The Philippines became Asia's second-largest gambling hub after Macau last year as online betting proliferated across the archipelagic nation. Almost half of the country's 69 million working-age population is now registered on gambling apps, an exponential rise from less than half a million users in 2018. The government has become increasingly dependent on the industry. Philippine Amusement and Gaming Corp. collects 30% of gross gaming revenue and has become the second-biggest revenue contributor among state-run companies after Land Bank of the Philippines. Revenue from online casino license fees is projected to reach $1 billion in 2025. More than 60 operators are regulated by the government. Industry revenue almost tripled in 2024 from 2023 to 154.5 billion pesos. Revenue from internet betting eclipsed physical casinos for the first time this year. The central bank recently ordered e-wallets to remove links to betting sites, halving bets within days. President Ferdinand Marcos Jr. rejected calls for a complete ban and said outlawing online betting would only spawn illicit operations that would be more difficult to eradicate.Read more of this story at Slashdot.