Tuesday, October 21st, 2014
Friday, 01 August 2014 08:49

Thai junta seeks to reduce lottery prices, analysts say overhaul needed

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Thailand's military chiefs have taken aim at the popular state lottery, saying they are seeking to reduce street prices for the tickets, which are often as much as 40 percent above the official rate of 80 baht ($2.58).

The move is seen by analysts as a further populist step by the junta, the National Council for Peace and Order (NCPO), which took power in May ending months of political conflict.

The lottery is overseen by the Government Lottery Office (GLO) and permits two lottery draws a month. It’s one of the few legal means of gambling in the Kingdom, where legislation on the industry dates back to 1935.

It has been a significant cash cow for successive Thai governments, though has been criticized for issues of transparency, and allegations the draw may be fixed. Analysts said the system may need a much larger overhaul than bringing down street ticket prices to solve the problems and to help reduce the attraction of the booming illegal gambling market.


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Read 394 times Last modified on Friday, 01 August 2014 09:49