Online casinos have become one of the most lucrative sectors of the gambling industry and show little sign of slowing down. A big part of this growth is fueled by ongoing changes to gambling laws around the world. As governments realize how lucrative online casinos are, they are moving to open up local markets.
No matter where they live, customers have been able to play at online casinos thanks to offshore casinos that provide their services in a legal grey area. The legal uncertainty, however, keeps many would-be customers from playing for fear of breaking a law or not having any legal protection. As online gambling legalization reaches more countries, the player pool continues to grow.
One of the recent additions to the expanding list of countries with legal online gambling is the Philippines. Gambling has a long and colorful history in the Philippines, yet despite a healthy tradition of enjoying games of chance, online gambling was only legalized in 2021.
Online gambling in the Philippines is legal in the cases of integrated resorts, which are land-based casino resorts that also offer online gambling options, and for licensed offshore providers. The Philippines Amusement and Gaming Corporation (PAGCOR) keeps a close regulatory eye on the Philippine Offshore Gaming Operations (POGOs). While these online casinos are mainly aimed at other Asian markets, they also have a local following.
One of the most popular digital payment methods in the Philippines is GCash. It is used to make all kinds of digital payments and has been embraced as the best payment method for online casinos.
In this comprehensive guide about the GCash payment method, we’ll present all of the relevant pros and cons of using GCash as an online casino payment method. We’ll also go over some of the leading GCash casinos currently accessible to players in the Philippines.
GCash is a mobile payment service that operates in the Philippines. It was launched in 2004. As many Filipinos do not have access to a local bank or hold a bank account, it has rapidly become the leading payment method because it is so accessible and convenient.
Like most e-wallets, GCash can be used to make payments online. In order to best serve its user base, GCash also has cash-in, cash-out machines all over the country where customers can transform physical currency into digital or the reverse.
Alongside its main service as an e-wallet, GCash also offers users other financial services. They have partnered with some of the major banks in the Philippines to create a savings account program called GSave. Recently, they also added a credit line service.
Pros and cons for online casinos
The first pro of using GCash to pay at online casinos is that it is convenient. It is already one of the most widely used payment methods in the Philippines, so most online casino customers will already have an account and be familiar with how to use it.
GCash also allows users to have a debit and saving account. This means that any winnings or unrelated deposits can be transferred to the savings account. This helps prevent users from over-spending, which is one of the big risks with any type of gambling.
Since GCash is a digital payment method, it can be processed very quickly. For online casino users, this is a great benefit. Any money that is deposited can be ready to use to play online casino games almost immediately. As an e-wallet, it is also much more secure than traditional payment methods. It requires two-factor authentication, which greatly reduces the risk of an account being hacked.
The biggest con for GCash is that it is a highly localized payment method. It isn’t used outside of the Philippines, so this can cause problems in more international settings. Not all online casinos will be able to process GCash payments, since most of their customers won’t be using it.
The other con is that recently GCash has been having some security issues. In May 2023, there was a large scale phishing attack that effected hundreds of GCash users. GCash wasn’t as quick to act as many customers would have liked, which suggested that GCash’s security was not as strong as it should be. There is a positive to come out of this though as GCash now knows where their vulnerabilities are and can work to fix them.
Leading GCash casinos
Vulkan Vegas is a popular online casino that has one of the most fun aesthetics. It embraces the fun side of Las Vegas nightlife and makes players feel as if they’re playing under the neon lights. It is also known for offering some of the best bonuses in the business, including a loyalty program for returning players. Unfortunately, they do not have a phone number for customer support, occasionally making it difficult to get help quickly.
20Bet Casino has one of the most intuitive user interfaces, making playing at this online casino easy and completely stress-free. For players who enjoy playing on the go, their site is fully optimized for mobile and has a great mobile game library. They accept deposits and withdrawals in GCash, though they do not offer many other payment options.
Bitstarz is the place to go for players who want to play all the hottest games. Their game library has over 4,000 titles, including slot machine games, table games and live dealer table games. Alongside GCash, they also accept cryptocurrency payments. One downside however is that they have started to shift their focus to cryptocurrencies, which might alienate some users.
Verde Casino might not have as many games as some of their competitors, but they take game quality very seriously. They have games from all the leading developers, including NetEnt. Their customer support team can be reached through a live chat feature and is very responsive. Their withdrawal process does move slowly, so that is unfortunate for players who need instant access to their funds.
GCash casinos: The pros and cons was first seen on Casino Life Magazine