Videocon To Try Its Luck In Online Lotteries

The Rs 4,000 crore Videocon group is foraying into the online lottery business and is planning to offer its first product in the next three months.

The group has secured a licence from the Arunachal Pradesh government and is also planning to bid for other state licences.

The Videocon group is establishing a new company headed by group chairman V N Dhoot for the lottery business.

The technology would be provided by Spain-based Win systems which has an alliance with Motorola.

Initially, 4,000 terminals would be deployed which would be later scaled up to 8,000. Videocon is expecting a turnover of about Rs 1,000 -1,200 crore in the first year.