New BSP Directive Implemented
Study Reveals E-Wallet Impact on Player Migration
A newly released study by The Fourth Wall, a research firm specializing in Filipino sociocultural dynamics, uncovered a notable correlation between the disassociation of e-wallet platforms from regulated online gaming entities and a surge in users migrating to unregulated sites.
The study revealed that in the wake of the August 16, 2025, prohibition, regulated platforms witnessed a staggering 70% reduction in player numbers, in stark contrast to unregulated sites, which enjoyed an immediate 40% uptick.
Current trends indicate that unregulated platforms are poised for further growth, appealing to players who opt to leave their regulated counterparts.
The Fourth Wall conducted its survey with over 1,000 active online gambling participants hailing from urban areas across Mega Manila, Metro Cebu, Metro Davao, and other strategic cities throughout the nation.
Determinants of Player Transition
The research identified significant variables pertaining to e-wallet utilization that are indicative of players’ propensity to migrate.
Trust in E-Wallets
The study found that a majority of respondents maintain a high level of trust in e-wallets and their associated safety protocols.
Individuals exhibiting strong trust in e-wallet systems are 2.3 times more likely to transition to unregulated venues (42% of surveyed individuals) compared to those with diminished trust (18%) once the link to regulated platforms is severed.
As e-wallets persist as an option on unregulated sites, players may erroneously equate their presence with enhanced safety, prompting migration.
Additionally, many participants regard age verification within e-wallet systems as a vital security measure, which influences migration patterns. Those holding this view are 2.4 times more likely to gravitate towards unregulated platforms (40%) than those who do not share this sentiment (17%).
This may lead to the misconception that the availability of e-wallets on unregulated sites signifies that these platforms uphold similar safety measures.
Moreover, reliance on e-wallets serves as a compelling incentive for players to shift to unregulated platforms where their preferred payment method remains accessible.
Findings indicate that players who regard e-wallets as crucial for online gambling are twice as inclined to migrate to unregulated venues (40%) versus those who do not share this belief (19%) when e-wallets are rendered unavailable on regulated sites.
“This study illustrates the pivotal role e-wallets have in influencing online gambling behaviors. The severance of ties with regulated platforms led to a redirection of activities towards unregulated venues, inadvertently exposing players to heightened risks,” remarked John Brylle L. Bae, Research Director at The Fourth Wall.
He further stated, “This situation underscores the necessity of considering how payment mechanisms affect perceptions of legitimacy in future regulations on online gambling. Discussions must evolve to address the dual aspects of access and user perceptions in the overall design of protective measures.”
Continuation of Research Findings
This contemporary research builds on prior analyses conducted by The Fourth Wall, which found that participants associate e-wallets with security and trust.
Data from the earlier study indicated that approximately 73% of e-wallet users trust the platforms’ age and identity verification processes, while 64% believe these systems assist in managing their financial expenditures, thereby promoting responsible gameplay.
Furthermore, 92% of players expressed a preference for utilizing the e-wallet platform GCash, with Maya (6%) trailing significantly, while only 2% opted for traditional over-the-counter payment methods.
In a supplementary analysis, The Fourth Wall identified stark contrasts between regulated and unregulated online gambling entities, encompassing the availability of games not verified by PAGCOR, a lack of Know Your Customer (KYC) protocols, aggressive marketing tactics, and variable customer service quality.
Such disparities expose participants to a plethora of risks, including excessive financial losses, scams, fraudulent activities, and privacy concerns stemming from unsolicited messages.
Severance of E-Wallet Connectivity
On Thursday, August 14, the Senate Committee on Games and Amusement convened hearings to address the adverse implications of online gambling.
Following its inquiry, the Bangko Sentral ng Pilipinas (BSP) mandated the disconnection of e-wallets from online gambling applications, effective Saturday, August 16, with prominent players like GCash and Maya confirming compliance.
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