Online lottery gambling has become a massive craze, particularly in Asia and Japan. It is a great way to win prizes whenever you like, and there are no time restrictions. The best part is that it is legal and regulated in many countries. However, it’s not as regulated in India. Here are some things you should remember when playing.
It’s a big craze in Japan
Online lottery is a global craze, and it’s especially popular in Japan, where the government recently allowed lottery tickets to be sold online. For the younger generation, this is a huge benefit. Ninety percent of tickets in Japan are sold in physical outlets, and these outlets are typically only open for a limited number of hours.
It’s regulated
The government of India is looking into the regulation of online lottery. It has proposed to tax lottery tickets, apply the GST to them, and update the regulatory framework. However, the proposed regulation does not address the problem of online lottery fraud. The government is planning to hold a seminar to discuss the regulation of online lottery.
It’s unregulated in India
India’s Lotteries Act allows states to regulate and control lottery games and draws. However, this law does not address online lottery games. It also does not regulate foreign online lotteries. This means that individuals cannot be punished if they participate in an online lottery.
It’s time-consuming
Running an online lottery business can be very time-consuming. This business requires a high level of self-management, and it can quickly overtake your personal life. There is also minimal face-to-face contact, which makes it difficult to build a relationship with customers. In order to win customers, you will need to stretch your limits and move outside of your comfort zone.
It’s expensive
Online lottery ticketing can be a costly business. As companies compete to gain market share, they are investing heavily in outlets and trained staff. They also have to invest in technology, including computers and other equipment. These expenses add up to a substantial amount. One terminal alone can cost up to Rs 1,70,000.