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 from 22 is likely to affect the earnings of Sports Toto Bhd less than expected. Hong Leong Investment Bank Research said it wasn't too concerned as special draws typically have lower sales and frequently will eat away at sales from regular draws.
Lotteries in India
The revenues from lottery games are a significant part of the budgets of many states. It is also a very popular method of entertainment for India's growing, tech-savvy and mobile-savvy population. However, this segment is struggling with a variety of structural barriers that stop it from expanding further. Fine-tuning taxation issues and pushing for widespread digitization could help in settling these challenges.
The State-level legal stance regarding lotteries can range from allowing lottery games to banning them completely. Some states have a more permissive position, however the majority are stricter in terms of ticket prices and technology and jackpot size as well as public image. These limitations affect the performance of both government-run and private lotteries. Regardless, their popularity persists due to their low cost and widespread availability, which gives them an advantage over illegal gambling operations and offshore operators.
As the digital boom transforms all other segments of the economy, it's likely that the lottery industry will follow suit. Aside from facilitating new modes of play, digitization will also make the process of purchasing tickets faster and more practical for Indian consumers. This will impact the parallel, offline lottery dimension, where a lot of players are still used to purchasing tickets in person at the local sales point.
In the past, India's lottery industry was hampered by the expensive cost of internet access and lack of a digital infrastructure. Today, 750 million Indians have access to cheap internet and this increases their buying power and convenience. This will result in an alteration in the structure of markets, with offline and online segments interacting.
Lottery players can now purchase tickets online, and play from anywhere within the country. Additionally, the Consumer Protection Act offers a legal framework for the resolution of complaints regarding deceptive advertising and other business practices. 토토사이트 guarantees that lottery players won't be exploited by unscrupulous operators.
While the majority of lotteries approved by the State are run by central government officials However, a handful of States have licensed private companies that are independent and able to conduct their drawings. Private lotteries can be more flexible in their ticket prices, jackpot sizes and other factors. They can also be more attractive to foreign investors. They also are able to avoid restrictions imposed by state legislation, such as the prohibition of cross-State sales.
One notable case involves the Essel Group's Playwin licensed to run the Sikkim state lottery. The company was plagued by financial difficulties due to the introduction of GST, which caused the sales of tickets to drop. The company is facing insolvency proceedings. Despite the risks the private lotteries continue be popular in India particularly among younger generations. They can be played on mobile devices, computers, and televisions. The prizes are usually higher than regular lotteries. However, many consumers are skeptical regarding the security and safety of these platforms. They are concerned about the possibility of sharing their personal information. The government is working to address these concerns via new regulations and responsible gaming. The act of reporting any suspicious activity could help the public.