PCSO increases lotto consolation prize to P24

The Philippine Charity Sweepstakes Office (PCSO) said on Tuesday that it has approved the increase of the lotto consolation prize from P20 to P24.

This covers lotto bettors who will get three correct numbers for each ticket.

“The Gaming Sector looked for ways where we can get the additional P4 para naman maibalik ito sa mga players,” PCSO assistant general manager for Gaming Sector Arnel Casas said in a statement.

“Matagal na nilang request na ibalik, dagdagan, o gawin man lang P24 ‘yung consolation prize,” he added.

Sought for details, PCSO deputy spokesman Florante Solmerin said the consolation prize would be imposed “soon.”

“Anytime soon once i-release na ang board resolution for implementation by the general manager,” he said in a text message.

Under the Tax Reform for Acceleration and Inclusion (TRAIN) Law, lottery tickets were subjected to higher document stamp taxes (DST), prompting the PCSO to impose a new price scheme for lotto and other gaming ticket.

With this, prices of tickets were changed from P5 to P6, P10 to P12, and P20 to P24.

The low tier prize —  when a player gets three correct out of six numbers — however, remained at P20.

Previously, bettors could exchange their “winning” lotto ticket for a new bet, but with the higher ticket prices, they need to add P4.

“Salamat sa Board, kaka-approve lang last week so we expect na with this, madadagdagan ang sales natin sa Lotto, which is P31,902,529,360 in 2018,” said Casas.

“Request ‘yan ng players natin kasi gusto nila lagi silang may ticket dahil may mga alaga silang numero,” he added.

According to Casas, the P24 consolation prize was also requested by lotto agents.

“Yung mga Lotto agents natin nag-request din. Hindi man ma-increase ang kanilang commission, maibalik man lang ‘yung consolation prize kasi this will redound to additional sales,” he explained.

The PCSO is a government-owned and controlled corporation (GOCC) mandated to raise and provide funds for health programs, medical assistance and services, and charities of national character.

Under its charter, the PCSO must allocate 55 percent of its revenues for prizes, 30 percent for its charity fund, and 15 percent for operational expenses. —LDF/BM, GMA News