$500 Million payout for Philippines is the largest ever in the Philippines’ poker scene, according to the country’s government.
The Philippine Government announced Tuesday that it would award $500m to help Filipino poker players prepare for the 2022 World Series of Poker in Manila.
It was announced by President Rodrigo Duterte.
It will also provide $50m in funding to help establish new facilities in Manila for poker, and $1.5m to build a tournament hall at a local casino, the Philippine Sports Commission said in a statement.
The Philippines won the first World Series in 2019.
The Philippines is ranked 11th in the world by poker rankings, with more than 5,000 players playing the game.
The announcement came hours after the Philippine government announced a $5m bonus for all poker players in the country who make at least $500,000 a year.
The stakes in the 2022 tournament were expected to be in the low hundreds of thousands of pesos ($4,000).
The Philippines will also be hosting the tournament for the first time, which will include an opening day of games in Manila and a final day of play in the capital, Manila.