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Chinese lottery revenues soar in first quarter

The Chinese news agency Xinghua illustrated the power of China's gambling market this week by reporting on the first quarter revenues for lotteries, which soared 24.5% between January and March 2010. Releasing the numbers, the Chinese Ministry of Finance revealed that the lotteries earned 34.62 billion yuan (US$ 5.07 billion).

Sales of the Welfare Lottery in the first quarter totaled 20.2 billion yuan (US$ 2.96 billion) while Sports Lottery sales amounted to 14.42 billion yuan (US$ 2.11 billion), both representing an increase of 24.5%, according to ministry statistics.

In March alone, lottery sales across the country rose 15.7% year on year to 13.25 billion yuan (US$ 1.94 billion).

Source: InfoPowa News

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