"Unable to Find Jobs... Lotto Life Turnaround Craze Among Chinese Youth"

Lottery Sales Increase Toward Second Half of Year
'Lottery 인증 Shot' Trend on SNS as Well

This year, lottery sales in China surged by 53% compared to last year. Analysts suggest that the increase in lottery sales is related to the economic downturn in China.

It is because the gambling mentality, where ordinary people seek a 'one-shot' life turnaround as an escape from the harshness of recession-hit lives, is spreading.

Even taxis have introduced 'mini lottery vending machines'... Lottery sales up 53% compared to the same period last year

Chinese youths checking instant lottery winnings.
[Photo by Gye-myeon Newspaper]

On the 30th, local media such as China News Network cited data released by the Chinese Ministry of Finance, reporting that the cumulative lottery sales from January to October reached 475.876 billion yuan (approximately 86.02 trillion KRW). This figure represents a 53% increase compared to the same period last year.

During this period, the average lottery purchase amount per person in China was about 340 yuan (approximately 61,000 KRW).

Lottery sales in China showed a trend of increasing further as the year progressed into the second half.

The monthly sales amount, which was 33.2 billion yuan (about 6 trillion KRW) in January this year, exceeded 40 billion yuan (about 7.2 trillion KRW) and 50 billion yuan (about 9 trillion KRW) in February and April respectively, and increased to 52.8 billion yuan (about 9.5 trillion KRW) in September.

As lottery sales increased, the number of sales companies also rose accordingly, with newly registered companies up 38% compared to last year through October this year.

In downtown shopping districts and tourist spots, not only lottery vendors but also 'lottery vending machines' have been appearing one after another, and 'taxis equipped with mini lottery vending machines' have also emerged.

Buying lottery tickets aiming for 'life turnaround' amid economic downturn... "Demand increasing among young people"

Lottery vending machine installed inside a taxi.
[Photo by Gyemyeon Newspaper]

In June, youth unemployment hit a record high of 21.3%, and amid severe job-seeking difficulties, lottery purchases aiming for a lucky break have particularly increased among young people such as the 'Tangping tribe (??平族)' who do nothing and the 'full-time children' who depend on their parents.

A lottery shop owner explained, "Recently, a significant portion of lottery buyers are young people. Some buy for fun, but many young people regularly purchase tickets with the thought that investing tens of yuan in lottery tickets could make them instant millionaires if they are lucky."

Also, among young people, it has become a trend to exchange lottery tickets on anniversaries and post 'lottery certification shots' on social media (SNS).

Chinese private think tank Anbang (安邦) pointed out in a report last June that "the remarkable increase in lottery sales shows that China's economic recovery is still distant and difficult."

Meanwhile, representative 'recession-type products' that sell well when the economy is bad include lotteries and red lipstick. Lottery sales are strong due to the strong psychology of sudden wealth, and red lipstick sales increase because it can maximize makeup effects alone, reflecting consumer psychology that tries to spend as little as possible while maintaining minimal dignity.