Thai Lottery ticket hoarders likely to face quota elimination

[webfact]

Lottery ticket hoarders likely to face quota elimination

BANGKOK, 6 November 2015 (NNT) - Prime Minister Gen Prayut Chan-o-cha has instructed relevant agencies to quickly solve problems related to the lottery ticket reservation period.

A recent survey revealed that lottery tickets at the Thai Lottery Center on Sanam Binnam Road are retailing for higher than tickets at the Government Lottery Office (GLO) by 6-8 baht.

The GLO is only selling tickets at 70.40 baht apiece. Government Lottery Committee Spokesperson Thanawat Polwichai said the prices were higher because they were sold via middle men.

It is believed that some lottery agents receiving their booklet quota and serve as intermediaries to vendors, instead of retailing the tickets themselves. Then lottery vendors are forced to sell tickets at even higher prices to maintain profit margins.

The government lottery committee will consider sales bans on November 9 for those attempting to take advantage of other vendors. A recent investigation has also revealed that around 10 lottery vendors are hoarded the tickets through Krung Thai Bank’s booking system.

The quota for lottery tickets will likely be lowered from 15 booklets to 10, in order to give other vendors access to lottery booklets.

Meanwhile, Gen Prayut has urged vendors to respect the regulations. He added that it would be impossible to reduce the cost of insurance for one lottery booklet from 8,000 baht to 800 baht, as it prevents ticket hoarding.


-- NNT 2015-11-06

[fritzzz25]

Didn't this issue get "taken care of" several months ago? How on earth could this be happening again??????

[Briggsy]

Only in Thailand can the various stakeholders concoct a system that changes an infinitely available item (lottery tickets in this case) so as to create an artificial supply shortage. Thus allowing the same said stakeholders to charge a premium for this "product"!!

And there's more!!

Customers are seemingly willing to pay this premium!! For a product that even without the premium only has prizes amounting to 60% of the recommended retail price, way, way below the international average.

And there's more!!

The irrational buying continues even when, as regularly occurs, the GLO have been shown to be involved in the corrupt practice of fixing the draw.

And there's more!!

Unbelievably government after government is unable to fix this very simple "problem". (Probably due to the stakeholders mentioned in the first paragraph)

[Thai at Heart]

One giant money laundering exercise.

[slapout]

Just another example of how gross greed can infect a system /individual, who is mading a decent profit but wants more,more,more. To get this he/ she will screw those who need what little they make working daily to support a family and try to live a decent life style.

Ban the group and individuals who abuse this or any system from being allowed any participation in any part of this or any government system for life. You have to get their attention, no warning, smack them so hard their head rings for a week and access to this cash register is lost to them for life

[William C F Pierce]

There is only one way the government can fix this and that is putting a legal fixed price and conditions on the tickets. That's if it really wants to prove it is trying to clean up corruption in all areas of Thailand.

[FangFerang]

This problem is part of the information age.

If they want to solve it, all sales should be in person, which eliminates scalpers.

But they won't do that. The three tigers are alive and well and combing the internet for easy prey.

It was a cosmetic reform when they enacted it, and it is even more laughable now.

Look at the new mascara!

"He added that it would be impossible to reduce the cost of insurance for one lottery booklet from 8,000 baht to 800 baht, as it prevents ticket hoarding." You mean the hording that continues unabated and which you said you are trying to stop, and the dead shaman proving the pick is fixed?

Sure. I believe that. Do you have any stock market shares in the London Bridge? I want those too!

The new internet gateway will stop porn. but this kind of institutionalized corruption?

No. Your friends are safe. Hire a new spin doctor, because the one you have sucks.

Edited November 6, 2015 by FangFerang

[Briggsy]

There is only one way the government can fix this and that is putting a legal fixed price and conditions on the tickets. That's if it really wants to prove it is trying to clean up corruption in all areas of Thailand.

LOL.

There is a legal fixed price. Nobody in the sales pyramid gives a toss. Neither do the buyers. Neither does anybody who has enforcement powers.

I look forward to your next suggestion.

[bangrak]

The solution is simple and logical, but it is 180°opposed to the 'Thainess' magical mumbo-jumbo, and it hurts the 'vested interests' of some wealthy 'influential' families... What are the chances of simplicity and logic then, the more so when there is no incorruptible driving force to implement the solution?

[cockatoowho]

Easy fix, ban the lottery, gambling is illegal in Thailand.

[oxo1947]

The solution is simple and logical, but it is 180°opposed to the 'Thainess' magical mumbo-jumbo, and it hurts the 'vested interests' of some wealthy 'influential' families... What are the chances of simplicity and logic then, the more so when there is no incorruptible driving force to implement the solution?

The solution is simple and logical

..........And the Solution was.............?????...............................

[LivinLOS]

Unbelievably government after government is unable to fix this very simple "problem". (Probably due to the stakeholders mentioned in the first paragraph)

3 words.. Phuket beach chairs..

Its a sorry indictment, that they literally cant even run a beach concession stand.