188BET Moves Operations from Isle of Man to the Philippines
LISTEN TO THIS ARTICLE:188BET, the Asian bookmaker, has announced it is to relocate the company’s operations from the Isle of Man to the Philippines. The operator will be licensed by the Philippine Amusement and Gaming Corp (PAGCOR), and the change will start on the 19th of March this year.
In the statement 188BET, let customers know the company would try to make the change seamless. The bookmaker highlighted that PAGCOR has stringent compliance rules on responsible gaming which reflected 188BET’s commitment to providing a safe environment for its customers.
This move marks the end of a link between 188BET and the Isle of Man GSC going back to 2007 when the operator first took out a gaming license in the jurisdiction. It was one of the first bookmakers from the Asian region that sought to base its gaming operations in the Isle of Man.
188BET is currently operated by Cube Limited and licensed by the Isle of Man Gambling Supervision Commission (IoMGSC). Effective from 00:00:00 hrs (GMT-4) on 19 March 2024 Cube Limited will surrender its IoMGSC license and the business of 188BET will be operated by a new Philippines-based company, BestCommerce Corporation, which is licensed and regulated by PAGCOR.
New Jurisdiction Affects the Minimum Age of Customers
The change in its business location will have an impact on the gaming operator because of the different compliance guidelines in the two regions.
Under the PAGCOR gambling framework in the region, the minimum age to bet is 21. This is up three years from the Isle of Man where gaming licenses stipulate players must be at least 18 years old. 188Bet says it has written to all its customers who are under 21 to notify them they will be prohibited from gambling in the Philippines. Any players under 21 following the relocation will have their funds returned to them and their accounts closed.
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