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Sports Toto's Special Draw Will Be Less Than Expected
PETALING JAYA 6 DECEMBER The move by the government to reduce special draws run by number-prediction companies (NFO) from 22 to eight per annum is expected to have a less significant impact on the profits of Sports Toto Bhd than was initially thought. Hong Leong Investment Bank Research said it wasn't too concerned as special draws typically have lower sales and often cannibalise sales from normal draws.
Lotteries in India
The revenues from lottery games are a significant portion of the budgets of several states. It is also a popular method of entertainment for India's rapidly growing mobile-savvy, tech-savvy and tech-savvy populace. This segment is hampered by a number structural barriers that prevent it from expanding. Achieving a better tax system and pushing for mass digitization could help in solving these problems.
State-level legal positions on lotteries vary from allowing them to ban them completely. Some states have a more permissive policy, but the majority are more strict in regards to ticket prices as well as technology, jackpot size and public image. These limitations affect the performance of both government-run and private lotteries. Their popularity is growing despite the fact that tickets are affordable and widely available, giving them an edge over illegal gambling operations or offshore operators.
The lottery industry is likely to follow the digital boom, which has transformed other sectors of the economy. Digitization will not only facilitate new ways to play and win, but will also allow Indian consumers to purchase tickets. This will have an impact on the offline lottery, a parallel aspect, where a large number of buyers are still accustomed to buying tickets in person at the local sales point.
In the past, the absence of a digital infrastructure in India and the high cost of internet access hindered the development of the lottery industry in India. However, today, 775 million Indians have access to affordable internet access, which has increased their purchasing power and ease of use. This will result in an alteration in the structure of markets that will see both offline and online segments coexisting.
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 for resolving complaints about misleading advertising and other business practices. This guarantees that lottery players won't be exploited by untrustworthy operators.
While the majority are run by the central government, a small number of states have licensed private companies to manage their draws. Private lotteries can be more flexible in their tickets' prices, jackpots and other parameters. They may also be more appealing to foreign investors. homepage can also avoid restrictions imposed by state-level laws, like the prohibition of cross-State sales.
One case that stands out is the Essel Group's Playwin, licensed to operate the Sikkim state lottery. The company faced financial difficulties after the introduction of GST. This led to a decline in ticket sales. The company is now in the process of filing for bankruptcy procedures. Despite the risk, private lotteries continue to be popular in India, especially among younger players. They can be played on smartphones, computers, and televisions. The payouts are typically higher than regular lotteries. Many players are concerned about the security and safety provided by these platforms. They are also concerned about the risk of personal information being disclosed. The government is working to address these concerns via new regulations and responsible gaming. The public can assist by reporting any suspicious activity to the authorities.