Nigerian government changing the state of lotteries - page 2.

Twinkledoe

full member

Activity: 1904

Merit: 138

★Bitvest.io★ Play Plinko or Invest!

Quote from: Hippocrypto on July 19, 2021, 05:43:00 PM

This issue is seriously undertaking the who country right now, and if this was totally settled for good I guess it would provide benefit for the entire country. Hopefully it won't be abused and come to a point that corrupt takes place. Every country was facing those challenges, and it's the worst thing that I'm sighting to observe due to greed leaders.

Corruption is everywhere and we can't deny the fact that there will always be an individual wherein greed will overtake him. But we are just hoping that the majority will do the right thing so the money that they will get will indeed go to the right people or organizations. Let us just look at the brighter side on this kind of action. It is hard if there are people who are after for their own interest.

Hippocrypto

sr. member

Activity: 1484

Merit: 277

Quote from: fiulpro on July 12, 2021, 11:16:02 AM

~snip~

So what the government is going to do :
1. Make sure revenues are in order
2. Monitor the lottery system
3. Spread it all across
4. Better management
The reason why the government is doing this is because they want to look for a revenue source which is not only sustainable but unexplored in Nigeria.
There still will be laws and risk factors which the businesses have to adhere to in the upcoming days. Therefore it's not only going to be a profitable business but at the same time it's also going to give government huge revenue from the same.
Let's monitor what happens in Nigeria and let us hope that the revenue, taxation, rules, regulations won't be that harsh.

This issue is seriously undertaking the whole country right now, and if this was totally settled for good I guess it would provide benefit for the entire country. Hopefully it won't be abused and come to a point that corrupt takes place. Every country was facing those challenges, and it's the worst thing that I'm sighting to observe due to greed leaders.

paxmao

legendary

Activity: 2366

Merit: 1624

Do not die for Putin

So basically, another goverment taking the reins in the name of better management and more honest play, level playground or even arguing that is for the good of people. And if I were 5 years old and believed that Santa Claus was to come and buy a permanent residency in Nigeria I would also believe that the government is trying something that has nothing to do with levying taxes, getting up to the last dime and probably take it to Mauritius as a retirement plan. Am I too cynic? (Do I care?)

Silberman

legendary

Activity: 2534

Merit: 1338

Quote from: Woodie on July 17, 2021, 01:29:34 AM

"Unexplored" meaning the Nigerian government wants its huge population to gamble more ! I don't like the sound of it and afaik these are the kind of issues that bring conflict knowing that different religious groups have different opinions over gambling. Tbh It's no brainer if gambling is taxable the real winners here are the government and not the people.

I do not think that is what we are seeing, what we are seeing is an increase in the demand of gambling and they want to take advantage of it by charging more taxes, this is what governments have always done and in fact this happened to this market as well, when this market was small governments did not even bother with it but once it grew to a good size then they put all kind of taxes trying to benefit from it, it is the same concept with the difference those lotteries do not really have a way to try to avoid the taxation.

CryptocurencyKing

hero member

Activity: 1288

Merit: 504

Quote from: fiulpro on July 12, 2021, 11:16:02 AM

<>

One thing about the Nigerian government is that, they live to talk. To act as though, they are doing something, something that would be of great benefit to the citizenry but in turn, its just another mirage. There is nothing new of this news. I might not have any statistics or proof to the later but, I'm quite sure the proof is very visible before our eyes, for those of us that are Nigerians with the many bet brands and outlets around all corners of our streets within the nation. Its a lucrative business for sure and the government, let alone the bet owners have already generated or made a fortune of a life time out of this investment. Its very much an over explored one the way I see it.

robelneo

legendary

Activity: 3416

Merit: 1225

Lotteries are always a big attraction for any countries whether poor or rich countries, it's going to be profitable for both parties, as long as the entry bet is acceptable to all sectors of society and the prize is attractive to all sectors, I don't know about Nigerian state when it comes lottery they may have underground lottery working already as we have here in our country, this is will be only instances that the government can't collect taxes if there are underground lottery operator already.

STT

legendary

Activity: 4102

Merit: 1454

Quote from: Woodie on July 17, 2021, 01:29:34 AM

"Unexplored" meaning the Nigerian government wants its huge population to gamble more ! I don't like the sound of it and afaik these are the kind of issues that bring conflict knowing that different religious groups have different opinions over gambling. Tbh It's no brainer if gambling is taxable the real winners here are the government and not the people.

The idea that is quite justifiable is not to increase gambling especially in religious communities but just to allow those who already gamble to be able to do so and benefit their own country with the revenue of both companies more locally and fair tax on it. This is so common an argument and the cash is much needed in a pandemic to ensure regular fiscal budgeting though oil is up and Nigeria is an OPEC nation nothing is simple here. Freedom to bet is far more profitable then repressive regimes driving business underground to cash handling gangs etc.

