The COVID-19 pandemic impacted every person in a specific way. Most people experience mental stress and anxiety during the pandemic. But the disruptions caused by the pandemic made many people borrow money and pledge their gold jewellery. A large percentage of borrowers lack adequate funds to repay loans and get back their gold jewelry after the COVID-19 lockdowns and shutdowns.
According to LiveMint.com, “Rising financial distress and the inability to meet banks’ collateral demands are forcing Indian households to give up pledged gold jewellery despite its sentimental value. Many lenders are now planning to auction jewellery pledged with them, as the second wave of the coronavirus pandemic hits customers who are typical gold loan borrowers.”
The borrowers will need a large sum of funds to repay loans on time. But they will find it challenging to arrange money due to lack of employment opportunities and decline in monthly income. Many borrowers will play local lottery games like Gali Matka to win millions of rupees in a few minutes. The simple format and rules of Gali Matka make it easier for every borrower to participate in the local lottery game.
At the same time, Gali Matka is a number-based lottery game. A borrower can win millions of rupees in a short amount of time by placing bets on numbers ranging from 00 to 99. Also, he can choose the winning number by getting tips and advice from many online sources. There are many instances when players become millionaires simply by choosing the right number and payout option.
That is why; many studies predict a surge in the popularity of local lottery games like Gali Matka after the COVID-19 pandemic. The lottery game will help many people to supplement their income and meet various expenditures. Also, it will help thousands of borrowers to recover their gold jewellery by repaying debts on time and avoiding penalties.