Sports Toto's Special Draw Will Be Less Than Expected
PETALING JAYA (Dec 6) The government's decision to reduce special draws based on number forecast operators (NFO) to eight per year from 22 is likely to affect earnings of Sports Toto Bhd less than expected. Hong Leong Investment Bank Research said it wasn't too concerned because special draws usually have lower sales and frequently will eat away at sales from regular draws.
Lotteries in India
The lottery sector contributes a sizable amount to the State budgets. It is also a very popular form of entertainment for India's rapidly expanding, tech-savvy and mobile-savvy population. But, this group is faced with a number of structural obstacles that hinder it from growing even more. Fine-tuning taxation issues and pushing for widespread digitization could go a long way toward settling these challenges.
The legal position of the state regarding lotteries range from allowing them to banning completely. While some have more discretionary policies but the majority are strict regarding ticket pricing and technology as well as jackpot size and public image. 스포츠토토 사이트 affect the success of both government-run and private lotteries. However, their popularity is maintained 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 likely to follow the digital boom, which has transformed all other sectors of the economy. Digitization will not just provide new ways to play and win, but will also allow Indian players to purchase tickets. This will have an impact on the offline, parallel lottery aspect, where a large number of buyers are still accustomed to buying tickets in person at the local sales point.
In the past, India's lottery industry was hampered by the high cost of internet access and the lack of an infrastructure for digital. However, today, more than 750 million Indians have access to cheap internet services, which increases their purchasing power and convenience. The result will be a shift in the market structure that will see offline and online segments interacting.
Lottery players will be able to purchase tickets online and play from anywhere in the country. The Consumer Protection Act also provides the legal framework to settle complaints about deceptive advertisements and other business practices. This ensures that players won't be exploited by unscrupulous operators.
While the majority of State-approved lotteries are administered by central government officials There are a few States have licensed private companies independent of the government to manage their lotteries. Private lotteries can be more flexible in their ticket prices, jackpot size and other aspects. They can also be more appealing to foreign investors. They also can avoid restrictions imposed by state-level legislation such as the prohibition of cross-State sales.
One case that stands out is the Essel Group's Playwin licensed to run the Sikkim state lottery. The company was plagued with financial problems due to the introduction of GST which led to a drop in ticket sales. The company is now in the process of filing for bankruptcy legal proceedings. Private lotteries are still popular in India despite the risk particularly among younger generations. They can be played on mobile devices, computers and televisions and the prizes are generally higher than regular lotteries. Many people are concerned about the security and safety provided by these platforms. They are concerned about the danger of sharing their personal data. The government is working hard to address these concerns through new regulations and responsible gaming. The public can assist by reporting any suspicious activity to the authorities.