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October 2020 Confirmed Sunset of the Chinese Lotteries

1 December 2020, 15:48
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October was a bit of a weird month for Chinese lotteries. The sector showed a Year-over-Year (YoY) increase but began to decline compared to the previous months. Login Casino follows the latest lottery news and informs readers about the most interesting changes in the sector.

October 2020 Confirmed Sunset of the Chinese Lotteries

The latest report by the Chinese officials showed that October was a transitional period for local lotteries. Thus, the YoY October's rates raised by 11.5% up to $4.6 billion, but dropped compared to September 2020 by 16%.

If to divide the sector into two basic branches, sports and welfare lotteries, the numbers are positive only for the sports segment. The latter raised by 24% up to $2.75 billion in October, while welfare lotteries decreased by 3.2% to $1.85 billion.

In the year-to-date numbers, the situation is adverse. Both branches declined more than by 20% (26.7% for welfare and 21.5% for sports) since October 2019, being adversely affected by the coronavirus-related obstacles.

What will be the upcoming future of Chinese lotteries?

From November 1, the lottery operators were forced to limit the number of offered products. The long-lasting plan is to close both kinds of lotteries as they are leading to irrational purchases by unstable punters.

China is going to the new way of spreading lottery products, where the operators have to inform clients about the changes or prize pool and things alike. Also, one of the primary aspects of the initiative is to decrease the addictive attraction of lotteries, as most of the purchases are made with irrational behavior.

Read moreThe nature of gambling addiction and how to cope with it by oneself?

Read moreWhy claiming the lottery win should be made carefully?

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