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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.Earlier reports suggested that Duterte was going after the Philippine Economic Zone Authority (PEZA) for being corrupt and issuing gambling licenses in its economic zones.“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....
Earlier reports suggested that Duterte was going after the Philippine Economic Zone Authority (PEZA) for being corrupt and issuing gambling licenses in its economic zones. Plaza pointed out that Lam was not operating in a zone administered by Peza, but in the Clark Freeport Zone, which is administered by Clark Development Corp.According to the report, the Tribune found that more than 40 percent of grand prizes, 23 jackpots in total, were not awarded in Illinois – a much higher incidence than other state lotteries have reported....
Some million in smaller prizes had been awarded when the game was pulled, but two behemoth jackpots stayed unsold or at least unclaimed., spokesman defended their position in the market by stating that none of the eGames outlet games can be accessed from homes or offices and each of the more than 250 outlets, serving up casino games, slots, and sports betting, is directly licensed by Pagcor, and that PhilWeb only provides software to Pagcor for individual entrepreneurs to operate the businesses. Plaza pointed out that Lam was not operating in a zone administered by Peza, but in the Clark Freeport Zone, which is administered by Clark Development Corp....
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.“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%....
Plaza pointed out that Lam was not operating in a zone administered by Peza, but in the Clark Freeport Zone, which is administered by Clark Development Corp. For the price of a ticket, two random players were promised a chance to win ,000 per year for 30 years, or million each.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....
