Lottery Sales Hit Another Record as More People Seek Windfall Gains

  • By Lee Ki-hun

    April 14, 2021 10:41

    Sales of lottery tickets in Korea surpassed W4 trillion last year (US$1=W1,125).

    The Ministry of Economy and Finance said Tuesday some W4.71 trillion worth of lottery tickets were sold last year, up 9.3 percent on-year and setting a new record, as has been the case every year since 2008.

    According to a survey conducted by the ministry last year, 55.4 percent of adults said they had purchased a lottery ticket over the preceding year. Some 23.7 percent said they purchase lottery tickets every month, followed by 21.8 percent who buy them weekly and 15.9 percent every two weeks.

    By age, they were mostly in their 30s and 40s. Some 69.9 percent of respondents in their 30s said they had bought lottery tickets at least once, followed by 64.3 percent of 40-somethings.

    By gender, men tend to buy lottery tickets more than women with 65.8 percent of men and 45.3 percent of women admitting that they dreamed of instant wealth.

    Sales of lottery tickets tend to rise when the economy is slow, as more people turn to the possibility of a windfall gain.

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