Sports Toto's Special Draw Will Be Less Than Expected
PETALING JAYA (Dec 6) The government's decision to reduce special draws according to number forecast operators (NFO) to eight per year from 22 is likely to affect the earnings of Sports Toto Bhd less than was expected. Hong Leong Investment Bank Research stated that it was not too concerned, as special draws generally have lower sales. They also tend to be a threat to the sales of normal draws.
Lotteries in India
The revenues from lottery games are a significant portion of the budgets of several 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 even more. These challenges could be resolved by addressing taxation issues, and pushing for mass digitalization.
The State-level legal stance on lotteries varies from permitting them to banning them entirely. While some have an open-minded approach however, the majority are stifling in regards to ticket prices and technology as well as jackpot size and public image. These constraints affect the success of both government-run and private lotteries. However, their popularity continues because of their low-cost tickets and their widespread availability, giving them an advantage over illegal gambling operations and offshore operators.
The lottery industry is expected to follow the digital revolution, which has transformed all other sectors of the economy. Alongside facilitating new forms of play, digitization will also make buying tickets quicker and more efficient for Indian consumers. This will impact the parallel, offline lottery dimension, where many buyers are still used to purchasing tickets in person at the local sales point.
In the past, the lottery industry in India was hampered by the high cost of internet access and absence of a digital infrastructure. Today, 750 millions Indians have access to cheap internet, which increases their purchasing power and ease of use. The result is likely to see a shift in the market's structure with offline and online segments coexisting side by side.
Lottery players can now buy tickets online, and play from anywhere within the country. In websites offers a legal framework for resolving complaints about deceptive advertising and other business practices. This ensures that the lottery participants won't be abused by fraudulent operators.
While the majority are managed by the central government, a few of states have private companies licensed to run their draws. Private lotteries can be more flexible in their ticket prices, jackpot size and other factors. They could also be more attractive to foreign investors. They can also avoid the restrictions of legislation that is a state-level like the prohibition on sales across state lines.
Playwin, part of the Essel Group, is licensed to manage the Sikkim State Lottery. The company was facing financial challenges after the introduction of GST. This led to a decline in ticket sales. The company is now in the process of filing for bankruptcy legal proceedings. Despite the risk the private lotteries continue be popular in India especially among the younger players. They can be played on smartphones, 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 worried about the possibility of their personal data being exposed. The government is working to address these concerns through new regulations and responsible gaming. The act of reporting any suspicious activity could assist the general public.