Can you please explain to me how to receive my payout?

To recieve your payout here in mylot you need to have a paypal account.
You need to open a bank account in Union bank coz they support paypal.
In your paypal account add your bank details.
Then when you recieve money from mylot, withdraw your money using your bank account number and after 3days your money will be transfer to your bank account.
hope it will not confused you.
Cheers.

The only way to get paid is through Paypal. I have attached my debit account to my Paypal. The myLot information says you get paid on or before the 15th of next month, I believe, and it is supposed to be automatic.

paypal is the one i am using get verified for it:)

Let's summarize what others have already said:
1. Get a paypal account. myLot can not pay you if you don't have Paypal account.
2. After registering at Paypal, submit your Paypal account at myLot. To do this, click the "Preference" tab at the upper right corner of this page. Go to the "Payment Information" section and enter your Paypal ID (the e-mail you used in registering with Paypal) in the space provided for. Confirm your Paypal e-mail then update the info.

To withdraw your money from Paypal, you have to do the following since you are from the Phiippines.
1. Verify your Paypal account. To do this, you must have your own debit or credit card. Not all debit cards (like BDO) are honored by Paypal, you have to check your local bank for this matter. But one thing for sure, Eon Card of Union bank is recognized by Paypal as a debit card.
Note: EonCyber account is different from the ordinary Union Bank accounts. The ATM card of your ordinary Union Bank savings account does not work as debit card at Paypal.

2. You must have a bank account to withdraw at Paypal for a minimal fee. You must add your bank account details to your Paypal account. Paypal can send you money via money wire transfer or check but this processes cost too much.
Note: Credit/Debit card is used for verification. Bank account is for withdrawal purposes only.

Many Pinoy have already withdrawn their money from Paypal through Union Bank (including me), BDO, BPI, Metrobank, and Landbank (I gathered this info at Neobux forum). Their are other Paypal affiliated banks but only the above mentioned banks are tested by our kababayans. I think BDO and BPI charges processing fee (Php150-200) on top of the Paypal transfer fee.

If you don't have a credit or debit card, it is best to have Eon Cyber card. This card from Union Bank can be used both as a debit card to verify your paypal account and as a bank account to withdraw your paypal money.