GLO: 48 more vendors found selling tickets higher than 80 baht apiece

[Alwyn]

general Prayuth must be puffing his chest out right now and saying "my work here is done". I mean, really? If people are happy to pay that bit extra. so what? If it's a problem then they should be arrested along with the vendor. Is this a smoke and mirrors job to keep people from asking about the really important stuff like.. are the motorbike taxis all still wearing the same coloured vests? What a crock of ka-ka

[phoenixdoglover]

What a bloody waste of time!!

Let the customers decide, how much they are willing to waste...............

Hint to the "government"; There are way more important issues to deal with !!

The GOVERNMENT Lottery Office who run the GOVERNMENT lottery have every right to set the retail price of their tickets, and a lower price will encourage more people to take part, making it both cheaper and with higher percentage rewards.

Supply and demand will soon sort out the profit margins of retailers and wholesalers. If the retail sellers aren't making enough and stop selling, the wholesalers will make a huge loss on their UNREFUNDABLE tickets. They can either reduce their margins or withdraw from the business, allowing others to take their place.

You forgot the part in the "law of supply and demand" where the price is set by market forces, and not fixed.

[halloween]

I haven't crunched any numbers and have no statistics to go by but I would venture a guess to say part of the reason why illegal lotteries exist in the first place has to do with vendors hawking at 120 Baht. From what I gather, in the underground lotteries you can place orders for 80-100 Baht with the same payout ratio as the legit lotto.

So why bother cracking down on hawkers selling at 120 Baht? To crack down on funding organized crime (yes, I'm saying the underground lottos are run by criminal organizations)

The illegal lottery works differently. In it you select your 2 or 3 digit number and if it matches the official lottery win you get a payout dependent on the money bet.

But you can put as much on your number as you can afford, which makes it much more dangerous for those with a gambling problem. In Isaan, a B10 bet on a 2 digit number will return you B700, on Samui B600, everything is expensive here. Real odds are 99:1 so a real mug's game.

The returns on a 3 digit number are slightly less than ten times the 2 digit.

[phoenixdoglover]

I am still paying 110 Baht for my lottery tickets..And I will keep paying 110 Baht because

this is the proper price to pay...

Says who? Just you sunshine! The proper price to pay is the price the Government sets, so you and your patronising ego needs to be same as a child, seen but not heard.

Man with "patronizing ego" criticizes man for having "patronizing ego".

[halloween]

What a bloody waste of time!!

Let the customers decide, how much they are willing to waste...............

Hint to the "government"; There are way more important issues to deal with !!

The GOVERNMENT Lottery Office who run the GOVERNMENT lottery have every right to set the retail price of their tickets, and a lower price will encourage more people to take part, making it both cheaper and with higher percentage rewards.

Supply and demand will soon sort out the profit margins of retailers and wholesalers. If the retail sellers aren't making enough and stop selling, the wholesalers will make a huge loss on their UNREFUNDABLE tickets. They can either reduce their margins or withdraw from the business, allowing others to take their place.

You forgot the part in the "law of supply and demand" where the price is set by market forces, and not fixed.

It would be an unusual market where lower prices reduce demand. Many prices are government fixed, electricity and petrol/diesel come to mind.

[fred Kubasa]

I am still paying 110 Baht for my lottery tickets..And I will keep paying 110 Baht because

this is the proper price to pay...

You do realise at an additional 30 baht mark-up on the government price means a comfy income for the sellers. If they could entice the sale of 500 tickets at 110 baht (which is not unreasonable), they would be making 30k a month. When a waitress earns around 9k, a chef around 12k, and a bank worker around 15k, do you think selling lottery tickets is a poor person's job?

And even with unsold tickets possible reduced back down to 80 baht the morning of the lottery, apart from having a chance of winning, there is enough padding to counter losses.

Waitresses/chefs/bank workers usually have nice surroundings, some air conditioned, don't have to beg a toilet when in need and

don't beg potential buyers. Garbage sorters probably earn even more but I, and few others, would take these jobs !

[phoenixdoglover]

What a bloody waste of time!!

Let the customers decide, how much they are willing to waste...............

Hint to the "government"; There are way more important issues to deal with !!

The GOVERNMENT Lottery Office who run the GOVERNMENT lottery have every right to set the retail price of their tickets, and a lower price will encourage more people to take part, making it both cheaper and with higher percentage rewards.

Supply and demand will soon sort out the profit margins of retailers and wholesalers. If the retail sellers aren't making enough and stop selling,.....

You forgot the part in the "law of supply and demand" where the price is set by market forces, and not fixed.

It would be an unusual market where lower prices reduce demand. Many prices are government fixed, electricity and petrol/diesel come to mind.

Let's look at the impacts on buyers and sellers. GLO wholesale price is 70bht. Street price is about 110 bht, and the mandated price is 80 bht.

Buyers: if price controls are 100% effective, price drops 30bht, about 27%. Buyers with ready access to sellers increase their buying.

Sellers: in a distribution structure with 3 levels (GLO distributors, 5 tigers dominant distributors, and street level vendors) aggregate profit declines from 30bht to 10bht. Profit divided 2 or 3 ways declines by 50 to 75%.

Clearly Sellers are impacted in a major way. It is extremely unlikely new middle-men will enter a market in which profit margins just declined dramatically. Instead, likely options for sellers are:

1. Get out, leaving fewer sellers, poorer geographic coverage

2. Cheat. Become part of a growing black market that permits higher margins.

3. Switch to selling for illicit lotteries

All of these rational responses lead to lower sales and lower government revenues.

Obviously lotteries thrive in countries where the price is fixed. But only when distribution is rationalized and regulated, with guaranteed profit for all sellers. As so many have pointed out, this typically includes an automated system.

Price capping in a chaotic market doesnt work well. While there are initial benefits for buyers, ultimately it seriously harms the sellers, and that leads to bad effects.

Stay tuned.

[fred Kubasa]

The simplest solution is 7-11, they do it all. Have each store employ a handicapped individual to

sell tickets/operate the ticket dispensing machine, on an hourly wage. If they do not show

up for work they don't get paid and one of the regular staff will dispense the tickets.

I have no idea how many people sell these tickets, certainly hundreds, maybe thousands and most at least appear to be

poor/old/disabled and your 7 - 11 idea would put them in front of McDonalds with an empty cup in their hands !