Financial literacy reshapes iGaming behaviour in Philippines
Rising financial literacy in the Philippines is transforming how players engage with iGaming, with industry leaders pointing to a shift from impulsive spending to more deliberate decision-making.
According to the Bangko Sentral ng Pilipinas (BSP), the Philippine central bank, high awareness of financial products and services is now widespread. According to the BSP’s 2025 Consumer Finance and Inclusion Survey (CFIS), 90 per cent of Filipino adults are familiar with at least one formal financial product. This growing awareness is feeding into behavioural changes across digital entertainment sectors, including online gaming.
Filipino players become more deliberate, risk-aware
Renz Chong, CEO and Co-founder of Virtual One, cautioned against conflating awareness with deep financial understanding, but acknowledged a clear directional shift. “A more financially aware player does not automatically become a smaller spender; they become a more deliberate one,” he told SiGMA News.
“In the Philippine iGaming market, that shows up in three ways. First, spending discipline: players are more likely to compare channels, notice transaction friction, and respond better to tools that help them control spend,” Chong said.
“Second, risk awareness: they are less tolerant of vague terms, unclear odds, hidden charges, or payout processes that feel unreliable. Third, product expectations: they increasingly expect iGaming platforms to behave more like credible digital financial services, with clear fees, secure payments, visible safeguards, and real accountability,” he added.
Also speaking exclusively with SiGMA News, John Calderon, Executive Managing Partner at Consulcy Advisory Group, echoed this trend. “Rising living costs are a key factor. Inflation and global issues have made basic goods more expensive, so Filipinos are budgeting more carefully and prioritising essential needs,” he said.
As a result, Calderon noted, players are more careful with their spending. “This leads to more controlled and less impulsive behaviour compared to before.”
The BSP’s survey supports this narrative, showing that 74 per cent of respondents answered at least half of the basic financial literacy questions correctly, signalling a steady improvement in financial capability nationwide.
Crypto awareness rises, but trust remains key
While awareness of cryptocurrencies and virtual assets has grown, industry stakeholders warn that this does not necessarily translate into adoption in regulated iGaming.
The BSP reported that “awareness of virtual assets and cryptocurrencies increased from six (6) per cent in 2021 to 20 per cent in 2025,” highlighting a surge in familiarity driven by widespread smartphone and internet usage. However, actual investment remains minimal, with only 1 per cent of Filipino investors holding such assets.
Chong stressed that awareness alone is insufficient to drive behavioural change. “Awareness is not trust, and trust is what drives payment behaviour,” he said.
He also pointed to regulatory constraints, noting that Philippine authorities have taken a firm stance on crypto in gaming. “Operators cannot assume that higher awareness creates a green light for direct crypto betting flows,” Chong said, referencing tighter payment controls and the prohibition of cryptocurrencies for betting under local regulations.
Instead, he argued that the real opportunity lies in improving traditional payment systems. “The immediate opportunity is not ‘go crypto-native as fast as possible.’ It is to build payment experiences that are faster, smoother, traceable, and fully compliant.”
Calderon reinforced this view, noting that while platforms such as digital wallets have increased exposure to crypto, “it is not part of the regulated framework for licensed operators.” He added that most crypto-related gaming activity remains within offshore or grey markets.
For licensed operators, the priority remains clear. “The focus is not crypto integration but improving fiat payment systems, digital wallet usage, and overall transaction speed and convenience while staying compliant,” Calderon said.
Responsible gaming gains ground with literacy growth
Improved financial literacy is also strengthening the foundations for responsible gaming in the Philippines, though experts stress that responsibility still lies heavily with operators.
Chong emphasised that greater awareness among players raises expectations rather than reducing operator obligations. “Improved financial literacy absolutely supports a more sustainable and responsible gaming environment, but it does not remove responsibility from operators. If anything, it raises the bar,” he said.
He noted that financially aware players are more likely to verify whether platforms are regulated, assess how their money is handled, and demand safeguards. The BSP report found that around 64 per cent of Filipinos verify whether financial providers are regulated before engaging with them online.
“This is where operators have a real opportunity,” Chong added. “Many platforms still lack basic trust-building tools such as spend dashboards, deposit and betting limits, self-exclusion options, clear payout processes, and plain-language disclosures.”
Meanwhile, Calderon highlighted the link between financial literacy and sustainable engagement. “Players with stronger financial awareness tend to manage spending better and play in a more controlled way. This reduces impulsive behaviour and supports more stable long-term engagement,” he said.
“This also aligns with the Philippine Amusement and Gaming Corporation (PAGCOR)’s push to strengthen responsible gaming frameworks and improve player protection across the regulated sector,” he said.
For both Chong and Calderon, Filipino players’ behaviour is evolving and reshaping the industry. They said that trust, transparency, and compliance are no longer optional features but core expectations for iGaming firms.
As Chong concluded, operators that embrace this shift “are more likely to earn trust and retain higher-quality users over time,” while those that fail to adapt risk being left behind in an increasingly discerning market.
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