"We should still dream. Maybe the dream will come true," reads a bold billboard in Chongqing, China.
Outside the lottery store, the waiting area is designed like a coffee shop, making many people mistake it for a place to eat and play.
A cafe called "Lotto Coffee" in Kunming, Southwest China's Shandong Province, also promises to give away a free lottery ticket for every purchase. The slogan "A Cup of Lucky Coffee" is printed on the wall in large print, attracting many customers.
More and more young people in China are buying lottery tickets to pray for good luck. Illustration photo: jingdaily
The economic downturn has driven many people to gamble, with lottery revenue rising to a record 580 billion yuan ($80.6 billion) in 2023. About four-fifths of customers are aged 18 to 34, according to domestic market research firm Mob Data, as youth unemployment spikes in 2023. Now graduates are entering a slowing job market and facing fiercer competition.
Dominic Chiu, senior analyst at Eurasia Group, said people are turning to things like lotteries to try their luck as the economic environment and job market become increasingly tense.
Before the Covid-19 pandemic, lottery buyers were mainly low-income groups. But now, buyers tend to be younger, mostly educated people living in cities.
A customer looks at a screen displaying lottery information at a lottery ticket shop in Shanghai, Photo illustration: REUTERS
Wu Zehao, 18, a student at the Communication University of China in Beijing, said he has been spending 30 yuan (US$4.60) a day on lottery tickets since winning 100 yuan during a recent holiday. "You are more likely to get rich from the lottery than from working," Wu said.
Today, lottery shops are innovating to attract young people. A lottery cafe in Yichang, central Hubei province, has a sign that reads “Americano Comes True.” In Chinese, the phrase sounds like “Good things will come true.”
Guo Tong, in Beijing, also spends 100 yuan each time he buys lottery tickets. "This is the only thing I can afford and can also make me rich instantly, without any effort," Guo said.
Lottery ticket sales hit 50 billion yuan in April — the highest in a decade — thanks in part to the popularity of lottery products favored by younger players, according to China’s Ministry of Finance . Total revenue for the first four months of 2023 exceeded 175 billion yuan, up 49% from the same period last year.
Gambling is illegal in the country, but state-run sports and welfare lotteries have made great strides since their establishment in 1980. They generate hundreds of billions of yuan in revenue each year, some of which is used for charity and government projects.
Minh Phuong (According to Bloomberg )
Source
Comment (0)