Updated Cost of Setting Up a Lotto Outlet
- Installation Fee- 10,000 Pesos; paid to the telecommunications carrier
- Processing Fee- 1,700 Pesos; payable to PCSO
- Cash Bond- 500,000; earns interest annually or
- Surety Bond- 5,995.37 Pesos; to be renewed annually
Full Answer
Is lotto outlet need business permit?
Authorized Agent Corporations (AACs) operating Small Town Lottery (STL) need not acquire a business permit or license from the city hall, the Philippine Charity Sweepstakes Office (PCSO) clarified.
How much is the commission of lotto agent?
A PCSO Lotto Agent earns 5% commission on sales. Thus, if you sell 500,000 Pesos worth of lotto tickets, your total commission for the month would be 25,000 Pesos. As a proprietor of a lotto business, your success also lies in numbers!
Is PCSO a franchise?
Philippine Charity Sweepstakes Office (PCSO) Lotto Franchise Application Process. The applicant must be Filipino and at least 21 years old. You need to submit a letter of intent, with a location map and photos of the proposed site for your PSCO stand.
How many lotto outlets are there in the Philippines?
Of these, 7,768 are lotto outlets; 13,320 are small-town lottery kiosks; 2,194 are Peryahan ng Bayan outlets; and 472 are Keno shops.
How to franchise lotto outlet in the Philippines?
First, a lotto agent must be Filipino and at least 21 years old. If you are, you'll have to submit a letter of intent, with a location map and photos of the proposed site for your PSCO stand. 2. Then, PCSO will inspect your proposed site to evaluate potential sales and communication facilities in the area.
What is cash bond in lotto outlet?
She said the bond for lotto outlet agency applicants in municipalities is now only P100,000, P200,000 in cities and P300,000 in chartered cities. Previously, the bond was set at a uniform P300,000.
How do I register for Lotto outlet Bir?
Lotto application form. Application fee of Php2,500....For individual applicants:Any 2 valid IDs.Three (3) latest ID pictures (2×2) of applicant and spouse, if applicable.Birth certificate (of applicant)NBI clearance.Barangay clearance (personal record)More items...•
How much is the franchise of ZAGU in the Philippines?
AUTHORIZED DEALERSHIP FEATURES P650, 000 – P850, 000 approximate investment package depending on the type of store operation.
How do you make a franchise?
How to Franchise a BusinessMake sure your business is ready to franchise.Protect your business's intellectual property.Prepare a financial disclosure document (FDD)Draft a franchise agreement.Compile an operational manual for franchisees.File or register your FDD.Set a strategy to achieve your sales goals.
How do I become an authorized agent of PCSO?
Every Filipino aged at least 21 years old is eligible to apply to become an authorized PCSO lotto agent. Initial documentary requirements are: letter of intent, location map of the proposed location, and photos of the area of the proposed location.
What kind of agency is PCSO?
government agencyThe Philippine Charity Sweepstakes Office (PCSO) is the principal government agency for raising and providing funds for health programs, medical assistance and services, and charities of national character.
How do I claim my PCSO lottery?
How to Claim PCSO Lotto Jackpot PrizeGo to the PCSO Main Office.Present two valid IDs and the winning ticket to the Prize Claim section of the Accounting and Budget Department.Fill out the required forms. ... Once the ticket is verified, the Treasury Department will issue a check with the winner's name.
How do lottery companies make money?
Lottery retailers collect commissions on the tickets they sell and also cash in when they sell a winning ticket, usually in the form of an award or bonus.
How much do NY lottery retailers make?
Lottery Sales Commission by StateStateCommission on Ticket SalesWinning Ticket BonusesNew Jersey5% on sales$30,000 on jackpot ticketNew Mexico6% on each ticket sold$50,000 on a jackpot ticketNew York6% with no capNoneNorth Carolina7% sales commission$50,000 on a jackpot ticket40 more rows•Aug 5, 2019
How do I become a Baba Ijebu agent?
On the processes of becoming a sub-agent, Femi said that all anyone who wants to become an agent needs to do is contact a principal agent of Baba Ijebu to help get and register a terminal for the person to start selling tickets.
How can I get Kerala lottery agency?
Any Keralaite who is above the age of 18 can become an agent of Kerala State Lotteries . A person who applies in the prescribed form along with the necessary fees of Rs 335/- (Three Hundred and Thirty Five only) and two passport size photos at the District Lottery Offices can become an agent.
How much commission do lotto agents get?
Lotto agents earn 5% commission per sale. But the PCSO also requires lotto agents to reach a certain sales quota per month in order for the outlet to continue operating. In Metro Manila, the quota is said to be P300,000 to P600,000 every month depending on the location.
