China’s Welfare and Sports Lotteries sales have yielded ¥29.39bn in October, a drop of 4.3% year-on-year, data from the Ministry of Finance has revealed.
The data also showed a drop of 5.8% from the previous month, with August’s figures revealing sales of ¥31.2bn. It also continues China’s month-by-month slump in sales since reaching a peak in July.
Sales of lottery tickets to support China’s welfare system totalled ¥12.58bn in September, while ticket sales to support the country’s sports industry reached ¥16.8bn, according to the ministry.
Lottery sales to support the welfare system increased by 6.25%% from July’s figures.
However, it is the sports lotteries which disappointed, with a 13.4% drop off in sales in just one month.
The Ministry of Finance has confirmed that, in the first 10 months of 2021, total lottery sales amounted to ¥307.9bn, up 17.8% year-on-year.
Under China’s lottery management rules, funds raised from ticket sales are used for administrative expenses, public welfare projects and prize winnings.