Sports Toto's Special Draw Will Be Less Than Expected
PETALING JAYA (Dec 6): The government's decision of reducing special draws according to number forecast operators (NFO) to eight per year from 22 is likely impact the earnings of Sports Toto Bhd less than expected. Hong Leong Investment Bank Research said it was not worried, since special draws usually have lower sales. They also frequently be a threat to the sales of normal draws.
Lotteries in India
The revenues from lottery games are a significant element of the budgets of several states. It is also a popular form of entertainment in India's growing, mobile-savvy and tech-enabled population. But, this group is faced with a number of structural barriers that prevent it from growing even more. These challenges could be resolved by addressing taxation issues and promoting mass digitalization.
The legal position of the state regarding lotteries range from allowing them to ban them completely. Some states have a more relaxed policy, but the majority are more strict with regards to ticket prices as well as technology and jackpot size, as well as public image. These limitations affect the performance of both government-run and private 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.
The lottery industry is expected to follow the digital boom, which has transformed all other areas of the economy. Digitization will not just provide new ways to play however, it 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, India's lottery industry was hindered by the high cost of internet access and the lack of an infrastructure for digital. Today, 775 million Indians have access to low-cost internet services, which increases their purchasing power and convenience. The result is expected to be a shift in the market's structure, with online and offline segments coexisting side by side.
Lottery players can now purchase tickets website online, and play at any time within the country. The Consumer Protection Act also provides an legal framework for settling complaints about deceptive advertisements and other business practices. This ensures that the lottery participants won't be victimized by fraudulent operators.
While the majority are run by the central government, a small number of states have private companies licensed to conduct their draws. Private lotteries can be more flexible with their ticket prices, jackpot sizes and other parameters. They can also be more appealing to foreign investors. They also can avoid the limitations of legislation at the state level, such as the prohibition on sales across state lines.
One notable case involves the Essel Group's Playwin licensed to run the Sikkim state lottery. The company was facing financial challenges following the introduction of GST. This resulted in the decline in ticket sales. The company is facing insolvency procedures. Private lotteries remain popular in India despite the risk especially for younger generations. They can be played on mobile devices, computers and even on televisions. The winnings are generally higher than the regular lotteries. However, a lot of players have doubts about the security and safety of these platforms. They are concerned about the danger of exposing their personal information. The government is working to solve these issues by adopting new regulations and encouraging responsible gaming. The public can help by reporting any suspicious activity to the authorities.