A new online lottery is expected to be operational in Myanmar before the end of April as the military regime seeks to repair its ‘battered’ economy.
As reported by Bloomberg, It is hoped that the digital raffle, started in partnership with private companies, will mitigate the slump in tax collections from its traditional lottery business.
Several local and foreign firms are also in talks with the authorities in a scheme that will allow players to use bank accounts and other authorised payment channels.
Zaw Min Tun, lead spokesman for the State Administration Council, commented: “We aim to launch it either in March or April but if things go as planned, we’re in a favourable position to launch it earlier.
“It’ll depend on how far our discussions with these companies go.”
Myanmar’s physical lottery will co-exist with its online offering as the country bids to recover from the effects of the pandemic, coupled with the exit of foreign companies following the military coup in February 2021.
According to the World Bank, the country’s economy contracted an estimated 18% in 2021 with its currency, kyat, down 34%.