Cagayan Freeport, a special investment zone in the Philippines, is using the gaming provisions in its charter to capture a slice of the estimated US$12bn wagered over the internet each year, according to a new Bloomberg report.
Despite the fact that most Asian countries ban web casinos, internet gaming is a regulatory grey area in China, as laws banning gambling were framed before the internet existed and don’t clearly outlaw online casinos.
As such, those in search of jobs are reportedly flocking to special investment zones such as Cagayan, which are employing proxy bettors to make wagers of behalf of patrons who reside in areas where they cannot legally gamble.
