The Thai lottery is one of the only two forms of legal gambling permitted in Thailand and is drawn twice per month on the first and sixteenth. It is popular with over 19 million of the country’s inhabitants, or 28.6% of the population, and is administered by The Government Lottery Office (GLO). A single ticket costs 80 baht and tickets are sold in “ticket-pairs”. A single prize number can win either the first prize, B400,000 or the second prize, B10,000. The third and fourth prize is based on the last three digits of the winning number, while the fifth prize is based on the last two.
The lottery is one of the few forms of gambling that is not subject to the same taxation as other types of legalized gambling such as casinos and horse racing. However, the winnings are still subject to capital gains tax at a rate of X-XX million to one, resulting in significant losses on any long term play. Despite this, some people have managed to make money from the lottery by using various strategies to improve their chances of winning. One example is Zjelko Ranogajec, who started his career in blackjack counting and then moved on to bet on anything that would yield a profit – including the lottery. He was a professional gambler who made less than 1% of his turnover, but he did manage to bank some money and avoid taxation.
While the majority of Thais simply choose their numbers from a list, there are some who take a more spiritual approach and use dreams, horoscopes or messages from the universe disguised in mundane events to select their lucky numbers. Some of these individuals even go to ghostly shrines to receive a blessing from the spirits before choosing their numbers. Regardless of their strategy, most Thais accept that they will never be able to win the jackpot prize of X-XX million to one.
Although some tourists have been known to win the prize, foreigners are not allowed to purchase a ticket from outside the country. They are instead required to buy a ticket within Thailand and be in the country when the results are announced. Despite this, some Thais have been known to sell their winnings to friends and family who are not in the country for them to enjoy. In many cases, this is a lucrative business for the sellers because they can charge an additional fee for selling the tickets. However, the resale value of these tickets is generally much lower than their original price.
