Playing China’s lottery

    Published in: Latest Intelligence An $88.5 million lottery prize, the second biggest in the country’s history, went unclaimed for more than a month two years ago before a 40-year-old man from Zhejiang province presented a winning ticket.His equanimity is not typical. Chinese lottery sales have grown an average 33 percent a year since they started in 1987, reaching $42 billion last year and amounting to the second most in the world, behind only the US. Yet per capita lottery sales in China amounted to just $24 in 2011, a pittance compared to the $195 average US spend and $239 worth of tickets sold in Canada. That even though China, with 300,000 points of sale for its two lotteries, has 25 percent more outlets than the US, according to Dr Su Guojing, president of research institute China Lottery Industry Salon in Beijing. Yet the low spend and broad network position the lotteries...

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