How old do you have to be to be a lotto agent?
How to Apply to Become a Lotto Agent. 1. The prospective lotto agent must be Filipino and at least 21 years old. Submit a letter of intent with a location map and photos of your proposed PCSO lotto outlet. 2.
How far away from a lotto can PCSO inspect?
2. PCSO will then inspect the proposed location and evaluate potential sales and communication facilities. The site must have significant foot traffic, not prone to flooding, at least 100 meters away from schools, churches, and other lotto outlets, and at least 5 meters away from pawnshops.
How much of PCSO profits go to charity?
Its Charter allows the PCSO to allot 30% of its net sales to the Charity Fund, while 55% is allotted to prizes, and the remaining 15% to operations.
Where did PCSO get its franchise?
PCSO got its franchise from the Philippine Congress and those interested to operate their own outlets are called “lotto agents.” That doesn’t mean, though, that as lotto agents you won’t have to shell out money.
Do lotto outlets need to be enclosed?
For security reasons, all lotto outlets should be enclosed and must be facing the direction of human traffic/entry. Frontage must face the main hallway/corridor or to the direction of major traffic flow. 6. Outlets located within a commercial building or complexes, with 24-hour security, need not be enclosed.
Who installs the terminal for Lotto booth?
PCSO will inform the applicant that they need to construct the lotto booth with regards to the requirements of PCSO. The terminal will be installed by PCSO.
What is the Philippine Charity Sweepstakes Office?
The Philippine Charity Sweepstakes Office (PCSO) is the principal government agency for raising and providing funds for health programs, medical assistance and services, and charities of national character.
Is a lottery location enclosed?
Frontage must face main road or to the direction of major traffic flow. In cases of malls, shopping centers or superstores, the lottery location need not be enclosed provided there is security of operation, especially after store hours.
Is PCSO lotto popular?
PCSO lotto outlets are popular all the time and you will always see a line for anyone to play and get a chance to win hundreds of pesos.
What is a PCSO Lotto franchise?
PCSO Lotto Franchise: A Quick Background. PCSO stands for Philippine Charity Sweepstakes Office , which is a government-owned company. Since its run by the government, it leaves us less worries regarding the legalities of the business. However – you should be careful when trying to get a license, since there many scammers out there pretending ...
What is the N ext stage of Lotto?
N ext stage, PCSO will inform and instruct you to construct the lotto booth, and you’ll of course have to follow the PCSO’s strict requirements, such as colors, floor space, etc. The terminal itself will then be installed by the PCSO. 4. After installation of the terminal, you’ll have to pay the processing and installation fee.
What does PCSO do for Lotto?
One of the nice things about being a Lotto outlet franchise – is that the PCSO takes care of a lot of stuff for you, like the telecom fees, the terminal rental and service fees (hardware and software). They also provide you with the supply of betting slips and thermal rolls, free of charge. You won’t have to pay for any of these. You will of course need to pay for the rent of your space, electricity, staff wages, etc.
Who dreams of winning the lottery?
Everyone dreams of winning the Lotto. Photo from Pexels.com
Is a Lotto Outlet Franchise a Bullet-Proof Business?
Well, over the years, owning a Lotto Franchise Business has pretty much proven to withstand even the worse economic times. Why you may ask? It’s very simple: During bad economic times, people actually look for hope anywhere they can find it, and the Lotto is definitely a great place to find hope.
How far away from a lotto outlet is a lotto?
Criteria in Choosing a Lotto Outlet. The PCSO has strict guidelines and requirements when it comes to the Lotto site, below are the details: Distance requirements are as follows: for existing lotto outlets, the other lotto site should be at least 50 meters away (minimum required) from each other. It should also be at least 100 meters away ...
What is a PCSO Lotto?
The Lotto is governed by the Philippine Charity Sweepstakes Office or commonly known as the PCSO in which its major commitment is to provide charity to the Filipino people. Specifically, its mission is to generate funds for health programs and charities of national character through charity sweepstakes races, lotteries and other similar activities. That is why becoming an on-line lotto agent is also a noble business venture as you are not only earning but at the same time you are helping the country to move forward. A PCSO Lotto Outlet Business also does not only provide you income but gives you a sense of accomplishment as you offer opportunities for the people in your community.
How far away from a lotto should you be?
Distance requirements are as follows: for existing lotto outlets, the other lotto site should be at least 50 meters away (minimum required) from each other. It should also be at least 100 meters away from schools (both elementary and secondary)
How old do you have to be to apply for a Filipino business license?
First of all you need to be a Filipino citizen and at least 21 years old at the time of application if you will be an individual applicant. For corporation, the business should be duly registered and existing under Philippine laws and the ownership should be 100% Filipino.
