Sports Toto's Special Draw Will Be Less Than Expected
PETALING JAYA (Dec 6): The government's decision of reducing special draws based on number forecast operators (NFO) to eight per year instead of 22 is likely to impact earnings of Sports Toto Bhd less than expected. Hong Leong Investment Bank Research stated that it was not too concerned, as special draws usually have lower sales. They can also often cannibalise the sales of normal draws.
Lotteries in India
The lottery industry contributes a significant amount to the budgets of State governments. It is also a popular type of entertainment in India's growing, mobile-savvy and tech-savvy population. However, this segment is struggling with a number of structural barriers that stop it from expanding even more. Fine-tuning taxation issues and pushing for widespread digitization could go a long way toward solving these problems.
The legal position of the state on lotteries can range from allowing them to ban them completely. Some states have a more permissive position, however the majority are more strict with regards to ticket prices and technology and jackpot size as well as public image. These restrictions affect the success of both government-run and private lotteries. Their popularity continues to grow despite the fact that tickets are affordable and widely available, giving them an edge over illegal gambling operations or offshore operators.
As the digital boom transforms other areas of the economy, it's highly likely that the lottery industry will also be transformed. Digitization will not only facilitate new ways to play, but also facilitate Indian players to purchase tickets. This will have an impact on the parallel, offline lottery dimension, where a lot of players are still used to purchasing tickets in person at sales points in their local area.
In the past, the absence of a digital infrastructure in India and the high cost of internet access impeded the growth of the lottery industry in India. However, today there are 775 million Indians have access to affordable internet access, which has increased their purchasing power and ease of use. This will result in a shift in market structure that will see both online and offline segments coexisting.
Lottery players will find it easier to buy tickets online and to play from anywhere in the country. In addition the Consumer Protection Act offers a legal framework for the resolution of complaints about deceptive advertising and other business practices. This ensures that lottery players will not be abused by fraudulent operators.
While the majority of lotteries are run by the central government, a few of states have private companies licensed to run their draws. Private lotteries can be more flexible with their tickets' prices, jackpots and other parameters. They may also be more appealing to foreign investors. They also can avoid the restrictions of legislation that is a state-level, such as the ban on cross-State sales.
스포츠토토 that stands out is the Essel Group's Playwin licensed to run the Sikkim state lottery. The company was plagued by financial issues due to the introduction of GST, which caused the sales of tickets to drop. The company is facing insolvency procedures. Private lotteries are still popular in India despite the risk particularly among younger generation. They can be played on smartphones, computers, and even televisions. The prizes are usually higher than regular lotteries. However, many players are skeptical about the safety and security of these platforms. They are also concerned about the risk of sharing their personal information. The government is working to solve these issues by implementing new regulations and promoting responsible gaming. Notifying any suspicious activity can assist the public.