Sports Toto's Special Draw Will Be Less Than Expected
PETALING JAYA 6 DECEMBER The government's move to reduce special draws by number-prediction operators (NFO) from 22 to 8 per annum is expected to have a less of an impact on the profits of Sports Toto Bhd than anticipated. Hong Leong Investment Bank Research said it was not too concerned as special draws typically have lower sales and frequently cannibalise sales from normal draws.
Lotteries in India
The lottery sector contributes a sizable amount to State budgets. It is also a very popular form of entertainment in India's expanding, mobile-savvy, and tech-enabled population. But, this group is faced with a myriad of structural obstacles that hinder it from growing even more. These challenges could be resolved by addressing taxation issues, and promoting mass digitalization.
The state-wide legal stance regarding lotteries can range from allowing lotteries to completely banning them. Some states have a more relaxed policy, but the majority are more strict in regards to ticket prices and technology, jackpot size and public image. These constraints affect the success of both government-run and private lotteries. Their popularity continues to grow despite the fact that tickets are affordable and widely accessible which gives them an advantage over illegal gambling operations or offshore operators.
The lottery industry is expected to be a part of the digital revolution that has transformed all other industries of the economy. Aside from facilitating new modes of play, digital technology will also make the process of buying tickets quicker and more convenient for Indian customers. This will affect the offline lottery, where many players still have to buying tickets from local sales points.
In the past, the lack of a digital infrastructure in India and high cost of internet access impeded the growth of the lottery business in India. Today, 750 millions Indians have access to internet at a low cost, which increases their purchasing power and ease of use. The result is likely to be a shift in the market's structure with online and offline segments coexisting side-by-side.
Lottery players can now purchase tickets online, and play from anywhere within the United States. In addition the Consumer Protection Act offers a legal framework for the resolution of complaints about misleading advertising and other business practices. This ensures that lottery players will not be cheated by fraudulent operators.
While the majority of State-approved lotteries are administered by central government authorities There are a few States have licensed private companies independent of the government to conduct their drawings. These private lotteries are more flexible in way they price tickets, jackpot sizes, and other parameters, and they may be more attractive to international investors. They can also avoid limitations of legislation at the state level, such as the prohibition on sales across state lines.
Playwin, a subsidiary of the Essel Group, is licensed to manage the Sikkim State Lottery. The company was facing financial challenges following the introduction of GST. This resulted in an increase in ticket sales. The company is now in the process of filing for bankruptcy procedures. Despite the risk the private lotteries continue be popular in India, especially among younger players. They can be played on mobile devices, computers as well as TVs and the payouts are typically greater than those offered by regular lotteries. However, a lot of players are skeptical about the safety and security of these platforms. They are concerned about the danger of exposing personal data. The government is working hard to address these concerns through new regulations and responsible gaming. The public can assist website by reporting any suspicious activity the authorities.