ACN Spotlight: What PH Can Learn from Global iGaming Practices According to WMLL Co-Founder

October 24, 2024 Philippines ACN Spotlight iGaming & Gambling

In an exclusive interview with Asia Casino News (ACN), John Ross Calderon, Co-Founder of WMLL Inc., shared his observations about the evolving landscape of the iGaming industry in the Philippines, emphasizing the lessons that can be learned from international practices in regulation.

By learning from these best practices, the Philippines has the potential to create a vibrant and sustainable betting market while addressing the challenges it currently faces.

Current State of the iGaming Industry

Calderon noted that the iGaming sector in the Philippines is experiencing robust growth, despite the challenges posed by Philippine Offshore Gaming Operators (POGOs). He explained, “The iGaming industry in the Philippines is experiencing significant growth, despite the challenges surrounding POGOs, which represent only a small portion of the sector.” He highlighted that the expansion is largely driven by increasing internet penetration and the rising popularity of online gaming platforms.

Lessons from Global Practices

When discussing regulatory strategies, Calderon pointed out several key practices from other countries that could benefit the Philippines.

What lessons can be learned from other countries’ experiences in regulating iGaming and sports betting?

He stated, “The Philippines can learn a lot from how other countries manage iGaming and sports betting. For example, adopting a strong regulatory framework similar to the UK’s can help ensure fairness, while emphasizing consumer protection like Sweden. By embracing technology as Malta does, promoting responsible gambling initiatives (like Australia), and implementing balanced taxation policies (like Denmark), the Philippines can create a vibrant and sustainable betting market while raising public awareness about gambling risks, just as Singapore has done.”

Challenges and Opportunities in the iGaming Market

Calderon acknowledged the primary challenges faced by the iGaming industry in the Philippines, including stringent regulatory compliance and the necessity for localized marketing strategies. He remarked, “Localized marketing strategies are crucial due to the diverse languages and cultures across various regions, making it important to connect effectively with local audiences.”

The Sports Betting Landscape

When it comes to sports betting in the Philippines, certain sports reign supreme, reflecting the nation’s rich sporting culture and interests. Calderon pointed out that basketball remains the dominant sport for betting in the Philippines, fueled by a strong local culture.

“Here in the Philippines, basketball is the most popular sport for betting, driven by a strong local culture and leagues like the MPBL [Maharlika Pilipinas Basketball League], PBA [Philippine Basketball Association], and NBA [National Basketball Association]. Other popular sports include eSports, volleyball, and tennis, all of which offer a variety of betting options and are extensively featured on both local and international betting platforms.”

In the rapidly evolving landscape of the Philippine iGaming and sports betting markets, what are some of the untapped opportunities waiting to be explored? Calderon identifies specific areas where tailored solutions and technological advancements could create new avenues for engagement and profitability.

“The Philippine sports betting market holds untapped opportunities, particularly in developing tailored betting products for popular sports like basketball and eSports. There’s also potential for expanding localized payment options and mobile applications. Partnerships with local businesses and the adoption of innovative technologies, such as blockchain and cryptocurrencies, can enhance credibility and improve the overall player experience,” he said.

When asked to identify the biggest challenges currently facing the sports betting industry, he answered, “The sports betting industry currently faces significant challenges from offshore betting platforms that often evade local regulations and taxation, creating an uneven playing field for licensed operators. Additionally, there’s a crucial need for localized services and marketing strategies, as operators strive to cater to diverse regional preferences.”

When it comes to the the sports betting landscape in Southeast Asia, the Philippines stands out for its unique regulatory environment and cultural attitudes toward gambling. He provides a comparative analysis of the Philippine sports betting market, highlighting how its legal framework and societal acceptance differ from those in neighboring countries.

“The Philippine sports betting market is characterized by a regulated framework overseen by PAGCOR [Philippine Amusement and Gaming Corporation], allowing for legal online betting. This sets it apart from countries like Thailand, Malaysia and Indonesia, which have stricter regulations. Additionally, cultural acceptance of gambling is more prevalent in the Philippines compared to many Southeast Asian nations, where religious and cultural opposition can hinder market growth,” he explained.

As for WMLL Inc., Calderon mentioned that the company is currently in the idea stage, focused on establishing its innovative concept within the sports betting industry. He shared that their main goal for 2024 is to secure funding from an angel investor to develop their Minimum Viable Product (MVP). Looking towards the future, he outlined plans for 2025, where they aim to concentrate on a Unified Sportsbook Platform designed to facilitate market entry for sportsbook start-ups by streamlining the onboarding process and providing essential tools for success.