Revealing the Underground

Author: Zeng Weimin
Publisher:
Publish Date: 2004-10-01
Features:
Fragment: In the early 1990s, the prize-winning sales method was introduced, gradually sparking a boom in lottery sales. From August 1992 to the end of 1993, the sales of social welfare lotteries across the country rose to 3.3 billion yuan. In 1998, the total sales revenue from lottery issuance and sales reached as high as 11 billion yuan. Starting from 1994, China also launched the "China Sports Lottery," which also achieved remarkable success. By the end of 1999, the cumulative sales of lotteries in China had reached 50.4 billion yuan, including 40 billion yuan from social welfare lotteries and 10.4 billion yuan from sports lotteries. On September 1, 2000, the "China Style" social welfare lottery, jointly issued and drawn by the China Social Welfare Lottery Center, was launched. This "retail sales, TV draw" method follows international practices, offering advantages such as greater security, directness, and scientificity, and aligns with the global trend of instant lottery sales. This lottery had a prize return rate of 53%, a winning rate of 17%, and a top prize of 1 million yuan, with each 2-yuan lottery ticket offering 4 winning chances. The launch of this lottery marked the formal alignment of China's lottery industry with international standards. From China's practical standpoint, issuing lotteries also serves auxiliary functions such as creating more job opportunities and employment channels, boosting consumer demand, and facilitating the second distribution of social income. A recent survey from the China Welfare Lottery Center found that 95% of urban and rural residents in China are aware of or have heard of lotteries. The survey also revealed that 85.7% of urban and rural residents have the financial capacity to buy lotteries, and 63.8% have purchased them. There are 287 million lottery players in China aged 15 and above, with a market size of nearly 20 billion yuan. Therefore, the development of lotteries has broad prospects and a promising market outlook.