The Philippine Peso’s History The Philippine Peso is the official currency of the Philippines. You might find that it’s also often referred to by its Filipino name, Piso. As you might have guessed, the Philippine peso originated from the Spanish peso. These coins made their way from Spanish America between the 16th and 19th centuries because of the Manila galleons. It’s easy to say that the currency has an extensive history and has gone through many changes in its time. These days, the...
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The Philippine Peso’s History

The Philippine Peso is the official currency of the Philippines. You might find that it’s also often referred to by its Filipino name, Piso. As you might have guessed, the Philippine peso originated from the Spanish peso. These coins made their way from Spanish America between the 16th and 19th centuries because of the Manila galleons. It’s easy to say that the currency has an extensive history and has gone through many changes in its time. These days, the country’s monetary policy is run by the Bangko Sentral ng Pilipinas, which produces all the banknotes and coins within it.

At the moment, there are nine commonly used denominations of the Philippine peso. These include five banknotes and four coins. The banknotes are 20, 50, 100, 500, and 1,000 pesos. The others in the lineup consist of 1, 5, 10, and 20 pesos coins. An interesting fact about the Philippine peso comes from its size. Since the 1 peso coin is similar in size to both the US quarter and 1 United Arab Emirates dirham, it’s been used for vending machine fraud in both countries!

How to Make Casino Deposits using Philippine Peso

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Filipinos have it pretty easy when online gambling is in question. They not only have access to some of the best sites on the global online casino market, but most of the popular payment options out there are available to them! On top of that, many of them offer support for the Philippine peso, making conversion fees obsolete! With so many excellent services available, choosing the best fit can be a daunting task. Luckily, we’ve curated a list of the best options you can go for:

  • MasterCard: You’re likely familiar with MasterCard. The service is one of the best-known bank cards right now, spanning a massive reach in nearly every country worldwide! As you can imagine, this means that the method is accepted in pretty much every online casino you can think of! MasterCard is well-established, safe, and reliable. The bad news is, that’s pretty much where the pros end. Compared to modern options like eWallets, it seems like bank cards can’t keep up in terms of processing speed
  • VISA: VISA is another bank card that finds itself at the top of the payment method food chain. As one of the leading payment services globally, VISA is available in most online gambling venues. Thanks to this, users have access to some of the best sites out there! The pros of using VISA are similar to those of MasterCard. Payments are safe and reliable, but they also suffer the same drawback. Unlike modern options, processing times feel drawn out.
  • Neteller: Neteller is another popular payment method that graces this list. Unlike the previous two, Neteller is a leading eWallet. Naturally, this comes with some excellent perks that Filipino players can use! First, using this method doesn’t incur massive fees. While some may be attached to particular transactions, they’re minuscule! Second, the processing times players can expect when using the service are practically non-existent. Combined with the general anonymity eWallets grant, Neteller is a top choice for plenty of casino lovers.
  • Skrill: Much like Neteller, Skrill is an eWallet widely used worldwide. Interestingly, both of these services come from the same company! The perks you get from using Skrill are plenty. It offers low fees, quick transactions, secure payments, and much more! All of these benefits make using Skrill a no-brainer, but unlike some of the popular bank card options, it’s not supported in as many venues.
  • WesternUnion: Western Union might not be the most convenient option on this list, but it’s still much better than most. While it’s best known for offering money transfer services through its many offices worldwide, these days, Western Union can be used online and by phone! Through the service, you can deposit at online casinos safely from anywhere! We should note that you can incur fees when making transactions. Before depositing, it’s best to check out the helpful tools Western Union offers to estimate them.

The Legality of Philippine Peso for Online Gambling

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Gambling in the Philippines comes with a particular set of rules. In most of the country, gambling is controlled by the state-owned Philippine Amusement and Gaming Corporation, or PAGCOR for short. It operates all land-based gambling venues, effectively imposing a monopoly on the market. When online gambling is in question, things may get a bit confusing. Players are free to gamble on foreign online betting sites without any repercussions. On the other hand, licensed Filipino companies are banned from offering online gambling services to citizens.

As you can imagine, the online gambling ban for licensed Filipino operators cuts PAGCOR out from offering online gambling and betting products! Essentially, Filipino players can bet online on any operator, except the one in their country. Thankfully, this isn’t too much of an issue as there are plenty of top-tier trusted sites players can visit.

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