The Thai lottery is a form of gambling which is legal in Thailand and is administered by the Government Lottery Office. The draw takes place twice a month. It is one of the two legal forms of gambling in the country. It is a popular form of gambling with people of all ages and all walks of life.
The Thai lottery has a long history and a rich tradition. It dates back to the late 1800s, when King Rama V granted the Royal Bodyguard the authority to operate the lottery. In 1933, the Thai government regulated the lottery and made it a regular source of income. While winning the lottery requires a huge amount of luck, the odds are great if you have a good strategy in place.
Winners must claim their prize within two years from the date of the draw. The government requires winners to pay 0.5% tax on the prize. If the ticket cost less than 20,000 baht, the winner can choose to claim their prize in cash. However, if the ticket cost more than 20,000 baht, he or she must pay a commission to a local lottery agent.
In Thailand, lottery vendors must be at least 20 years old and must be licensed to sell lottery tickets. Over 35,000 vendors are registered with the government, including 15,000 in Bangkok and 20,000 in provinces. Vendors are allowed to hire sub-vendors, but some locals don’t feel comfortable buying from them.
Although the government mandated price of lottery tickets is 80 baht, many lottery vendors overcharge for their tickets. It’s possible to get cheaper tickets if you know where to look. Some vendors sell a pair for 120 baht. However, the price of tickets on the streets can vary widely. In Thailand, many lottery tickets are sold for more than twice the price mandated by law.
Thais are big gamblers. About 70% of Thais gamble on a regular basis despite government restrictions. As a result of this, the lack of legal ways to gamble has made gambling a lucrative business for illegal operators. The Thai lottery underground has a large network of dealers and operators. These parallel lotteries can be five times the size of the official lottery.
Thai lottery prizes are huge. There are several jackpot prizes, the biggest of which is 30 million baht. The official legal price for a single ticket is 80 baht. Purchasing more than two tickets increases the chances of winning. But, if you can’t afford to buy a whole lot of tickets, you might be able to negotiate a lower price.
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