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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. At that time, due to no major prize winners, the return was only a little over 60 percent. 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....

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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%.“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.Although the odds of winning on any ticket were the same for the first, last, and any unsold tickets – one game, The Good Life, should have seen 78 percent of revenue returned to players in prize money....

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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”.PEZA director general Charito Plaza addressed a letter to the president explaining that, “…online gaming or online gambling or any form of gambling operation is not registrable with PEZA and is not allowed by PEZA,” according to reports.In the case of The Good Life, “approximate odds” were met, according to a statement attributed to IGT by the Tribune....

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“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.“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. In that scenario, a small percentage of every bet goes to feed the progressive jackpot....

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A PhilWeb Corp.Northstar Lottery Group became the first private firm in the United States to r 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”....