With the rise of the popularity of online gambling casinos, people are taking advantage of this situation in order to elicit illegal activities. From what I know, in the Philippines, gambling company will not be operated if there are no corresponding licenses provided by the government. In addition, there must be some law allowing the privilege for the use of such franchise or operation of this gambling casino, which makes it relatively difficult for people to operate here.
There isn't an agency responsible for this matter yet, because the regulatory guidelines aren't clear enough about online gambling in the country yet (grey area).
However, there are news saying the governments is willing to regulate it in details this year, due to the raising popularity of sports betting services and frauds involved on the process by scammers.
I believe by the end of this year we are already going to have more updates regards gambling regulations here, although I'm fearful, because it was also said companies will have to be based on the country to be allowed to operate.
I agree with you. This space is relatively new especially that its popularity started during the covid pandemic. The government started to realize that majority of the people preferred to gamble online. That is why, they have to strengthen their regulations against money laundering and other similar illegal means.