How much Money does Sabong Online Earn?

How much does online sabong earn? One of the sites that Atong Ang owns is legitimately allowed to run online sabong or e-sabong. Everyone is aware of his substantial earnings, but did you realize that he brings in billions each month?


 

Atong Ang Earns Billion in e-Sabong Each Month

When Charlie “Atong” Ang revealed that his e-sabong business makes almost Php3 billion in commissions each month, everyone was in awe.

Ang was one of the people summoned in for questioning before the senate hearing on the subject because Lucky 8 Star Quest Inc. has been accused of being one of the online sabong firms responsible for the disappearances of “sabungeros.” The missing sabungeros, while not a subject of national concern, caught the senate’s attention because several “wealthy and influential” individuals, including Ang, were accused of being involved in the incident.

However, PAGCOR (Philippine Amusement and Gaming Corporation) is opposed to the concept, claiming that the government would lose millions of dollars in revenue from the online sabong taxes if e-sabong licenses were suspended as some senators have demanded.

PAGCOR receives as much as Php640 million from e-sabong each month.

Ang acknowledges during the Senate hearing that they can receive up to Php2 billion in bets daily, or a total of Php60 billion every month. They make about 5% of this, or about Php3 billion per month.

They make “Php3 billion, more or less, a month,” Ang acknowledges.

However, Ang was eager to clarify that he doesn’t keep all of that cash. The majority of it, or about Php2.5 billion, instead goes to their agents. Additionally, 1% of the commissions are allocated to the company’s costs.

About 900 million Philippine Pesos are left after all those costs.

Senate Minority Leader Franklin Drilon wants to raise the taxes that are collected for these companies after learning this.

 

“Kung P3 billion ang kinikita ng Lucky 8, baka po payat ang P640 million na sinasabi ng PAGCOR na kanilang income dito sa e-sabong,” he said.

 

“Uulitin ko lang, P3 billion per month even assuming that you incur expenses on this, P640 million per month of revenue by PAGCOR is pittance, is very small compared to the gross income of Lucky 8.”


 

Philippine e-Sabong Companies

There are now seven e-sabong businesses that can legally operate in the Philippines as of February 23, 2022:

 

  • Lucky 8 Star Quest Inc. (owned by Atong Ang)
  • Belvedere Vista Corporation
  • Visayas Cockers Club, Inc Jade Entertainment And Gaming Technologies, Inc.
  • Newin Cockers Alliance Gaming Corporation
  • Philippine Cockfighting International Inc.
  • Golden Buzzer, Inc

 

 

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Reference

www.businessnews.com.ph

 

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