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In that scenario, a small percentage of every bet goes to feed the progressive jackpot.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 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%....
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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. 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”....
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Those prizes were never awarded.”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.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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Ongpin sold his shares to Gregorio Ma.“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.Northstar Lottery Group, majority owned by world lottery heavyweight IGT in association with Scientific Games Corp is being questioned about instant win games that didn’t deliver the promised return to player percentages (RTP) due to the games being pulled before enough tickeslots village games kwwmts were sold to award major prizes....
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A PhilWeb Corp.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.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....
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