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 from 22 is likely to impact earnings of Sports Toto Bhd less than was expected. Hong Leong Investment Bank Research said it wasn't too concerned as special draws typically have lower sales and often reduce sales from normal draws.
Lotteries in India
The revenues from lottery games are a significant part of the budgets of many states. It is also a 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 barriers that stop it from expanding even more. Fine-tuning taxation issues and pushing for widespread digitization could help in solving these problems.
The legal position of the State on lotteries varies from permitting lotteries to completely banning them. Some states have a more permissive policy, but the majority are more strict with regards to ticket prices and technology and jackpot size, as well as public image. These restrictions affect the success of both government-run and private lotteries. 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 follow the digital boom, which has transformed all other areas of the economy. Digitization will not only facilitate new ways to play, but also make it easier for Indian customers to purchase tickets. This will affect the lottery that is played offline, where the majority of players are still accustomed to purchasing tickets at local sales points.
In the past, the lottery industry in India was hindered by the high cost of internet access and absence of an infrastructure for digital. However, today more than 750 million Indians have access to low-cost internet services, which increases their purchasing power and 먹튀검증 ease of use. This will result in an alteration in the structure of markets that will see both online and offline segments interacting.
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 misleading advertising and other business practices. This guarantees that lottery participants won't be abused by untrustworthy operators.
While the majority of lotteries that are approved by State authorities are run by central government authorities, a few States have licensed private companies that are independent and able to manage their lotteries. Private lotteries can be more flexible in their ticket prices, jackpot size and other aspects. They could also be more appealing to foreign investors. They also can stay clear of restrictions enforced by state legislation, such as the prohibition of cross-State sales.
Playwin is an affiliate of the Essel Group, is licensed to run the Sikkim State Lottery. The company had financial problems following the introduction of GST. This resulted in the decline in ticket sales. The company is currently facing insolvency legal proceedings. Despite the dangers the private lotteries continue be popular in India particularly among younger players. They can be played on mobile devices, computers, and TVs, and prizes are usually higher than those of regular lotteries. However, a lot of players are concerned regarding the security and safety of these platforms. They are also concerned about the risk of personal information being disclosed. The government is attempting to tackle these concerns by adopting new regulations and encouraging responsible gaming. The public can help by reporting any suspicious activity to the authorities.