China’s lottery market witnessed a remarkable surge in 2023, with total sales reaching RMB 579.7 billion (US$81.2 billion), reflecting a substantial year-on-year increase of 36.5%. This impressive growth was primarily fueled by the sports lottery segment, which accounted for RMB 385.3 billion (US$53.9 billion) in sales, marking a robust 39.3% increase compared to the previous year.
Sales Breakdown:
Breaking down the sales figures, the Ministry of Finance reported that digital ticket sales amounted to RMB 176.8 billion (US$24.7 billion), indicating a noteworthy 13.8% increase. Sales of “competitive guessing lotteries” reached RMB 246.5 billion (US$34.5 billion), experiencing a substantial growth of 36.2%. Instant lottery tickets saw an impressive surge, reaching RMB 119.0 billion (US$16.6 billion) and registering a staggering 100.2% increase. Keno tickets also contributed to the overall growth, amounting to RMB 37.4 billion (US$5.22 billion), reflecting a substantial 29.6% rise.
Market Share by Type:
In terms of market share, digital lottery sales accounted for 30.5%, “competitive guessing lotteries” claimed 42.5%, instant lottery tickets comprised 20.5%, and Keno held a 6.5% share of the overall lottery sales.
Monthly Performance:
Despite the overall annual success, December saw a temporary slowdown in lottery sales, with a 13.8% year-on-year decline to RMB 53.3 billion (US$7.45 billion). Welfare lottery sales, however, defied this trend, surging by 47.7% to reach RMB 5.65 billion (US$790 million), while sports lottery sales experienced a notable 28.4% dip to RMB 35.8 billion (US$5.0 billion).
Reasons for December Dip:
The Ministry of Finance attributed the December decline in sports lottery betting to a higher base in the same period in 2022, influenced by the 2022 Football World Cup. This insight sheds light on the seasonal fluctuations in lottery sales and underscores the impact of major sporting events on consumer behavior.
Regional Dynamics:
Analyzing the data by region, lottery sales exhibited positive growth across all provinces. Notable increases were observed in Guangdong, Jiangsu, Zhejiang, and Shandong provinces, signaling regional variations in consumer engagement with the lottery market.
Ministry of Finance’s Recommendations:
Acknowledging the fluctuations and challenges in the market, the Ministry of Finance emphasized the importance of lottery organizations at all levels closely monitoring and analyzing new conditions and problems. The ministry underscored the need to strengthen the issuance and sales of lottery tickets to ensure the smooth operation of the market.
The robust performance of China’s lottery market in 2023 reflects the resilience and adaptability of the industry. Despite the temporary setback in December, the overall positive trajectory, coupled with the Ministry of Finance’s recommendations, positions the market for continued growth and success in the coming years. As digital and competitive guessing lotteries continue to gain traction, and with regional dynamics influencing consumer preferences, the landscape of China’s lottery market is poised for further evolution.