Every country of the world has massive amounts of gambling going on whether its banned or not, its a totally normal human activity and game to play. The only difference is really criminalizing a population and restricting quite simple human freedom.

crwth

copper member

Activity: 2940

Merit: 1280

https://linktr.ee/crwthopia

Quote from: peter0425 on July 16, 2021, 11:51:11 PM

Exactly that is what i also seeing this in future, Nigeria will make it one of the best gaining in gambling once this become reality.

Shouldn't you worry about how this is going to affect the culture and the behavior of the citizens? It's quite hard to think about but it's needed because the effect of having the opportunity to gamble can make some people get addicted to it and forget everything that they are building for. This should be done with other regulating bodies that would make it controlled when it comes to this activity.

Alisha-k

member

Activity: 840

Merit: 23

It's a welcome development for Nigerians but the fear is how would the revenue generated by this leaders be spent. If the funds could be channeled to infrastructural development or economic growth it would add a massive impact even making this lottery companies to support not just by the revenue the pay to the government but with other donations.

Rengga Jati

hero member

Activity: 2072

Merit: 656

royalstarscasino.com

Quote from: smyslov on July 13, 2021, 11:00:40 PM

Here in our country, our government is the one running the lottery and it's one of their main revenue-generating projects, they get all the income and they are not taxing it, ..

Maybe this is a unique way for a country. They spend money as a vibrant for the citizens.
It is one of the good ways to help people when in a pandemic like this. But is it effective?
Moreover, how can we be sure they really do a foam with honesty and fairness?
Hopefully, Government will not do nepotism and also corruption because this is a lot of money.

RealMalatesta

legendary

Activity: 2338

Merit: 1124

Quote from: smyslov on July 13, 2021, 11:00:40 PM

Here in our country, our government is the one running the lottery and it's one of their main revenue-generating projects, they get all the income and they are not taxing it, it's ok for Nigeria to impose additional taxes, especially in the pandemic where any government especially if the government is classified as a third world country the people of Nigerian are the one that will benefit from this, unless the government is corrupt.

Lotteries from the governments are actually a nice thing if the funding goes towards economic development. Everyone has a bad feeling when paying taxes but the same people would happily lose to the lotteries and casinos. If the government runs the casinos or lotteries, they can collect revenue without actually hurting people too much by asking for higher taxes.

Indeed Nigeria is suffering from a crisis and that isn't hidden from anyone so imposing taxes isn't the worst thing because someone who manages to gamble in Nigeria must be earning more than required and should have no problems paying taxes while the casinos in any country earn massive and asking higher tax from them is another good way to make the country stronger economically.

Zilon

sr. member

Activity: 966

Merit: 421

Bitcoindata.science

Lottery generates massive income and should aid in generating revenue for it's metropolis but my fear would be if greed wouldn't be found on the path of this so called leaders knowing how hash the treat their Citizens. Who knows if this could be another plot to extort so as to enable their greedy tummy with loothed funds

tulusikhlas

sr. member

Activity: 1526

Merit: 252

Quote from: just_Alice on July 13, 2021, 04:42:44 PM

Didn't lotteries already have legal status in Nigeria? In that case, that is not that much of a change, basically, that's the government officially stating that lotteries are profitable and "we'll take care of it from now on". But that could be a good sign.

Indeed, governments can make huge profits from the lottery business. For instance, in the US in 2015 the overall net income generated from lotteries was as big as $21.4 billion. Hopefully, the new approach from the government will make things more regulated and help Nigeria to generate big income as well.

Regardless of how the lottery system works in their respective countries, because all have basic rights that have been protected by Nigerian regulations, and if they impose taxes on Lottery games it should no longer be a problem.

Especially with the inclusion of state finances, it must be reconsidered so as not to complicate the pace of gambling. this has been contained in white papers in several reports by the Nigerian authorities.

RokokGudangGaram

full member

Activity: 966

Merit: 102

Quote from: btc78 on July 17, 2021, 02:44:28 AM

And that is the main objective mate, for the government to Earn as gamblers will always Play gambling that is the reality so no matter what the government stands as long as they are not banning gambling still people will gamble.
so i think the government is only seeking for a Piece of cake because in what they are having now , only the operators of gambling is benefiting from this things that they surely wanted to take part.
and besides even in the most strict country against gambling there are still gamblers lets admit that fact, so just let the government earn and besides they will use the funds for the economy .(as long as they are not that corrupt country)

That may be true, but I know better now that there will always be corrupt officials in every administration of any country. It is correct that the government would also want to make profit out of gambling which can be done through taxation, which is intended to be used for funding national projects and agendas, however the distribution of benefits is not really guaranteed unless the government is committed and will show some transparency.

Sterbens

sr. member

Activity: 1848

Merit: 341

Duelbits.com

Quote from: btc78 on July 17, 2021, 02:44:28 AM

Quote from: Woodie on July 17, 2021, 01:29:34 AM

"Unexplored" meaning the Nigerian government wants its huge population to gamble more ! I don't like the sound of it and afaik these are the kind of issues that bring conflict knowing that different religious groups have different opinions over gambling. Tbh It's no brainer if gambling is taxable the real winners here are the government and not the people.

