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“The one who gets appointed to PEZA (Philippine Economic Zone Authority), he gets about P300 billion (about USb) selling the umbrella-type of license,” the President said.“The one who gets appointed to PEZA (Philippine Economic Zone Authority), he gets about P300 billion (about USb) selling the umbrella-type of license,” the President said. For the price of a ticket, two random players were promised a chance to win ,000 per year for 30 years, or million each....
Those prizes were never awarded.“The one who gets appointed to PEZA (Philippine Economic Zone Authority), he gets about P300 billion (about USb) selling the umbrella-type of license,” the President said. The base game may return as low as 85% to players in smaller prizes, while the massive multi-million dollar progressive being awarded might bring the overall RTP up to 95%....
An analogy that may help differentiate between “odds” and “RTP” and whether the practice was fair, is to imagine playing a slots game with a progressive jackpot that must trigger by a certain dollar amount.A PhilWeb Corp.“We wish to assure the President that his policy of not registering online gaming or online gambling in PEZA will not change and will continue as PEZA is one with the President in his conviction that any form of online gaming or online gambling will not benefit the country and the Filipino people,” said Plaza....
If that game were pulled before the progressive jackpot was won, players who had contributed to the rising big prize may feel they didn’t get their money’s worth. Ongpin sold his shares to Gregorio Ma.”Justice Secretary Vitaliano Aguirre II has reportedly clarified that the president was referring to the Cagayan Economic Zone Authority (CEZA), the regulator that actually licensed Asian-facing online casinos there in the past, prior to Pagcor’s take-over of the revenue stream....
At that time, due to no major prize winners, the return was only a little over 60 percent. For the price of a ticket, two random players were promised a chance to win ,000 per year for 30 years, or million each.s had nothing to fear, and that he would soon have an executive order from the president appointing Aguirre as the head of a new online task force and defining the agency’s power and authority....
