State lottery to reduce number of tickets due to declining sales

The number of Aung Bar Lay state lottery tickets will be reduced due to a sales decline in some markets, but the size of the reduction is still unknown, said an official of the state lottery department in Yangon.

More than 250,000 tickets were left unsold in April for May, and more than 500,000 lottery tickets were left unsold in May for June, the lottery official said.

“We have to reduce the tickets as sales have declined. As we pre-order the tickets, there may be many left, depending on the market,” he said.

After the sale of K500 lottery tickets ended in May, sale of K1000 lottery tickets declined.

“I bought plenty of tickets previously, but now I can just afford three tickets. Five tickets cost K5000. I only buy tickets near the end of the month. At that time, I don’t have much money left. I used to buy K500 tickets for K650, but now the price is K1000,” said Ma War War of Mingalardon township.

“We sell lottery tickets depending on demand. The printing of tickets varies depending on demand. If they ask me to sell 40 alphabets this month, then I have to sell them all. If I sell only 30, then the price of the tickets will go up. How much we earn depends on sales. Tickets are printed depending on the orders, and sales depend on the demand,” said a senior official of the Internal Revenue Department.

If a seller fails to follow the terms of the contract to purchase and sell lottery tickets, his or her purchase will be terminated, and their performance guarantee will be forfeited to the state, according to a statement issued by the state lottery on June 3.

Lottery ticket sellers have to sign the contract and pay the performance guarantee by August 15. They have to purchase their permitted number of books in advance for K600 for three months, which includes a K200 guarantee per 11-ticket book.

Source: Myanmar Times

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