China's lottery sales see biggest year ever as games become ‘more fun'
China's total lottery sales surpassed 600 billion yuan (US$82 billion) last year for the first time in its 40-year history, according to fresh figures from the Ministry of Finance.
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Total sales for 2024 hit a record high of 623.5 billion yuan, marking year-on-year growth of 7.6 per cent. The single-digit growth continued the upward momentum over the past three years that has provided a high comparison base.
Guizhou province, for example, saw the nation's largest-ever lottery payout last February, when a 28-year-old man won 680 million yuan. In comparison, Hong Kong's biggest lottery jackpot – HK$188 million (US$24.14 million) – was won during the recent Lunar New Year holiday.
State media reports that sales of lottery tickets help support the nation's welfare system and its sports industry, and under lottery-management rules, funds are used for administrative expenses, public-welfare-related projects, and to pay for prizes.
'People would like to try their luck,' said Bob Chen, director at Shenzhen-based venture capital firm Mangrove Capital. 'But another reason might be that the lottery is becoming more fun, with far more diverse ways of playing than before.'
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With the lottery industry known for seeing growth in the face of an adverse economic environment, Chen added that people see the lottery as a 'fun game', and therefore lottery stands 'are always among the most popular attractions in shopping malls'.
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