Lotto-crazy Filipinos will have a new lottery to line up for starting next month once the Philippine Charity Sweepstakes Office (PCSO) launches its “Power Lotto” draw where the minimum prize money starts at P50 million.
But there's a catch: To be able to start with such a large pot, organizers will have to charge clients P50 per bet -- 400 percent more than the charge for a regular and Mega Lotto bet and 150-percent more than the P20 Super Lotto fee. And the chance of winning is one in 34.7 million.
This was disclosed to reporters on Wednesday by Pacific Online System Corp. chairman and president Willy N. Ocier in the course of detailing the company's plans for this year.
According to him, the game is targeted at the more affluent “AB segment” of the betting market, which according to organizers' observations, tends to place bets only after the accumulated lotto prize money breaches the P50-million mark.