Lottery revenue to reach over 153,000 billion VND in 2023

ANTD.VN - In 2023, lottery revenue will reach 153,037 billion VND, an increase of 11% compared to 2022, of which about 50% will be used to pay prizes and 45,016 billion VND will be paid to the budget.

According to the report of the Ministry of Finance, up to now, the whole country has 64 state-owned enterprises operating in the lottery business, including 63 lottery companies in 63 provinces and cities operating in traditional lottery business and 01 Vietnam Computerized Lottery Company Limited (Vietlott) which started operating computerized lottery business since 2017 nationwide.

Regarding business activities, in 2023, lottery revenue will reach VND 153,037 billion, an increase of 11% compared to 2022, of which about 50% will be used to pay prizes. Budget contribution will be VND 45,016 billion, an increase of 10.3% compared to 2022, of which electronic lottery accounts for 3.4%.

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Lottery market still has many problems

All lottery revenue is paid into the local budget and is annually approved by the National Assembly for investment and development; priority is given to investment in the fields of education - training, vocational training and health; the remaining amount is given priority to implement works and investment projects on natural disaster prevention, climate change response, new rural areas and other important investment tasks subject to investment of the local budget.

The Ministry of Finance believes that this is an important source of revenue for localities, especially the southern provinces, to implement the province's development investment goals. In addition, lottery business activities also create jobs for the agent system and lottery ticket sellers.

Regarding management, supervision and inspection, the Ministry of Finance has regularly inspected lottery business activities directly (05-11 enterprises/year) and monitored remotely through the reporting mechanism.

On that basis, there are regular official dispatches requesting Lottery Companies to conduct business in accordance with the provisions of law. At the same time, the Ministry of Finance has resolutely directed Lottery Companies to strictly handle agents who do not allow street vendors to return tickets, and to cut agent commissions to ensure the rights of street vendors.

Although the lottery market has grown steadily, meeting people's entertainment needs, contributing to increasing budget revenue and creating jobs locally, the Ministry of Finance admits that there are still shortcomings and limitations.

In which, manual lottery products still account for a large proportion; Uneven development between regions.

In addition, recently there has been a situation where some organizations and individuals have taken advantage of civil law to do business and distribute lottery tickets via electronic applications, the internet, payment intermediaries...; some lottery agents have forced street ticket sellers not to return unsold tickets.

These limitations are mainly due to consumer tastes, regional customs and the fact that the electronic lottery has only been in operation for 7 years, so its market share is still small.

In the coming time, the Ministry of Finance will operate the market according to the principle of prudence. In particular, it will continue to perfect the legal framework for lottery business, focusing on modernizing lottery activities, enhancing transparency, and strictly handling cases of taking advantage of the law to conduct business and distribute lottery tickets in violation of the law to protect the rights of players.

The Ministry will continue to coordinate with ministries and branches to strengthen management, supervision and handling of violations in lottery business activities; strengthen prevention and combat of crimes and violations of the law related to the exploitation of lottery activities, gambling organization and gambling activities...

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