Changing perceptions

Lottery revenues increased 9 percent year-on-year in South Korea in 2016 driven in part by changing player perceptions, but remain low when compared with other OECD countries, signaling room for further growth. More than half of all South Koreans purchased at least one lottery ticket last year, driving a 9.3 percent increase in sales to 3.9 trillion won (US$3bn). The rise came amidst an economic slump, which some believe is the main reason for the uptick in sales. But while consumers undoubtedly turn to lotteries and games of chance in times of economic depression, the Korean Lottery Commission (KLC) believes more tangible factors are at play, including changing perceptions and the 543 new retailers that opened during the year. The expansion of online sales is also expected to be a gamechanger. “Koreans now have a more positive attitude towards lotteries,” a spokesperson for the KLC said. “In a recent survey, we found...

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