South Korea gov't to allow online lottery
According to a report published in The Korean Times, the government will allow people to buy Lotto- the country's most popular lottery ticket- online by the end of next year.
The government also said it would introduce the 5% cap as well as limiting the amount for which each individual can buy the popular lottery online due to concerns over individual speculative drive. However, local authorities are conviced that online sales would not surpass 5% of its total sales, but concerns rise over the policy.
"The poor and uneducated people are typically the most avid buyers of Lotto. Hence, critics call the lottery a tax on the poor," said a professor at a Seoul-based university, who asked not to be named.
"The online sales would lead to easier access to Lotto, which would prompt more people to buy Lotto. I am concerned that the poor would do so in many cases."
According to the Korea Lottery Commission, Lotto sales reached USD 3.04B last year. The sales were the highest since 2003.
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