Playwin Infrawest, India’s first on-line lottery, promoted by Subhash Chandra and Essel group, goes online today.
Playwin Infrawest, the Rs 300 crore lottery venture, promoted by Subhash Chandra and Essel group, is set to go live from today with Sikkim state lottery''s ‘Super Lotto’. The company has already installed 300 on-line playing terminals at retail centres across all the 14 lottery playing states. Each terminal has been installed at Rs 3 lakh at retail outlets.
According to industry sources, globally online lottery business is worth over 125 billion US $ annually. Last year UK’s leading online lottery player Camelot’s sales stood at 13 billion US$, while Coke’s annual turnover was only 3 billion US$.
In India, there are few business that have the potential to grow from 0 to 1000 crore in just one year. Online lottery can do even better than that. According to market estimates, if all states allow the online lottery sales, the turnover could go well over 1,00,000 crore annually with government getting about 25% of this revenue as tax.
The inaugural draw of ‘Super Lotto’ will be held on March 29 at Gangtok in Sikkim and the result will be telecast live on Zee TV.
In order to give the online lottery a good start, Super Lotto can be played free on March 5 and March 6 at all retail centres in all lottery playing states. Consumers will be offered once in a life-time opportunity for the first two days to participate in Super Lotto''s jackpot of Rs 2 crore.
According to current annual estimate, sale of paper lottery is close to Rs. 50,000 crore, of which Rs. 28,000 crore is legal while balance sales comes from counterfeit tickets.