Mark Twain, introduced a concept that divides the Indian world into two halves. On one side, there are people who have seen Indian celebrities, monuments, and ancient buildings and the second category are unaware of it. he reffered this thing with the investors in the share market in india. Two kinds of investors exist, a group has the knowledge of the share market in India today and other ones don’t have any.
The government helped them by providing opportunities to investors, companies and agencies. Many of them took advantae of it and things get profitable for them.
Bombay Stock Exchange & National Stock Exchange, plays a valuable role in the Indian stock market and share market in India. BSE is working since 1875 while NSE began their operations back in 1992 and started performing in 1994. Both have similiarirties as mechanism, settlement process and trading hours. BSE is the older one and NSE is the largest one.
Many sources & Schemes effected the share market in India.. Nagaland state lotteries are among them, let’s see how they relate to each other.
Share Market in India & Lottery Business
The indians are reaping benefits of lucky draw concept just for over half a century. it has many phases, like in desi culture, lotto games, drawing betting numbers, playing cards and etc are the popular form. In the public gaming Act of 1867, all games were banned except of the lotteries. Still, these games are the part of the desi culture.
It took a century to get official, Kerala, gave this concept in 1967 and other states followed it.
The pan India network company took interest in this concept and held a “ Playwin “ brand for a number of years, that include online network operations. However, bankruptcy is also seen so the chances to resume this plan was fewer.
Sugal & Damanai are one of the famous players in India who covers almost 65 percent of market shares of the online lottery business. It has approximately 25 thousand terminals in India and nearly 18 million transactions done by him regularly.
According to the rough estimate, almost 10 lakh people are the part of lottery games and their living depends on it. These conditions enforce Sugal & Damani CEO to communicate with the Prime Minister about the department’s economy and the special potential of the union. For many years, India has seen development in financial market and that around 35,000 Cr to Rs. 50,000 CR.
Share Market In India: Service Tax On Lotteries
In the mid of 2017, the central government introduced a 28% Tax on various services & goods that effected Indian lottery business also. All other departments, sectors and entertainment sources has to be agree on it so the lottery department also. But, it proved to be a good step because it marked a full stop on all non-regulations, and illegal lotteries.
Initially, the GST council imposed double tax rates, so the state administration lotteries had to add 12% GST without including any marketers. On the other hand, there were the states that run the lottery system via retail resellers that have to deal with 28% Tax. These factors made a clear difference in the tax rates, it affected the small ones as compared to the larger states. As they lose a higher share of public revenues.
These conditions emphasize the states like Sikkim, Nagaland, and Goa to impose consistent GST rate. They can compromise with 18% taxes as their goal was to make India a whole non-discriminatory market with constant indirect taxes.
Ultimately, all the lottery schemes had to pay the highest tax ( 28% ) for sure. The supreme court resolve the problem in December 2020, in a view that these tax impacts the large economic sector.
On this point, the states had two options, first would be dependent the lottery player to pay the GST, if not, the government will deduct from the prize money. perhaps, no one would go with the second option as their focus is to win massive amounts.
Finally, 28% of GST was set in the lottery operations, and this step saw a major decline in ticket sales. That effected many of the small retailers badly and it became the big reason behind the closing down of play win operations.
How Does the Lottery Relate to Trading?
Many people want a shortcut to make money easil and they invest big amount in many games and schemes without knowing their odds. The same thing goes for the investors in the share market in India today, they go for various stocks like lotteries and take an interest in buying cent stocks with high beta and low prices.
There are few chances of winning large amounts in these lottery games. No doubt, these stocks are quick in response and this makes it explosive in the market. If you can not predict anything about these lotteries, it would be the risky investment
Now, lotteries are getting common in the options markets also, The cash market to the option market seen a major shirt in past 7 years.
How Technology Involves In Lottery Industry In India?
The rapid integration of technology has used in the lottery industry and share market in India. It gave a new look to the concept of lottery and it completely change the way of playing the game, managing and accessing the player across the country. it is just due to the technology, the Indian lottery industry now has electronic lottery schemes, online platforms, mobile applications, and data analytics to operate the lottery system in India.
Technology brought Comfort
technology has made things accessible for the players as now they can purchase the tickets online, and can claim for their winning prize online. The introduction of the mobile applications, tools, software, and innovative features prove advantagous for the users.
Upgraded Security & Clarity
As lotteries are playin the prominent role in the share market in India, it has enabled the lottery market to provide more accurate and transparent services to gamers. The Kerala lottery result today are a big example of it as anyone in the state can contribute to it with no doubts.
Better Management & Gaming Experience
Undoubtedly, the lottery operation run smoother using technology. It ensures the authenticity of the game and prevent any fraud and corrupt activities. The players has the great gaming experience that encourages players to play again. Technology is for the great use for the operators as they had to proceed various tasks like process data, and manage all the payments under a secure roof.
Impacts Of COVID-19 On Global Lottery Market
Covid effected the global lottery market’s growth in various ways. The lotter market has seen a downfall due to Covid-19. People has to face downfall in financial conditions that affects the lottery demand in the market also. The import-export markets of the US & China have been a top lottery processing countries but they also laid under economic loss. Covid marked the full stop in the gambling organizations such as clubs, Restaurants, casinos, betting shops, poker & bingo halls, etc. but, the hunger for gambling never ended so the local market gamblers switched to online gambling.
Seeing all this situation, Crypto Billion Lotto introduces four lottery games in January 2021. Two of the four belonged to India, named as Indian Fantasy 5 & Indian Billion Lotto.
We have seen how Indian lotteries affect the share market in India. Its impacts on the share market made it valuable around the globe. It has seen various ups & downs in the global market also such as the Covid-19 brought many changes in its market growth. But, gamers always find shortcuts to make money. So, nothing could stop them. It has benefits and flaws also. Lotteries have made their biggest contribution to helping the country financially.