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 instead of 22 is likely to affect earnings of Sports Toto Bhd less than expected. Hong Leong Investment Bank Research said it wasn't too concerned as special draws typically have lower sales, and frequently cannibalise sales from normal draws.
Lotteries in India
The lottery sector contributes a sizable amount to the State budgets. It is also a very popular way to entertain India's rapidly expanding mobile-savvy, tech-savvy and tech-savvy population. This segment is hindered by a variety of structural obstacles that prevent it from expanding. Fine-tuning taxation issues and pushing for widespread digitization could help in solving these problems.
The legal position of the state regarding lotteries range from allowing them to banning completely. Some states have a more permissive position, however the majority are more strict with regards to ticket prices, technology and jackpot size, as well as public image. These restrictions hinder the performance of lotteries run by governments 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.
As the digital revolution transforms all other sectors of the economy, it's likely that the lottery industry will follow suit. Digitization will not only facilitate new ways to play and win, but will also make it easier for Indian customers to purchase tickets. This will impact the offline lottery, a parallel dimension, where many 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. However, today there are 750 million Indians have access to affordable internet access, which has increased their purchasing power and convenience. The result is likely to result in a change in the market's structure, with online and offline segments coexisting side by side.
Lottery players can now purchase tickets online, and play at any time within the United States. The Consumer Protection Act also provides the legal framework to settle complaints about deceptive advertisements and other business practices. This guarantees that lottery players will not be cheated by fraudulent operators.
While the majority of lotteries that are approved by State authorities are run by central government authorities, a few States have licensed independent private companies to conduct their draws. Private lotteries are more flexible with their ticket prices, jackpot sizes and other parameters. They could also be more appealing to foreign investors. They can also avoid limitations of legislation at the state level, such as the prohibition on sales across state lines.
Playwin, part of the Essel Group, is licensed to manage the Sikkim State Lottery. The company faced financial difficulties after the introduction of GST. TOTOPIA resulted in the decline in ticket sales. The company is now in the process of filing for bankruptcy proceedings. Private lotteries are still popular in India despite the risk especially for younger generation. They can be played on mobile devices, computers, and even on televisions. The prizes are usually higher than regular lotteries. Many consumers are concerned about the security and safety that these platforms provide. They are also concerned about the risk of sharing their personal data. The government is working to address these concerns with new regulations and responsible gaming. The public can assist by reporting any suspicious activity to the authorities.