PCSO to slash lotto ticket price from P24 to P20

The Philippine Charity Sweepstakes Office will revert to P20 the lotto ticket price from P24, once the gaming operation resumes, according to a report of Dobol B sa News TV on Sunday.

"Babalik po kami ng P20 inclusive na po ang VAT (value-added tax),” PCSO General Manger Royina Garma said.

In 2018, PCSO increased the lotto ticket price from P20 to P24.  Under the Tax Reform for Acceleration and Inclusion (TRAIN) Law, lottery tickets were subjected to higher document stamp taxes, prompting the PCSO to increase the prices of lotto.

Aside from this, Garma said PCSO will change its regulation on giving consolation prizes. She said the amount of consolation prize will be given to each winning bettor instead of splitting it among them.

“Except for jackpot prize, ‘yung other consolation prizes po, kung ano po ‘yung amount sa consolation prize ‘yun din po ang matatanggap ng ating mananaya,” she said.

To encourage business people to invest in the lottery, the PCSO also reduced the requirement for franchise of lotto outlet business.

The cash bond required in Manila is P300,000, while P200,000 in cities and P100,000 in municipalities, Garma said.

Due to the threat of COVID-19, the gaming operation of PCSO has been suspended since March. Garma said PCSO already appealed to the Inter-Agency Task Force to let the gaming operation resume three weeks ago.

“Sana po, so, kung napag-uusapan na, ibig pong sabihin na nabasa po nila ‘yung request namin at ito'y inaaral na rin po nila kung safe na bang ibalik ‘yung palaro,” she said.

Due to the suspended operation, the PCSO lost P12 billion to P13 billion in revenues. Around 7,000 lotto agents and 220,000 small town lottery operators were also affected. —LBG, GMA News