Chinese Ministry of Finance reports 2.5% year-on-year decrease in lottery ticket sales

According to the Chinese Ministry of Finance, sales of lottery tickets in November decreased 2.5% year over year to RMB 50.54 billion ($7.1 billion).

Nonetheless, the nation’s welfare system saw a 29.5% increase in lottery ticket sales, totaling RMB 16.94 billion ($2.38 billion). On the other hand, income meant to support the sports industry decreased by 13.3% annually to RMB 33.6 billion ($4.72 billion).

The administration blamed November’s decline in lottery ticket sales on a broad comparison basis set up the year before. China’s lottery ticket sales for the first 11 months of 2023 came to RMB 526.41 billion ($74.01 billion), a significant 45.1% increase over the same period the previous year.

It’s important to note that ticket sales proceeds are allocated for administrative costs, public welfare programs, and prize funding in accordance with Chinese lottery administration criteria.

Original story by: Asia Gaming Brief