Core Viewpoint - China's lottery sales reached a historical high in the first half of 2025, with total sales of 317.85 billion yuan, reflecting a year-on-year growth of 3% [1][2]. Group 1: Lottery Sales Overview - In the first half of 2025, the total lottery sales in China amounted to 317.85 billion yuan, marking a historical record [1]. - The growth rate of lottery sales has gradually slowed down, with a significant increase of 36.5% in 2023, followed by a decrease to 7.6% in 2024, and further down to 3% in the first half of 2025 [1]. - The lottery sales revenue has consistently increased since 2021, recovering from a dip below 400 billion yuan in 2020 due to regulatory changes and the pandemic [1]. Group 2: Distribution of Lottery Sales - The China Welfare Lottery Management Center and the Sports Lottery Management Center are the two main institutions responsible for lottery issuance [2]. - In the first half of 2025, the Welfare Lottery generated sales of 107.11 billion yuan (up 2.0%), while the Sports Lottery sales reached 210.74 billion yuan (up 3.6%) [2]. - Among different types of lottery sales, the sales of betting-type and instant lottery tickets showed growth, while the sales of lottery number games and Keno tickets experienced slight declines [2]. Group 3: Purpose of Lottery Funds - The primary purpose of issuing lotteries is to raise funds for social welfare and sports, with a portion of the sales revenue allocated to public welfare funds [3]. - The distribution of lottery public welfare funds is managed according to government regulations, with 50% allocated to central and local governments for social welfare and sports initiatives [3]. - Recent disclosures indicate that in 2024, Beijing's lottery sales reached 17.515 billion yuan, with 2.905 billion yuan retained for local public welfare funds and 2.221 billion yuan allocated for distribution [3].

Core Insights - The total lottery sales in China for the first half of this year reached 317.85 billion yuan, marking a year-on-year growth of 3% and setting a historical record for lottery sales in the first half of the year [1][2] - The growth rate of lottery sales has been gradually slowing down in recent years, with a significant drop from 36.5% in 2023 to 7.6% in 2024, and further down to 3% in the first half of this year [1] Lottery Sales Breakdown - The sales from the Welfare Lottery reached 107.11 billion yuan, showing a year-on-year increase of 2.0%, while Sports Lottery sales amounted to 210.74 billion yuan, with a growth of 3.6% [2] - Among different types of lottery sales, the sales of betting-type and instant lottery tickets increased, while the sales of lottery number games and Keno tickets experienced slight declines [2] - Betting-type lottery sales totaled 140.26 billion yuan, up by 4.7%, and instant lottery sales were 67.96 billion yuan, increasing by 6.9%. Conversely, lottery number game sales were 89.36 billion yuan, down by 0.8%, and Keno sales were 20.28 billion yuan, down by 2.8% [2] Regional Performance - Out of 31 provinces, 26 reported an increase in lottery sales compared to the same period last year, with notable increases in Shandong, Hubei, Guangdong, and Chongqing [2] - The purpose of issuing lotteries is to raise funds for social welfare and sports, with a portion of the sales revenue allocated to public welfare funds, which are distributed equally between central and local governments [2] Future Projections - Local governments, such as Beijing, have begun to disclose their lottery public welfare fund collection and distribution plans for 2024, indicating a proactive approach to managing lottery revenues [3]