Sports Toto's Special Draw Will Be Less Than Expected
PETALING JAYA (Dec 6) The government's decision of reducing special draws by number forecast operators (NFO) to eight per year instead of 22 is likely to affect earnings of Sports Toto Bhd less than was expected. Hong Leong Investment Bank Research said it was not overly 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 part of the budgets of a variety of states. It is also a popular method of entertainment for India's growing mobile-savvy, tech-savvy and tech-savvy population. This market is hampered by a number structural barriers that prevent it from expanding. Achieving a better tax system and pushing for mass digitization could go a long way toward solving these issues.
State-level legal positions regarding lotteries range from allowing them to banning them completely. Some states have a more permissive position, however the majority are more strict in regards to ticket prices as well as technology, jackpot size and public image. These restrictions impact the performance of lotteries run by governments and private lotteries as well as private. However, their popularity is maintained because of their low-cost tickets and widespread availability, which gives them an advantage over illegal gambling operations and offshore operators.
The lottery industry is likely to be a part of the digital revolution which has transformed all other sectors of the economy. Alongside facilitating new forms of play, digitization will also make the process of buying tickets quicker and more practical for Indian players. This will impact the parallel, offline lottery dimension, where many buyers are still used to purchasing tickets in person at the local sales point.
In the past, the lack of a digital infrastructure in India and high cost of internet access impeded the development of the lottery business in India. However, today there are 750 million Indians have access to low-cost internet access, which has increased their purchasing power and convenience. The result is likely to result in a change in the structure of the market, with online and offline segments interacting side-by-side.
Lottery players will be able to buy tickets online and play anywhere in the country. In addition the Consumer Protection Act offers a legal framework to resolve complaints about deceptive advertising and other business practices. This ensures that players won't be exploited by fraudulent operators.
While the majority of lotteries are run by the central government, a handful of states have licensed private companies to manage their draws. Private lotteries are more flexible in price of tickets and jackpot size, as well as other parameters, and they may be more attractive to investors from overseas. They can check here also avoid restrictions of state-level legislation like 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 after the introduction of GST. This resulted in the decline in ticket sales. The company is facing insolvency procedures. Despite the dangers, private lotteries continue to be popular in India especially among the younger players. They can be played on smartphones, computers, and even on televisions. The winnings are generally higher than regular lotteries. Many consumers are concerned about the safety and security that these platforms provide. They are also worried about the possibility of their personal information being exposed. The government is attempting to address these concerns by adopting new regulations and encouraging responsible gaming. The public can help by reporting any suspicious activity to the authorities.