Lottery is gambling, a kind of it of course as a drawing of numbers is involved for a prize at random. It is legal as well as illegal. Some governments allow lottery and some outlaw it. A couple of countries embrace and endorse the lottery to the extent of organizing it at a national or state level.
In India, lottery is run by only some state government organizations and this is the reason it is not legal across the country. Private lotteries have been completely banned to favor the state versions. Kerala, Goa, Maharashtra, Madhya Pradesh, Punjab, West Bengal, Assam, Arunachal Pradesh, Meghalaya, Manipur, Sikkim, Nagaland and Mizoram are equipped with their own lottery departments. These governments facilitate occasional bumper lottery draws apart from weekly lottery draws.
Sky Lottery is one of the renowned lotteries among lottery gamblers or lottery lovers and it is based in Goa. It was founded decades ago and has grown several folds over time. Many have won handsome monetary prizes and this is the reason it is regularly attracting more players. It is cheaper compared to the prize money offered.
Can Lottery Money be Taxed
It is always argued whether the prize money won from lottery should be taxed. Most governments prefer taxation from lottery money. However, some governments have placed slabs while taxing and the deduction is made as TDS, which means the tax gets deducted at the source. This means the net price money is received instead of the gross. The tax may sometimes go beyond 30 percent.
If the prize money is received in kind, the tax is deducted based on the market value of the product. Let us look into an example. Mr. XYZ wins a car from a lottery and the market value of it is Rs 4 lakhs. The government will tax Rs 4 lakhs. If the tax is 31.2 percent, the lottery service provider needs to pay the government Rs 1,24,800 before handing over the key to the winner.
Sky lottery is taxed and the money is paid to the Goa government.
Can Lottery Tickets be Cancelled
Yes, lottery tickets can be cancelled. A process is followed to cancel an entry in a lottery with respect to specified timeframe and it is usually before the closure of a draw. The lottery can even be cancelled immediately after purchasing the ticket. Some lottery service providers facilitate cancelling online, either through their official websites or mobile apps. However, an online account is created to proceed with the cancelling.
However, the fraud in cancellation process has increased lately. It is therefore suggested to read the cancellation terms before buying the tickets. It is simultaneously important to get assured that the cancellation process is not under the control of agents or ticket sellers. It should completely be under the control of the buyer. Sky Lottery has introduced a system of OTP sent on the mobile number of customers to verify whether the cancel process has been initiated by the ticket owners and not any third party including agents or sellers.
Can Lottery Tickets be Redeemed Anywhere
Yes, but only at authorized agents. Sky Lottery has agents in multiple spots and the lottery winners can redeem from these authorized agents. However, if the prize money is high, the redemption process is not facilitated at the agent points. One needs to visit the authorized branches or main offices of the lottery. A proper verification process is conducted to understand the money goes to the genuine owner of the ticket. Some lottery providers ask for certain proof like proof of residence or proof of identity.
Do Lottery Subscribers Ever Win
Obviously yes. Lottery subscribers do win. Some subscribers even win giant prize money including a jackpot prize, which is in a couple of lakhs or crores. Sky Lottery is one popular name and has earned enough fame after tons and tons of subscribers have won prize money over the years and decades. Many gamblers in and around Goa have built their houses with the Sky Lottery prize money. As an aftermath, it is widely to be believed that lottery subscribers do win from lottery tickets.
However, the chances of winning are not abundant. Lottery is a kind of gambling and a bit of good luck is involved to win decent prize money. The winning ratio could be 1:1000 or even more and this is the reason it is usually said to keep on trying until the big day comes. Many lottery lovers consider buying lottery tickets as an important expenditure in their monthly budget.
Experts advise to avoid chasing the losses in lottery or gambling. Buying a lottery ticket once a week or a month is considered decent compared to buying multiple tickets every day. Lottery should not be an addiction. It can be a habit though to buy on a weekly or monthly basis.
It is warned not to compromise the family budget for a lottery ticket. The tickets should be bought from excess money from the monthly budget. If a household has a monthly income of Rs 25,000, the head of the family can spare Rs 100 or Rs 200 a month for lotteries. The spending should not be in the thousands.
Goa Sky Lottery Chart
The Goa Sky Lottery chart is easy to follow and understand. Several websites publish the chart on a regular basis. A simple Google search can help in landing to one of the related websites. Some of the websites update the chart every hour to keep ticket owners updated with the latest result or information.
Verdict
Even though lottery is being promoted by several state governments in India, it is important to understand the emotion of losing. It is always suggested to avoid chasing losses and risk only the amount that one can afford. A regular lottery lover consider buying tickets of a small or lower value once a week or a month and avoid regretting if nothing is won. Lottery and gambling is a game of luck. Win cannot be tasted with permutation and a combination of numbers.