Sports Toto's Special Draw Will Be Less Than Expected
PETALING JAYA 6 DECEMBER The move by the government to reduce special draws conducted 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 was initially thought. Hong Leong Investment Bank Research said it was not too worried, as special draws generally have lower sales. They can also often be a threat to the sales of normal draws.
Lotteries in India
Lottery revenues are a significant part of the budgets of many states. It is also a very popular form of entertainment in India's growing, mobile-savvy and tech-savvy population. However, this segment is struggling with a number of structural barriers that prevent it from expanding even more. These issues can be addressed by addressing taxation issues, and pushing for mass digitalization.
The legal position of the State on lotteries varies from permitting lottery games to banning them completely. While some have a more permissive approach, most are restrictive in terms of ticket pricing and technology and jackpot size as well as public image. These constraints affect the success of both government-run and private lotteries. Their popularity continues to increase despite the fact that tickets are cheap and readily accessible which gives them an advantage over illegal gambling operations or offshore operators.
As the digital boom transforms all other segments of the economy, it's likely that the lottery industry will also be transformed. Aside from facilitating new modes of play, digital technology will also make the process of buying tickets quicker and more efficient for Indian consumers. This will affect the offline lottery, in which the majority of players are still accustomed to buying tickets from local sales points.
In the past, India's lottery industry was hampered by the high cost of internet access as well as the absence of a digital infrastructure. Today, 750 million Indians have cheap internet access which boosts their purchasing power and ease of use. This will result in a shift in the market structure with both online and offline segments coexisting.
Lottery players can now buy tickets online, and play from anywhere within the United States. The Consumer Protection Act also provides a legal framework to resolve complaints regarding deceptive advertising and other business practices. This ensures that lottery players won't be exploited by unscrupulous operators.
While the majority of lotteries that are approved by State authorities are run by central government officials There are a few States have licensed independent private companies to conduct their drawings. Private lotteries can be more flexible with their ticket prices, jackpot size and other parameters. They could also be more appealing to foreign investors. They also are able to stay clear of restrictions enforced by state legislation, such as the prohibition on cross-State sale.
One of the most notable cases is the Essel Group's Playwin licensed to run the Sikkim state lottery. The company was facing financial challenges after the introduction of GST. This led to the decline in ticket sales. The company is now facing bankruptcy proceedings. the advantage remain popular in India despite the risk especially for younger generation. They can be played on mobile devices, computers, and even televisions. The winnings are generally higher than regular lotteries. Many players are concerned about the safety and security provided by these platforms. They are also concerned about the risk of sharing their personal data. The government is attempting to solve these issues by implementing new regulations and promoting responsible gaming. The public can assist by reporting any suspicious activity to the authorities.
