The official lottery of Bhutan, an independent, landlocked country bordering Tibet and Sikkim, said it recorded profit above expectations in its first year of operations in 2017.
The lottery business, run by Bhutan Lottery Limited (BLL), officially launched on August 8, 2016, with the lottery beginning in November of 2016, offering a monthly lottery scheme.
Profit recorded in its first year of operations reached BTN20.9 million (US$306,480).
BLL’s chief executive officer, Phenphay R Drukpa, said they were surprised by the results, expecting to only break even in the first year of operations.
“We expected to profit only starting 2018,” he said.
Upon launch, the lottery went under a monthly draw, however, after the end of this month, it will be replaced by a fortnightly scheme, allowing people to buy and in win every two weeks.
Speaking about expansion, BLL’s marketing manager, Karma Choden, said the company was also looking to reach further into rural areas.
“The number of agents would also be increased,” she said “This is to give equal opportunity to all.”
Choden said that BLL is also looking at offering an online lottery product in the future, with a ‘letter of intent’ already submitted to the government.
It has been working towards starting a lottery that would target the Indian market, she said.