The Philippine online gambling market reached new heights in Q3 2024, with a total revenue increase of approximately 12% compared to last year.
The Philippine Amusement and Gaming Corporation (PAGCOR) recently released revenue reports that indicated that online or iGaming revenue has increased 465% from the previous year. The iGaming market in the Philippines consists of online casinos, sports betting, bingo, and other specialty games.
The PAGCOR chairman, Alejandro Tengco, believes revenue will continue to grow and reach the PHP100 billion target set for 2024. Tango also stated, “This impressive performance is a strong indication that the use of modern technology and mobile gadgets in gaming and amusement will continue to play a pivotal role in shaping the future of gaming.”
POGO’s End In Philippines
In July, President Ferdinand Marcos Jr. banned the Philippine Offshore Gaming Operators program, which allowed online casinos to operate from the Philippines to other countries. The program earned revenue from legitimate POGO license holders but also spurred an illegal industry often linked to cybercrimes.
After Marcos ended POGO licensing, China praised the new president and the country for eradicating the program. The two countries were at odds over online casino sites accepting Chinese players for years.
Despite removing offshore operators, online Philippine casinos and domestic iGaming sites licensed in the country are soaring due to increased tourism and national attention.
What Are The Odds?
Several factors determine the odds of online casino games; however, the odds often differ depending on the game.
Online slots typically have the worst odds of hitting big jackpots that offer high rewards but offer hours of entertainment and numerous lower reward levels. You can win money by playing slots, but walking away from a millionaire is still unlikely.
Other games, such as poker and blackjack, offer players much better odds when paired with skill. Poker betting, in particular, has multiple strategies that can increase a player’s chance of winning the pot.
Below is an average breakdown of typical domestic casino odds in Las Vegas. The odds below are just examples, as several factors and game variations can affect them.
- Blackjack – 42%
- Baccarat (Player Bet) – 44.6%
- Baccarat (Banker Bet) – 45.8%
- Craps (Pass Line Bet) – 49.3%
- Craps (Don’t Pass Line Bet) – 47.1%
- Video Poker – 45.456%