Sweepstakes draw hit record sales
FOR the first time in many years, the sweepstakes ticket—which is the original baby of the Philippine Charity Sweepstakes Office (PCSO)—hit a record sales of P9 million four days before its scheduled draw.
In a report to the PCSO board, the manager for the sales department, Carlos M. Castillo, said that all tickets printed for the December 19, 2010, draw for the benefit of Ephephta Foundation for the Blind, were all sold at the close of the sales deadline.
A total of 25,000 booklets were sold generating a total sales of P9 million for the special sweepstakes draw.
Maggie Juico, PCSO chair, said 80 percent of the charity fund generated from the draw has been committed to the Ephephta Foundation. This is in addition to the quarterly financial support PCSO gives the organization.
The lucky winner stands to get P3 million; second prize gets, P500,000; third, P200,000; and the for two fourth prize winners each get P75,000.
Records also showed that from January to June 2010, a total of P72,351,428.58 have been remitted by the distributors of instant tickets as PCSO’s guaranteed share from the sale.
For the July to December 2010 period, PCSO’s guaranteed share from the sale of instant tickets is expected to reach P106,071,428,58.
For over fifty years the traditional Sweepstakes was the PCSO’s sole source of revenue until the agency introduced innovations to generate additional sources of funds.
The PCSO’s first innovation was the Instant Sweepstakes, a variant of the national lottery game. Patterned after a similar game in the United States of America which contributed $476 million to the US Department of Education, the Instant Sweepstakes was launched in mid-1987.
By the end of the year, Instant Sweepstakes was able to generate an additional P27 million for the PCSO Charity Fund.