Each Pinoy bet to Paris given P2M each

PRESIDENT Marcos Jr. handed P1 million last night to each Filipino athlete who participated in the 2024 Paris Olympics in recognition of their hard work and achievement of representing the country in the international competition.

The President said another P1 million would be given to each Olympian by the Philippine Amusement and Gaming Corporation (Pagcor).

Marcos said P500,000 would also be given by the Office of the President to the coaching staff of each Olympians.

“I think any athletes, kahit sinong atleta dito sa Pilipinas, o kung saan man lang, na makapag-qualify sa Olympics mabigat iyun, that is an extremely difficult achievement to have manage, so that’s why… lahat naman ng atleta natin bigyan natin basta nag-Olympian, bigyan natin ng aig-i-isang milyon,” he said during the dinner reception for the Filipino athletes held in Malacanang.

“Hihingi ako ng paumanhin ninyo dahil maliit lang, at alam ko na yung isang milyong piso, halimbawa ay ikumpara mo sa inyong sakripisyo, ikumpara ninyo sa inyong pinagdaanan,ikumpara ninyo napakaliit lang. Pero ngayon lang ito, iyung gagawin natin,” he added.

Under Republic Act 10699, only the medalists are usually given financial incentives.

Medalists receive P10 million for gold, P5 million for silver and P2 million for bronze.

The President handed double gold medalist Carlos Yulo P20 million and awarded the Presidential Citation for being the first Filipino to win the gold in the Olympics for gymnastics.

Yulo bagged golds in the men’s vault and floor exercise.

Marcos also handed P2 million each and presidential citations to Filipina boxers Nesthy Petecio and Aira Villegas who both won the bronze in the featherweight and flyweight categories, respectively.

Only 17 of the 22 Filipino athletes who represented the Philippines in the 2024 Paris Olympics attended the dinner reception in Malacanang.