| According to PRNewswire, Betandwin.com, Interactive Entertainment AG, the Vienna and Gibraltar based online betting, gambling information and entertainment company (BWIN on the Vienna Stock Exchange), is expanding its interests into the Philippines, and from there will launch into markets further in Asia. Their plan it to develop distribution of its services to countries with potentially good markets which are underdeveloped as betting markets. |
Asia has won their attention especially as the World Soccer Championships will be held in Japan and Korea in 2002. An online sports betting service will be needed for Asians huge population. Only a few governments in Asia are prepared to regulate the industry or, on the other hand, to cooperate with it. The Philippines government is one such cooperative, unregulating government and therefore the Philippines is the suitable market for betandwin.comís Asia expansion launch.
Gambling is an established pastime with the Philippine people. The government itself owns the ''Philippine Amusement and Gaming Corporation'' (PAGCOR), which issues all the licenses for gambling businesses.
From its population of about 80 million, and from other gamblers from Hong Kong and countries such as Malaysia, Taiwan, Indonesia and Singapore, EUR 584 million were made in gambling activities in 2000, most of it from the 11 PAGCOR run casinos. Most Filipinos speak English and enjoy unrestricted (but underdeveloped) access to gambling on basketball, boxing, pool, billiards, soccer, and the top events in golf, tennis, American football, cricket, baseball, Formula 1 racing, and motorcycle racing.