And that is the main objective mate, for the government to Earn as gamblers will always Play gambling that is the reality so no matter what the government stands as long as they are not banning gambling still people will gamble.
so i think the government is only seeking for a Piece of cake because in what they are having now , only the operators of gambling is benefiting from this things that they surely wanted to take part.
and besides even in the most strict country against gambling there are still gamblers lets admit that fact, so just let the government earn and besides they will use the funds for the economy .(as long as they are not that corrupt country)

While gambling is controlled by the government, we cannot have complete freedom when playing. In addition to monitoring fees and high withdrawals, Nigerian government monitors are increasingly interested in having access to our accounts.
Actually, in terms of gambling, the government is more hostile, if you look at it from a criminal perspective. and even then depending on the rules in force in certain countries. what is certain is that gamblers do not like the way the government conducts fund checks in all gambling sectors.

palle11

sr. member

Activity: 2366

Merit: 332

Quote from: Woodie on July 17, 2021, 01:29:34 AM

"Unexplored" meaning the Nigerian government wants its huge population to gamble more ! I don't like the sound of it and afaik these are the kind of issues that bring conflict knowing that different religious groups have different opinions over gambling. Tbh It's no brainer if gambling is taxable the real winners here are the government and not the people.

You kind of taking it personal like you know the op in real life. I guess he is talking about opportunities to explore for those who are involved into it and like forcing others to . Gambling is becoming a new venture for people to make money especially the online type and now cryptocurrency being used also. Governments definitely will also want to make profit from it to carry on with social amenities. They won't fold arms and watched gambling outfits making money from masses without remittance.

imstillthebest

full member

Activity: 1638

Merit: 122

Quote from: Woodie on July 17, 2021, 01:29:34 AM

"Unexplored" meaning the Nigerian government wants its huge population to gamble more ! I don't like the sound of it and afaik these are the kind of issues that bring conflict knowing that different religious groups have different opinions over gambling. Tbh It's no brainer if gambling is taxable the real winners here are the government and not the people.

they can propose it to unexplored areas but they should not force them if the people in that area wont agree because its against in their religion or something .
to some unexplored areas they can agree and they are not forcing anybody to gamble .
you will only gamble if you are willing and your money will go a long way because it can help in the improvement of your country.

Taskford

hero member

Activity: 2520

Merit: 783

Quote from: mu_enrico on July 13, 2021, 10:58:04 AM

I think lottery isn't a substantial source of income and doesn't have the ripple effect. I think deregulation of offline/tourism based gambling (and promotion) will have more significant impact on the community because of the job creation and stuff. There's no point of sucking money from its own citizens since they will be poorer, so the effort should be to bring rich people to play in luxury casino resorts.

Actually that's what I think also since they can only get low revenue to gambling compare to the other things so maybe this thinking to make their citizen as milking cow by politicians somehow not quite accurate, Maybe there are some especially the government agencies who handle the gamble regulation but I think these is not so rampant on gambling scene in their country. There are so many things that they can select to corrupt so maybe to earn huge on this they should really make those reach guys convince to gamble and earn with them but I don't think rich people on their country will bother to gamble a huge part of their wealth just to have fun on lotteries or any other type of gambling.

iv4n

legendary

Activity: 3248

Merit: 1179

Quote from: Woodie on July 17, 2021, 01:29:34 AM

"Unexplored" meaning the Nigerian government wants its huge population to gamble more ! I don't like the sound of it and afaik these are the kind of issues that bring conflict knowing that different religious groups have different opinions over gambling. Tbh It's no brainer if gambling is taxable the real winners here are the government and not the people.

Government is always a winner, you know that saying "the house always wins", well, the government is the main house! The gambling industry, or any other, can make or lose money, but taxes will be paid anyway!

I guess all this is not only about people gambling more, but it's also about "provably fair"! How to know that lottery is not rigged? Government and some regulations can help with that part, it's they who need to can make a lottery fair and honest!

I am tired of seeing "religion/religious groups" in gambling section threads! I am getting a feeling that religious people think more about gambling than I do (and I gamble every day for years), of course in a negative way... and having something negative inside your heart is a bad thing....

btc78

full member

Activity: 2520

Merit: 214

Eloncoin.org - Mars, here we come!

Quote from: Woodie on July 17, 2021, 01:29:34 AM

"Unexplored" meaning the Nigerian government wants its huge population to gamble more ! I don't like the sound of it and afaik these are the kind of issues that bring conflict knowing that different religious groups have different opinions over gambling. Tbh It's no brainer if gambling is taxable the real winners here are the government and not the people.

And that is the main objective mate, for the government to Earn as gamblers will always Play gambling that is the reality so no matter what the government stands as long as they are not banning gambling still people will gamble.
so i think the government is only seeking for a Piece of cake because in what they are having now , only the operators of gambling is benefiting from this things that they surely wanted to take part.
and besides even in the most strict country against gambling there are still gamblers lets admit that fact, so just let the government earn and besides they will use the funds for the economy .(as long as they are not that corrupt country)

Topic: Nigerian government changing the state of lotteries - page 2. (Read 564 times)