China lottery sales down 2.9 percent in first ten months Y15

Lottery sales in China declined 2.9 percent year on year in the first 10 months of this year to 303.13 billion yuan (US$47.45 billion), according to a statement on the Ministry of Finance website.

China’s lottery sales reached 31.23 billion yuan (US$4.88 billion) in October, a decline of 4.5 percent compared with the same period last year. Welfare lottery sales decreased by 8 percent year-on-year, to RMB16.3 billion, while sports lottery sales declined 0.3 percent to RMB14.9 billion, according to the Ministry of Finance.

In October, China’s State Council took action to reduce the amount of time required for the approval and administration of lottery sales and payouts by canceling 62 central authorization requirements and devolving responsibility to provincial finance departments. However, the relaxation only applies to existing games and not new products, which will still require central Ministry of Finance approval.

Online sales of lottery products are still suspended.