountered, consider contributing your own experience to these online communities. Posting detailed accounts of the online gambling scams you’ve faced, along with advising others to steer clear of the offending casino, can serve as a powerful warning to prospective gamblers and help protect the community.

Tips to Avoid Online Casino Scams

Preventing online casino scams starts with vigilance and knowledge. By adopting a cautious approach and implementing the following tips, you can safeguard yourself against fraudulent activities and ensure a secure online gambling experience:

Research Thoroughly:

Before signing up or depositing money, thoroughly research the casino. Look for reviews, testimonials, and any red flags on gambling forums and trusted review sites.

Verify Licensing:

Ensure that the casino is licensed by a reputable regulatory authority. Legitimate casinos will openly display their licensing information on their website.

Read the Terms and Conditions:

Always read the casino’s terms and conditions. Pay special attention to the rules regarding withdrawals, bonuses, and wagering requirements.

Use Secure Payment Methods

Opt for casinos that offer secure, well-known payment methods. Avoid casinos that require direct transfers or untraceable payment methods.

Test Customer Support

Before fully committing, test the responsiveness and helpfulness of the casino’s customer support team. Legitimate casinos should offer prompt and informative support.

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