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Thursday, 13th August 2009 (3779 views)

A lottery contest offering gold coins as the top prize has become particularly popular among female fans of the precious metal in Kerala, India.

The Kanakadhara lottery has 201 24-c gold sovereigns as the main prize and now takes place fortnightly after previously being held once a month, Express Buzz reports.

These coins are free of the 30 per cent income tax and ten per cent agency commission fees normally charged to lottery winners.

According to the Hindu, the structure of the lottery was changed earlier this year to so that the second prize consists of 25 sovereigns and the third prize - of which there are five - offers five of the coins to each winner.

"Kanakadhara is a big hit among women. They are attracted by the prospect of winning so much gold without having to pay any tax or commission," remarked P Jayakumar of the Padmanabha lottery agency.

 

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