Following the Bangko Sentral ng Pilipinas’ (BSP) directive for e-wallets to cut ties with in-app online gambling platforms, gamblers have simply migrated to unregulated gambling sites, a study found.

Results from The Fourth Wall, a sociocultural research and analysis firm based in Manila, showed that regulated online gambling platforms saw a 70-percent decline in players, while unregulated sites recorded a 40-percent increase after the directive was issued last week.

“Trends suggest that these unregulated platforms will continue expanding, drawing in players who exit regulated channels,” The Fourth Wall said in an Aug. 20 report, banking on the correlation it has found between unlinking of e-wallets and gambling platforms.

“Dependence on e-wallets also drives migration to unregulated platforms where their preferred payment option remains available,” the research firm added.

Further, gamblers who rely on e-wallets are twice as likely to move to unregulated platforms (40 percent) compared to those who do not (19 percent) when e-wallets are removed from regulated sites.

According to The Fourth Wall research director John Brylle L. Bae, the firm’s latest study shows the major role e-wallets play in shaping online gambling behavior.

“When links to regulated platforms were removed, activity shifted toward unregulated platforms rather than declining overall, unintentionally redirecting players to riskier environments,” Bae said.

He said this shows that payment channels can shape how gamblers view the legitimacy of platforms.

“Future discussions on online gambling regulation should move beyond bans alone and consider how trusted tools like e-wallets shape behavior and perceptions, and the importance of addressing both access points and user perceptions when designing safeguards,” Bae said.

More than 1,000 current online gamblers were surveyed across Mega Manila, Metro Cebu, Metro Davao, and other urban areas.

Based on the research firm’s earlier study, gamblers link e-wallets with safety and trust, with 73 percent of users confident in their age and identity checks, and 64 percent saying the platforms help them manage spending and play responsibly.

The same study also found a stronger preference for e-wallets compared to over-the-counter payment outlets.

In a separate study, the firm noted differences between regulated and unregulated online gambling sites, including unverified games, absence of know-your-customer (KYC) checks, more aggressive marketing and affiliate schemes, and inconsistent customer support.

“These differences expose players to various risks, including excessive financial losses, scams, fraud, and privacy issues from spam texts,” The Fourth Wall said.

To recall, the central bank ordered all BSP-supervised financial institutions (BSFIs) last week to unlink online gambling platforms in response to the surge in online gambling transactions, their impact on consumers’ finances and families, and the wider social cost.

For their part, e-wallets GCash and Maya removed all links redirecting users to online gambling sites in compliance with the directive. The central bank said that the suspension “will remain in place until the BSP finalizes the policy on online gambling payment services.”