China’s lottery sales amounted to RMB225.2 billion ($31.5 billion) from January to May 2023, representing a year-on-year increase of 50 percent.
According to data released by the Ministry of Finance, welfare lottery sales amounted to RMB71.8 billion ($10 billion), representing a year-on-year increase of 16.2 percent. Sports lottery sales amounted to RMB153.4 billion ($21.5 billion), a significant increase of 73.7 percent.
Nationwide lottery sales jumped 62 percent on the year to RMB50.2 billion ($7 billion) in May, up 52.7 percent on the year. The lottery sales in May didn’t exceed April, as April’s sales reached the highest in a decade, with RMB50.3 billion ($7.03 billion). However, it still showed strong momentum, with economists saying young people in particular were keener to try their luck amid greater economic uncertainty in the wake of the pandemic.
In May, China’s Welfare Lottery sales were up 24.7 percent to RMB17.3 billion ($2.42 billion), and Sports Lottery sales were up 71.4 percent to RMB22.6 billion ($4.7 billion).
The Ministry of Finance notes that the increase was driven by the low sales base of the lottery last year and sports events.