Sports Toto's Special Draw Will Be Less Than Expected
PETALING JAYA (Dec 6): The government's decision to cut special draws according to number forecast operators (NFO) to eight per year from 22 is likely to impact earnings of Sports Toto Bhd less than expected. 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.
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The lottery industry contributes a significant amount to the budgets of State governments. It is also a popular way to entertain India's rapidly expanding, tech-savvy and mobile-savvy population. But, this group is faced with a variety of structural barriers that stop it from expanding even more. Achieving a better tax system and pushing for widespread digitization could help in solving these issues.
The legal position of the State on lotteries ranges from allowing lottery games to banning them completely. Some states have a more liberal policy, but the majority are stricter in terms of ticket prices as well as technology and jackpot size as well as public image. These restrictions affect the success of government-run lotteries as well as private ones. Their popularity continues to increase despite the fact that tickets are affordable and widely available and give them an advantage over illegal gambling operations or offshore operators.
The lottery industry is likely to follow the digital boom, which has transformed all other areas of the economy. Digitization will not just provide new ways to play, but also facilitate Indian consumers to purchase tickets. This will impact the offline lottery, where many players still have to buying tickets at local sales points.
In the past, the lack of a digital infrastructure in India and the high cost of internet access impeded the development of the lottery industry in India. However, today, more than 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 coexisting side by side.
Lottery players can now purchase tickets online and play from anywhere within the country. In addition, the Consumer Protection Act offers a legal framework to resolve complaints about misleading advertising and other business practices. This guarantees that lottery players aren't abused by fraudulent operators.
While the majority of lotteries are run by the central government, a handful of states have licensed private companies to run their draws. Private lotteries are more flexible in the terms of their ticket pricing and jackpot size, as well as other aspects, and could be more appealing to international investors. They also can stay clear of restrictions enforced by state-level legislation such as the prohibition of cross-State sales.
Playwin, part of the Essel Group, is licensed to manage the Sikkim State Lottery. The company faced financial difficulties after the introduction of GST. This led to an increase in ticket sales. The company is now facing insolvency legal proceedings. Despite the risk, private lotteries continue to be popular in India particularly among younger generations. They can be played on mobile devices, computers, and televisions. The payouts are typically higher than regular lotteries. However, many consumers have doubts regarding the security and safety of these platforms. They are also concerned about the risk of personal information being disclosed. The government is working hard to address these concerns through new regulations and responsible gaming. The act of reporting any suspicious activity could aid the public.