official website Toto's Special Draw Will Be Less Than Expected
PETALING JAYA 6 DECEMBER The government's move to reduce special draws run by number-prediction companies (NFO) from 22 to 8 per annum is expected to have less significant impact on the earnings of Sports Toto Bhd than anticipated. Hong Leong Investment Bank Research said it was not overly 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 part 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. This segment is hindered by a variety of structural obstacles that prevent it from expanding. These issues can be addressed by addressing taxation issues, and pushing for widespread digitalization.
State-level legal positions on lotteries vary from allowing them to banning completely. While some have an open-minded approach however, the majority are stifling regarding ticket pricing, technology use, jackpot size, and public image. These restrictions affect the success of government-run lotteries as well as private ones. However, their popularity continues 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 revolution, which has transformed other areas of the economy. Digitization will not just provide new ways to play however, it will also facilitate Indian consumers to purchase tickets. This will impact the parallel, offline lottery dimension, where many buyers are still accustomed to buying tickets in person at local sales points.
In the past, the absence of a digital infrastructure in India and high cost of internet access impeded the development of the lottery business in India. However, today there are 750 million Indians have access to low-cost internet access, which has increased their purchasing power and ease of use. The result is expected to see a shift in the market's structure with online and offline segments interacting side-by-side.
Lottery players will be able to purchase tickets online and play from any part of the country. The Consumer Protection Act also provides the legal framework to settle complaints about misleading advertisements and other business practices. This ensures that the lottery participants aren't abused by unscrupulous operators.
While the majority of lotteries are run by the central government, a few of states have licensed private companies to conduct their draws. Private lotteries can be more flexible in their tickets' prices, jackpots and other factors. They could also be more appealing to foreign investors. They can also avoid restrictions of legislation that is a state-level, such as the ban on cross-State sales.
One of the most notable cases is the Essel Group's Playwin, licensed to operate the Sikkim state lottery. The company was afflicted with financial issues after the introduction of GST which led to a drop in ticket sales. The company is currently facing insolvency procedures. Private lotteries remain popular in India despite the risks especially for younger generations. They can be played on mobile devices, computers, and televisions. The winnings are generally higher than traditional lotteries. However, many consumers are concerned about the safety and security of these platforms. They are also worried about the possibility of their personal data being exposed. The government is working to address these concerns with new regulations and responsible gaming. The act of reporting any suspicious activity could help the public.