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Online gambling is on the rise for long years, but it was a more recent surge in popularity when it comes to Asia and the Philippines included. A report released by listed online gambling company, PhilWeb Corporation, shows earnings for year 2008 rose 31 percent compared to the previous year. The positive numbers are attributed to excellent results posted by the Philippine Amusement and Gaming Corp. e-Games Cafe network (PAGCOR). PhilWeb Corporation operates 121 such cafes, including 45 that have opened in 2008. Definitely a show of strength by the gaming market. Dennis Valdes, president of PhilWeb, said: "Clearly consumers are gradually noticing our cafes as their number increases, and the almost 20,000 gamblers that play with us daily are pleased with the gaming and entertainment products we offer."
Will Leonardo DiCaprio bring the buzz to new levels with all that regards online gambling? Can online gambling even enjoy greater buzz? These questions will be answered in the box offices at a time soon, as the new Paramount Pictures movie will come out starring the Hollywood star. DiCaprio, star of Titanic and Blood Diamond, two examples of movies that became the talk of newspapers and office water fountains the world over, will surely do it again. The movie, the release date of which is yet to be determined, will take place in Costa Rica, where many online casinos are located, and from where they cater to the entire world, as well as to the North American market, which can serve as a possible theme in the movie. Other gambling and casino related movies that have left their mark at cinemas, among viewers and in pop culture at large include Rounders, Ocean 11, and 21, to name but a few.
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PhilWeb is the first and the largest listed internet company operating in the Philippines. This effectively makes it the alpha-male technology gaming entity in the country. Phil Web provides the principal technology to PAGCOR, which is the official Philippines' regulatory agency for all gambling games. Gambling is big business in Asia The Philippine Amusement Gaming Corporation (PAGCOR) has some 159 e-Games café networks operating as of the third quarter in 2009, as opposed to 108 e-Games café networks at the same time a year ago. PAGCOR also owns and operates Internet Sports Betting Stations. The resulting surging profits, driven by the e-Gaming expansion, have boosted PhilWeb's net earnings to $3.1 million. PhilWeb provides solutions The company is rapidly expanding its market share, thanks largely to being a partner of PAGCOR - the regulatory agency for all games of chance in the Philippines. With the Asian gambling market showing robust growth - largely attributed to China's rising middle class affluence, the Philippines is picking up a lot of the residual and primary business. Many large brick and mortar casinos have opened up in the Philippines, promising as much action in Asia as Las Vegas provides in America. Now PhilWeb is generating more same-store income by expanding their product lines. They are making a concerted effort to remodel their stores, raise their standards and even throw in some high-roller facilities. It's all part of PhilWeb's strategy to improve its operations ability and raise its bottom line. The company's sports betting unit will soon provide NBA games sports betting. The mobile gaming division of PhilWeb will relaunch the Premyo Sa Resibo program as Instant Premyo Sa Resibo.
Orient Capital Ventures Inc (OCVI), based in Manila, recently secured a license from PAGCOR to operate a sportsbook and selected iBroker from Global Betting Exchange (GBE) as its sportsbook software. OMVI operates as a subsidiary of AsianLogic Limited which is one of the leading online and land based gaming operators in the Asia Pacific region. GBE is an Irish-based provider of online exchange and sportsbook software and regards its partnership with OMVI as a huge endorsement of its iBroker product and its own global operational abilities. GBE will deliver a full sports betting solution to OCVI including retail, telephone and SMS betting services. The retail portion of the operation is being introduced to OCVI outlets and its local operating partners under the 'MegaSportsWorld' brand. The new sportsbook passed its biggest test so far last weekend with flying colors. The huge number of one-sided bets wagered on the Pacquiao-Cotto fight was apparently handled by the system without a hitch.
The Philippines is home to some of the most positive news in the global gambling industry. With surging earnings, rising profits and an online gaming industry that is rapidly gaining momentum, things are certainly looking up. Top companies posting strong results Leading the charge is a local Philippines gambling company named PhilWeb Corp. News from their head office suggests that the firm is expecting P 1 billion in earnings in 2010. This strong showing is in response to wise investments in 2009. PhilWeb Corp reflected over P550 million in earnings in 2009 - an 89% spike from their 2008 figures. The company is a top player in the i-Gaming sector and enables Pagcor's (Philippine Amusement and Gaming Corp.) e-Games café system and Sports Betting Stations to function. PhilWeb Corp is looking to expand into the Acentic network - a German corporation - comprising over 200,000 rooms, and partner with ISM in developing Acentic's strategic reach into Asia. The Philippine Lotto posts stellar returns The online lottery system provider of the Philippine Charity Sweepstakes Office in Visayas and Mindanao reported that their total sales rose 18.5% to P7.69 billion in 2009. The jump of P1.2 billion from 2008 figures is largely due to the large-scale development of lotto outlets. The number of betting terminals reached 1,748 in 2009 from a modest 1,500 in 2008. But Keno sales are up too, making the Philippines a true juggernaut in global online gambling circles. Keno sales of PCSO rose sharply from P32.3 million in 2008 to P88.67 million in 2009. Super Lotto Winner Nabs the Loot Meanwhile back in Manila, a bettor from Luzon correctly predicted the winning combo of the 6/49 Super Lotto and as a result pocketed its P111 million jackpot. He guessed all 6 numbers - 15-27-17-37-18 and 11.
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