State reduces lottery prize money by 10% | Goa News – Times of India

Panaji: In a move aimed at promoting state-sponsored lotteries, Goa govt on Friday reduced the prize money for lotteries in the state. Govt will now distribute 40% of the revenue generated from lottery sales as prize money, down from the previous 50%.
The Goa Lotteries (Regulation) Rules, 2003, has been amended to reflect this change. “In rule 6 of the Goa Lotteries (Regulation) Rules, 2003, in sub-rule (4), for the expression ‘50%’, the expression ‘40%’ shall be substituted,” said Pranab Bhat, under secretary, finance. Currently state govt runs an offline lottery business and generates around Rs 10 crore revenue annually.
An official said that the decision was taken after observing that other states typically allocate 30-35% of their lottery revenue to prize money.

Goa is set to become the first state in India to launch a fully tech-based online lottery.

The online lottery will offer a wide range of prizes, starting from the base ticket price and going up to a bumper prize of over Rs 50 crore. Govt plans to launch the lottery soon. The online lottery is poised to be a game-changer in India’s predominantly paper-ticket-based lottery market.

By providing information about the risks and rewards associated with lottery participation, the platform aims to have a more

responsible gaming environment.