PETALING JAYA (Dec 6): The government's decision to cut special draws according to number forecast operators (NFO) to eight per year from 22 is likely to impact the earnings of Sports Toto Bhd less than expected. Hong Leong Investment Bank Research said it was not too worried, as special draws usually have lower sales. They can also often be a threat to the sales of normal draws.
Lotteries in India
The lottery industry contributes a significant amount to State budgets. It is also a popular method of entertainment for 안전놀이터, Totopia.kr, India's rapidly expanding mobile-savvy, tech-savvy and tech-savvy population. This segment is hampered by a variety of structural obstacles which prevent it from expanding. These issues could be solved by addressing taxation issues, and pushing for mass digitalization.The legal position of the state on lotteries vary from allowing them to banning completely. While some states have a more permissive approach however, the majority are stifling regarding ticket pricing and the use of technology and jackpot size as well as public image. These restrictions affect the success of both private and government-run lotteries. Their popularity is growing despite the fact that tickets are cheap and readily available and give them an advantage over illegal gambling operations or offshore operators.
The lottery industry is likely to follow the digital revolution, which has transformed all other industries of the economy. Digitization will not just provide new ways to play and win, but will also make it easier for Indian players to purchase tickets. This will have an impact on the offline lottery, a parallel aspect, where a large number of buyers are still used to purchasing tickets in person at local sales points.
In the past, the lack of a digital infrastructure in India and the high cost of internet access hindered the growth of the lottery industry in India. Today, 750 millions Indians have access to cheap internet and this increases their buying capacity and ease of access. 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 can now buy tickets online, and can play anywhere in the country. Additionally the Consumer Protection Act offers a legal framework for the resolution of complaints about misleading advertising and other business practices. This guarantees that lottery participants will not be abused by fraudulent operators.
While the majority are run by the central government, a handful of states have licensed private companies to conduct their draws. Private lotteries are more flexible in their ticket prices, jackpot sizes and other parameters. They can also be more appealing to foreign investors. They also are able to be able to avoid restrictions that are imposed by state legislation, such as the prohibition against cross-State sales.
Playwin, part of the Essel Group, is licensed to run the Sikkim State Lottery. The company was plagued by financial issues after the introduction of GST which led to an increase in ticket sales. The company is facing insolvency legal proceedings. Private lotteries are still very popular in India despite the risks especially for younger generation. They can be played from smartphones, computers and televisions, and prizes are usually higher than regular lotteries. Many players are concerned about the security and safety that these platforms provide. They are also worried about the risk of personal information being exposed. The government is trying to address these concerns by implementing new regulations and promoting responsible gaming. The act of reporting any suspicious activity could assist the general public.
