China’s Welfare and Sports lottery ticket sales yield nearly ¥30bn in October

China’s Welfare and Sports lottery ticket sales yield nearly ¥30bn in October
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China’s Welfare and Sports lottery ticket sales totalled ¥29.72bn ($4.27bn) in October, up 1.1% year-on-year.

Data from the Ministry of Finance revealed sales of lottery tickets to support the sports industry played the most significant role in this rise, increasing by 11.4% YoY to ¥18.73bn ($2.69bn), “mainly due to the increase in quiz events”.

Conversely, sales of lottery tickets to support the welfare system came in at ¥10.99bn ($1.58bn) in October, down 12.7% YoY. This decline was largely attributed “to the one-time factor of the same period of the previous year, which raised the base due to the one-time factor of instant ticket distribution”.

October’s figures are also a decrease on the previous month, September, when China’s Welfare and Sports lottery ticket sales totalled ¥33.33bn ($4.64bn).

Across the first ten months of 2022, China’s lottery ticket sales reached ¥310.96bn, up 1% compared with the same period last year.

The first half of the year proved particularly fruitful as sales added up to ¥182.06bn ($26.91bn), an increase of 2% on the first half of 2021.

Under China’s lottery management rules, funds raised from ticket sales are used for administrative expenses, public welfare projects and prize winnings.