Core Viewpoint - China's lottery sales revenue continues to grow, but the growth rate has significantly slowed down, with a 1.5% year-on-year increase in the first three quarters of 2025 compared to a 9.4% increase in the same period last year [3][4]. Sales Performance - In the first three quarters of 2025, total lottery sales reached 476.137 billion yuan, marking a historical high for the same period, but the growth rate has decreased by nearly 8 percentage points compared to last year [3]. - The sales of welfare lottery amounted to 159.75 billion yuan, while sports lottery sales reached 316.387 billion yuan, both showing a 1.5% year-on-year increase [4]. Lottery Types - The main types of lottery include digital lottery, betting lottery, instant lottery, and Keno lottery. In the first three quarters: - Betting lottery sales were 208.84 billion yuan, down 2.5% year-on-year - Digital lottery sales were 134.637 billion yuan, up 0.4% - Instant lottery sales were 101.356 billion yuan, up 14.2% - Keno lottery sales were 31.302 billion yuan, down 2.2% [5]. Regional Sales - Among the 21 provinces, lottery sales increased in 11 provinces, with Shandong, Hubei, and Henan showing significant increases of 1.89 billion yuan, 1.43 billion yuan, and 1.25 billion yuan respectively. Conversely, 10 provinces saw declines, with Jiangxi, Zhejiang, and Guizhou experiencing the largest decreases of 0.88 billion yuan, 0.79 billion yuan, and 0.61 billion yuan respectively [5]. Purpose of Lottery - 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, which are distributed equally between central and local governments for social welfare projects [6].

Core Insights - China's lottery sales reached 476.137 billion yuan in the first three quarters of this year, marking a year-on-year growth of 1.5%, but the growth rate has significantly slowed compared to 9.4% in the same period last year [1] - The slowdown in growth is attributed to high sales figures from last year due to major sporting events like the European Cup and the Olympics, which created a high base effect [1] - The lottery market in China is primarily divided between two institutions: the China Welfare Lottery and the China Sports Lottery, with the latter surpassing the former in revenue since 2018 [1] Sales Performance by Type - Among different types of lottery, the sales figures for the first three quarters are as follows: - Sports lottery sales: 208.84 billion yuan (down 2.5% year-on-year) - Lotto sales: 134.637 billion yuan (up 0.4% year-on-year) - Instant lottery sales: 101.356 billion yuan (up 14.2% year-on-year) - Keno sales: 31.302 billion yuan (down 2.2% year-on-year) [2] - Instant lottery sales, such as scratch cards, continue to show strong growth, while sports lottery sales have declined due to fewer major sporting events this year [2] Regional Sales Insights - In terms of regional performance, 21 provinces saw an increase in lottery sales compared to last year, with notable increases in Shandong (1.89 billion yuan), Hubei (1.43 billion yuan), and Henan (1.25 billion yuan) [2] - Conversely, 10 provinces experienced a decline in sales, with significant decreases in Jiangxi (0.88 billion yuan), Zhejiang (0.79 billion yuan), and Guizhou (0.61 billion yuan) [2] Purpose of Lottery Sales - The primary purpose of lottery sales in China is to raise funds for social welfare and sports, with a portion of the sales revenue allocated to the lottery public welfare fund, which is distributed equally between central and local governments for social welfare projects [2]

Core Viewpoint - The Beijing Sports Lottery Center has acknowledged issues with the timely delivery and supply of instant lottery tickets, primarily due to increased workloads and special circumstances affecting distribution [2][3]. Group 1: Supply Issues - There are reports of shortages of instant lottery tickets in Beijing, with some stores stating that "Top Scratch" tickets have not been restocked for a month, while "Scratch and Win" tickets from the welfare lottery are still available weekly [2]. - The supply of instant lottery tickets is prioritized for the Sports Lottery Experience Centers, which receive a monthly quota of 300,000 yuan, compared to traditional stores that only receive a basic guarantee of 48,000 to 60,000 yuan per month [2]. Group 2: Response Measures - The Beijing Sports Lottery Center plans to enhance supply capabilities and operational efficiency through increased ordering and delivery frequency, as well as optimizing the workflow of dedicated personnel [3]. - Regular checks will be conducted to ensure the timely and stable delivery of instant lottery tickets while managing multiple operational tasks [3]. Group 3: Market Performance - National lottery sales data for January to March 2025 indicates a total sales figure of 148.591 billion yuan, reflecting a year-on-year decrease of 0.6 million yuan [3]. - Instant lottery sales specifically amounted to 33.482 billion yuan, showing a significant decline of 14.1% year-on-year, equating to a drop of 5.493 billion yuan [3].

Core Insights - The Beijing Sports Lottery Center has acknowledged issues with the timely delivery and supply of instant lottery tickets, particularly due to increased workloads and special circumstances affecting distribution [1][2] - There is a notable shortage of instant lottery tickets in traditional lottery stores in Beijing, with reports indicating that some stores have not received supplies for over a month [1][2] - The sales of instant lottery tickets have significantly declined, with a reported 14.1% decrease in sales compared to the previous year [2] Group 1: Supply Issues - The Beijing Sports Lottery Center reported that the supply of instant lottery tickets is currently limited, with traditional stores receiving only 4.8 million to 6 million yuan worth of tickets monthly, compared to 300,000 yuan for experience centers [1][2] - A lottery expert indicated that the traditional stores are facing widespread shortages of instant lottery tickets, which are prioritized for supply to the new experience centers [1] Group 2: Sales Performance - National lottery sales data for January to March 2025 revealed a total sales figure of 148.59 billion yuan, reflecting a slight year-on-year decline of 0.6% [2] - Instant lottery ticket sales accounted for 33.48 billion yuan during the same period, showing a significant drop of 14.1% year-on-year, equating to a decrease of 5.49 billion yuan [2] Group 3: Future Measures - The Beijing Sports Lottery Center plans to enhance supply and efficiency by increasing order and delivery frequencies and optimizing the workflow of responsible personnel [2] - Regular checks on the ordering and delivery of instant lottery tickets will be implemented to ensure timely and stable supply [2]