Financial Times

New rules, regulations for Development Lotteries Board

Lottery operations by the Development Lotteries Board (DLB) is to be streamlined by introducing a new set of rules, regulations and a code of conduct, a senior official of the DLB told The Sunday Times FT.
He added that this will help to boost the confidence of Development Lottery buyers, agents sellers, countrywide as well as the staff of the DLB. The Development Lottery is currently being conducted in accordance with the Development Lotteries Act No 20 of 1997.

The Board follows administration and financial regulations of the government with full transparency, however the senior DLB official said that new rules and regulations are essential to maintain it as viable commercial entity. On the other hand it will facilitate the DLB’s future action plan to introduce online and other IT related operations.

The Board will take measures to connect its 60 lottery agents via satellite when making payments, receiving orders for lottery tickets and other financial and administrative functions. Even the verification of winning tickets will be done online. Senior DLB official said that new rules and regulations and a code of conduct are essential to introduce such modern lottery operations. The DLB also plans to install lottery vending machines in supermarkets under the new initiative soon.

The Board plans to earn record revenue of Rs.7 billion per annum with the increase in the price of tickets from Rs.10 to Rs.20. The senior DLB official said doubling the price of lottery tickets would not affect ticket sales as the value of prizes too has doubled. Ten rupees per ticket is simply nothing when compared to the prices of other goods, he said. He noted that the sales have been increased by 30 percent after doubling the price and prizes of the lottery. The last prize revision was in 1988.

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