Thanks to the product adjustment made in the middle of the year, the sales of the Taiwan sports lottery did not fall further in 2020. According to the results report of the Taiwan Sports Lottery Corp (TSLC), sales for the year reached NT $ 40, 5 billion (US $ 1.44b).

These figures represent a decrease of 11% compared to the NT $ 41.6 billion that came in in 2019. Despite the disruptions caused by successive waves of the coronavirus pandemic in the Major League game, the country is satisfied with the result. Especially when comparing its situation with that of other countries that sell similar products and your annual losses could be up to two times higher.

In mid-march last year, the Sports Administration that oversees the TSLC’s activity took action after the National Basketball Association decided to suspend its current season, the Taipei Times reported.

Then, as other major sports followed suit, the Sports Administration added a greater variety of sports to the list of allowed bets, including e-sports supplied by TSLC technology partner Intralot and Sportradar.

Likewise, TSLC authorized live betting and individual games within those games and improved payout rates with higher prizes after major league teams returned to the stadiums in the summer.

These changes brought shared benefits for the Administration and for the more than 1,500 lottery retail stores. Otherwise, the commission losses for the entire sector would have been very high.

Yet the Welfare Lottery, which oversees Taiwan Lottery Co, has not reported its results for 2020. Although its sales goal for last year was NT $ 126 billion, just a small increase from NT $ 124 billion of 2019. Since the lottery was launched in 1999, this was the third highest total on record.

The Taiwan Criminal Investigation Bureau reported last week that 40 people were arrested on charges of fraud with online lottery gambling at a headquarters in New Taipei City.

The scammers created fake profiles of people on social media to target the unwary. They were very attractive young people who lived ostentatiously, thanks to their supposed winnings obtained through a system capable of predicting the winning numbers in fake lottery draws. Thus it was possible to swindle 600 foolish “fortune hunters”.

Source: https://calvinayre.com/2021/01/05/business/taiwan-sports-lottery-averted-pandemic-disaster/

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