Kerala spends 15000 cr on lotteries in a year on buying lottery tickets
The cumulative AUM of Kerala on the retail side is just 12000 cr after 30 yrs
1.25x of total MF AUM every year on lottery tickets!
Src - Nilesh Shah Sir's video
Decided to delve a bit deeper into this -
The cumulative AUM of Kerala on the retail side is just 12000 cr after 30 yrs
1.25x of total MF AUM every year on lottery tickets!
Src - Nilesh Shah Sir's video
Decided to delve a bit deeper into this -
1/n
The total revenue earned by Kerala lottery in the last 54 yrs is 64315 cr, net profit of 12500 cr
In the last 10 yrs itself, revenue was 60000 cr, with a net profit of 11800 cr
Interestingly, the Govt., from 2016 to 2020, earned Rs 291 crore from non-claimers.
The total revenue earned by Kerala lottery in the last 54 yrs is 64315 cr, net profit of 12500 cr
In the last 10 yrs itself, revenue was 60000 cr, with a net profit of 11800 cr
Interestingly, the Govt., from 2016 to 2020, earned Rs 291 crore from non-claimers.
2/n
Kerala State Lotteries is a lottery program run by the Kerala Govt. Established in 1967, under the lottery department of the Govt. of Kerala, it is the first of its kind in India
In 1967 all pvt. lotteries were banned and the Govt. started the Kerala State Lotteries
Kerala State Lotteries is a lottery program run by the Kerala Govt. Established in 1967, under the lottery department of the Govt. of Kerala, it is the first of its kind in India
In 1967 all pvt. lotteries were banned and the Govt. started the Kerala State Lotteries
3/n
The idea behind the setup of the new department was from the then Finance Minister of the state, P. K. Kunju.
He had earlier experience of conducting the lottery when he was the chairman of Kayamkulam MSM Trust
The idea behind the setup of the new department was from the then Finance Minister of the state, P. K. Kunju.
He had earlier experience of conducting the lottery when he was the chairman of Kayamkulam MSM Trust
4/n
The objectives of starting the program were to provide employment to people and supplement government finance without disturbing the public
Kerala State lotteries hadn’t made a loss since its inception!
The objectives of starting the program were to provide employment to people and supplement government finance without disturbing the public
Kerala State lotteries hadn’t made a loss since its inception!
5/n
Some crazy stories -
October 2022 - a fish seller in Kerala got a bank notice warning him that his house would be attached if he did not pay back his Rs 9 lakh loan. But the despair was short-lived as a few hours later, he had won Rs 70 lakh in the Akshaya lottery
Some crazy stories -
October 2022 - a fish seller in Kerala got a bank notice warning him that his house would be attached if he did not pay back his Rs 9 lakh loan. But the despair was short-lived as a few hours later, he had won Rs 70 lakh in the Akshaya lottery
6/n
A Kerala man spent Rs 3.5 Cr on lottery tickets since 1970 and won only Rs 5000. He started buying them at the age of 18. Since then, he has been buying around 10 lottery tickets every day!
In Nov 2020, the daily sale of lottery tickets was more than 1 crore!
Crazy!
A Kerala man spent Rs 3.5 Cr on lottery tickets since 1970 and won only Rs 5000. He started buying them at the age of 18. Since then, he has been buying around 10 lottery tickets every day!
In Nov 2020, the daily sale of lottery tickets was more than 1 crore!
Crazy!
Plz note Kerala State lottery data taken from their official website
but 2022 data wasn't given
Another news article stated that 15000 cr income was during 2/2.5 yrs, considering that too, the number is too high when compared to Mutual funds :)
but 2022 data wasn't given
Another news article stated that 15000 cr income was during 2/2.5 yrs, considering that too, the number is too high when compared to Mutual funds :)
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