Sports Toto's Special Draw Will Be Less Than Expected
PETALING JAYA, 6 DECEMBER: The move by the government to reduce special draws run by number-prediction companies (NFO) from 22 to eight per annum is expected to have less of an impact on the profits of Sports Toto Bhd than initially anticipated. Hong Leong Investment Bank Research said it was not overly concerned since special draws generally have lower sales and frequently will eat away at sales from regular draws.
Lotteries in India
The lottery industry contributes a significant amount to the budgets of State governments. It is also a popular type of entertainment for India's growing, mobile-savvy, and tech-savvy population. But, this group is faced with a myriad of structural barriers that prevent it from growing even more. Fine-tuning taxation issues and pushing for widespread digitization could be a significant step towards solving these problems.
The State-level legal stance on lotteries ranges from allowing lottery games to banning them completely. While some have an open-minded approach however, the majority are stifling in regards to ticket prices, technology use, jackpot size, and public image. These limitations affect the performance of both government-run and private lotteries. Their popularity is growing despite the fact that tickets are affordable and readily available and give them an advantage over illegal gambling operations or offshore operators.
As the digital boom transforms all other segments of the economy, it's expected that the lottery industry will be the same. Digitization will not just provide new ways to play, but also make it easier for Indian customers to purchase tickets. This will affect the lottery that is played offline, where the majority of players are still accustomed to buying tickets at local sales points.
In the past, the lottery industry in India was hampered by the expensive cost of internet access as well as the absence of a digital infrastructure. However, today there are 775 million Indians have access to low-cost internet access, which has increased their purchasing power and ease of use. The result is expected to see a shift in the market's structure with online and offline segments interacting side-by-side.
Lottery players can now buy tickets online, and can play anywhere in the country. In addition, 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 untrustworthy operators.
While the majority of lotteries are run by the central government, a small number of states have private companies licensed to run their draws. Private lotteries are more flexible in terms of their ticket pricing, jackpot sizes, and other parameters, and they may be more attractive to investors from abroad. They can also stay clear of restrictions enforced by state-level legislation such as the prohibition against cross-State sales.
One case that stands out is the read more Essel Group's Playwin, licensed to operate the Sikkim state lottery. The company was afflicted with financial problems after the introduction of GST, which caused an increase in ticket sales. The company is now in the process of filing for bankruptcy proceedings. Despite the dangers however, private lotteries continue be popular in India especially among the younger generations. They can be played on mobile devices, computers and even televisions. The prizes are usually higher than regular lotteries. However, a lot of players are concerned regarding the security and safety of these platforms. They are concerned about the danger of exposing their personal data. The government is working hard to address these concerns through new regulations and responsible gaming. The public can help by reporting any suspicious activity the authorities.