Sports 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 eight per annum is expected to have a less significant impact on the earnings of Sports Toto Bhd than anticipated. Hong Leong Investment Bank Research said it wasn't too concerned since special draws generally have lower sales and frequently will eat away at sales from regular draws.
Lotteries in India
The lottery sector contributes a substantial amount to the State budgets. It is also a popular type of entertainment among India's rapidly expanding, mobile-savvy, and tech-enabled population. However, this segment is struggling with a number of structural barriers that stop it from expanding further. Fine-tuning taxation issues and pushing for widespread digitization could go a long way toward settling these challenges.
The legal position of the state on lotteries can range from allowing them to ban them completely. While some have more discretionary policies but the majority are strict regarding ticket pricing and technology, jackpot size, and public image. These limitations affect the performance of both government-run and private lotteries. Their popularity continues to grow despite the fact that tickets are affordable and readily available which gives them an advantage over illegal gambling operations or offshore operators.
The lottery industry is expected to follow the digital boom, that has transformed all other areas of the economy. Alongside facilitating new forms of play, digital technology will also make the process of purchasing tickets faster and more practical for Indian players. This will impact the offline lottery, where many players still have to buying tickets from local sales points.
In the past, India's lottery industry was hampered by the high cost of internet access as well as the lack of an infrastructure for digital. Today, 750 million Indians have access to internet at a low cost, which increases their purchasing capacity and ease of access. The result is expected to be a shift in the market's structure with offline and online segments interacting side-by-side.
Lottery players can now purchase tickets online, and can play anywhere in the country. The Consumer Protection Act also provides a legal framework to resolve get more info complaints about misleading advertisements and other business practices. This ensures that players will not be cheated by unscrupulous operators.
While the majority of lotteries that are approved by State authorities are administered by central government officials There are a few States have licensed independent private companies to conduct their draws. These private lotteries are more flexible in the price of tickets and jackpot size, as well as other aspects, and might be more appealing to investors from abroad. They also can avoid the restrictions of state-level legislation including the ban on cross-State sales.
One notable case involves the Essel Group's Playwin licensed to run the Sikkim state lottery. The company was plagued with financial problems following the introduction of GST which led to the sales of tickets to drop. The company is now facing insolvency legal proceedings. Private lotteries are still very popular in India despite the risks especially for younger generations. They can be played on smartphones, computers, and televisions. The payouts are typically higher than regular lotteries. However, many consumers have doubts about the safety and security of these platforms. They are also concerned about the risk of exposing personal data. The government is attempting to tackle these concerns by adopting new regulations and encouraging responsible gaming. Reporting any suspicious activity can help the general public.