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 eight per annum is expected to have a less of an impact on the earnings of Sports Toto Bhd than was initially thought. Hong Leong Investment Bank Research said it was not too concerned, as special draws usually have lower sales. They also tend to reduce the sales of regular draws.
Lotteries in India
The revenues from lottery games are a significant part of the budgets of many states. It is also a very popular form of entertainment among India's rapidly growing, mobile-savvy, and tech-savvy population. But, this group is faced with a number of structural obstacles that hinder it from expanding further. Fine-tuning taxation issues and pushing for mass digitization could go a long way toward solving these issues.
The legal position of the State on lotteries varies from permitting lottery games to banning them completely. Some states have a more liberal position, however the majority are stricter in terms of ticket prices as well as technology and jackpot size, as well as public image. These limitations affect the performance of both private and government-run lotteries. Their popularity continues to increase despite the fact that tickets are affordable and widely 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 other areas of the economy. Alongside facilitating new forms of playing, digitization will also make the process of buying tickets quicker and more convenient for Indian players. This will impact the offline lottery, a parallel dimension, where many buyers are still accustomed to buying tickets in person at local sales points.
In the past, India's lottery industry was hampered by the high cost of internet access and the absence of a digital infrastructure. However, today there are more than 750 million Indians have access to low-cost internet services, increasing their purchasing power and ease of use. The result is likely to be a shift in the market's structure with offline and online segments coexisting side by side.
Lottery players will be able to buy tickets online and play anywhere in the country. Additionally, click this offers a legal framework to resolve complaints about misleading advertising and other business practices. This ensures that the lottery participants will not be victimized by unscrupulous operators.
While the majority of lotteries approved by the State are run by central government authorities, a few States have licensed private companies independent of the government to conduct their drawings. Private lotteries are more flexible in way they price tickets, jackpot sizes, and other parameters, and they may be more attractive to investors from abroad. They can also be able to avoid restrictions that are imposed by state-level laws, like the prohibition on cross-State sale.
One case that stands out is the Essel Group's Playwin, licensed to operate the Sikkim state lottery. The company faced financial difficulties following the introduction of GST. This resulted in the decline in ticket sales. The company is now in the process of filing for bankruptcy legal proceedings. Private lotteries are still popular in India despite the risks especially for younger generation. They can be played on mobile devices, computer browsers as well as TVs and the payouts are typically greater than those offered by regular lotteries. However, many consumers are skeptical regarding the security and safety of these platforms. They are concerned about the possibility of sharing their personal information. The government is working to address these concerns through new regulations and responsible gaming. The act of reporting any suspicious activity could help the public.