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 impact earnings of Sports Toto Bhd less than expected. Hong Leong Investment Bank Research said it was not overly concerned since special draws generally have lower sales and often reduce sales from normal draws.
Lotteries in India
Lottery revenue is a major part of the budgets of a variety of states. It is also a very popular form of entertainment among India's rapidly expanding, mobile-savvy, and tech-enabled population. However, this segment struggles with a number of structural barriers that prevent it from expanding further. These issues could be solved by addressing taxation issues, and promoting mass digitalization.
The legal position of the State on lotteries varies from permitting them to banning them entirely. Some states have a more permissive stance, but most are more strict in regards to ticket prices, technology and jackpot size, as well as public image. These limitations affect the performance of both private and government-run lotteries. However, their popularity is maintained due to their low cost and their widespread availability, giving them an advantage over illegal gambling operations and offshore operators.
The lottery industry is expected to follow the digital boom, which has transformed all other sectors of the economy. Alongside facilitating new forms of play, digital technology will also make purchasing tickets more efficient and efficient for Indian players. 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 absence of a digital infrastructure in India and high cost of internet access hindered the development more info of the lottery business in India. Today more than 750 million Indians have access to affordable internet access, which has increased their purchasing power and ease of use. The result is expected to result in a change in the market's structure with offline and online segments coexisting side-by-side.
Lottery players can now purchase tickets online, and can play anywhere in the United States. Additionally, the Consumer Protection Act offers a legal framework for the resolution of complaints about misleading advertising and other business practices. This guarantees that lottery players will not be cheated by untrustworthy operators.
While the majority of lotteries are run by the central government, a handful of states have licensed private companies to conduct their draws. Private lotteries are more flexible in terms of their ticket pricing, jackpot sizes, and other aspects, and might be more appealing to investors from overseas. They also can avoid restrictions imposed by state-level legislation such as the prohibition on cross-State sale.
Playwin is a subsidiary of the Essel Group, is licensed to manage 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 now in the process of filing for bankruptcy proceedings. Despite the dangers the private lotteries continue be popular in India especially among the younger generations. They can be played on mobile devices, computers and even on televisions. The prizes are usually higher than the regular lotteries. However, many players are skeptical about the safety and security of these platforms. They are also concerned about the risk of their personal information being disclosed. The government is trying to solve these issues by adopting new regulations and encouraging responsible gaming. The public can help by notifying any suspicious activity to the authorities.