The Reyes Tacandong & Co. senior advisor acknowledged the sector’s inherent social costs but warned that a blanket ban could drive Filipinos back to unregulated and illegal gambling.
“We should have cooler heads [on this issue],” Ravelas told InsiderPH.
The real danger, he added, is that banning the industry outright would roll back progress and fuel a surge in underground gambling.
This was the main challenge faced by the administration of Joseph “Erap” Estrada, when the government went all in on the legalization of small town lottery to combat illegal games such as jueteng.
“We were trying to get away from illegal gambling to legalized gambling. Nowadays there’s legalized, now you want a complete ban? Then people go back to illegal,” he said.
Effective regulations needed
Ravelas said gambling culture will not disappear overnight, and its impact is especially acute as the country grapples with higher prices and slowing growth.
Instead of a ban, Ravelas said stricter regulations are needed to control gambling, particularly among more economically vulnerable sectors.
Although technology has made it easier for people to spend through mobile wallets, Ravelas said tighter rules can keep things under control.
He suggested capping mobile wallet spending to P300–P500 a month and requiring more prominent risk disclaimers in gaming advertisements.
“I think people are being short-sighted and have forgotten that this was our problem during Erap’s time,” he said.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
