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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”. Ongpin sold his shares to Gregorio Ma. Araneta III....

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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. Those prizes were never awarded. The game was pulled after only about 15 percent of tickets had been sold....

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Araneta III.Some million in smaller prizes had been awarded when the game was pulled, but two behemoth jackpots stayed unsold or at least unclaimed.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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Araneta III. Araneta III.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....