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”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.“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....
“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.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. In that scenario, a small percentage of every bet goes to feed the progressive jackpot....
For the price of a ticket, two random players were promised a chance to win ,000 per year for 30 years, or million each.A PhilWeb Corp. PhilWeb lost its licenses in August but expects Pagcor to renew them under new leadership since Duterte singled out former majority owner Roberto Ongpin as an oligarch who must be “destroyed”....
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. Araneta III.“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....
“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.Some million in smaller prizes had been awarded when the game was pulled, but two behemoth jackpots stayed unsold or at least unclaimed.“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....
