Sports Toto's Special Draw Will Be Less Than Expected
PETALING JAYA (Dec 6): The government's decision to reduce special draws by number forecast operators (NFO) to eight per year from 22 is likely to affect the earnings of Sports Toto Bhd less than expected. Hong Leong Investment Bank Research said it was not too concerned because special draws usually have lower sales and frequently will eat away at sales from regular draws.
Lotteries in India
Lottery revenue is a major portion of the budgets of several states. It is also a popular way to entertain India's rapidly expanding, tech-savvy and mobile-savvy population. But, this group is faced with a number of structural obstacles that hinder it from expanding further. These issues could be solved by addressing taxation issues and pushing for widespread digitalization.
The State-level legal stance regarding lotteries can range from allowing lottery games to banning them completely. While some states have a more permissive approach, most are restrictive in regards to ticket prices, technology use and jackpot size as well as public image. These restrictions affect the success of both private and government-run lotteries. Their popularity continues to increase despite the fact that tickets are inexpensive and widely accessible which gives them an advantage over illegal gambling operations or offshore operators.
As the digital revolution transforms all other sectors of the economy, it's highly likely that the lottery industry will also be transformed. Alongside facilitating 첫가입 꽁머니 of play, digitization will also make the process of buying tickets quicker and more efficient for Indian consumers. This will impact the offline lottery, where many players still have to purchasing tickets at local sales points.
In the past, the lottery industry in India was hindered by the high cost of internet access as well as the lack of an infrastructure for digital. Today, 750 millions Indians have access to cheap internet and this increases their buying power and convenience. The result is likely to be a shift in the structure of the market, with offline and online segments coexisting side by side.
Lottery players will be able to buy tickets online and play from any part of the country. Additionally, the Consumer Protection Act offers a legal framework to resolve complaints about misleading advertising and other business practices. This ensures that lottery players won't be exploited by fraudulent operators.
While the majority are run by the central government, a small number of states have licensed private companies to manage their draws. Private lotteries are more flexible in their tickets' prices, jackpots and other factors. They may also be more appealing to foreign investors. They can also be able to avoid restrictions that are imposed by state legislation, such as the prohibition against cross-State sales.
One case that stands out is the Essel Group's Playwin, licensed to operate the Sikkim state lottery. The company was facing financial challenges after the introduction of GST. This resulted in a decline in ticket sales. The company is now facing insolvency legal proceedings. Private lotteries are still popular in India despite the risk, especially among the younger generation. They can be played on mobile devices, computer browsers as well as TVs, and prizes are usually higher than those of regular lotteries. Many people are concerned about the security and safety that these platforms provide. They are also concerned about the risk of exposing personal data. The government is trying to tackle these concerns by adopting new regulations and encouraging responsible gaming. The act of reporting any suspicious activity could assist the general public.