In recent times, a craze for scratch-off lottery tickets has swept through the young people in mainland China, leading to shortages of lottery tickets in many regions. Analysts suggest that this trend is a microcosm of the downgrading of consumption and serves as one of the indicators of the cooling economy.
On social media platforms in mainland China, scratching lottery tickets has become a hot topic of discussion. Many young people share videos or photos of themselves buying large quantities of scratch-off tickets and scratching them on the spot. Lately, discussions among these lottery ticket buyers have shifted towards areas where lottery tickets have sold out.
According to reports from Observer Net, shortages of instant lottery tickets have been observed in Beijing, Jiangsu, Zhejiang, and other areas.
Internet users have mentioned that even in Guangdong, a major province for scratch-off lotteries, tickets have become hard to come by.
The owner of a lottery shop in Shaoxing, Zhejiang, mentioned that scratch-off tickets sell better than computer-generated tickets. They only receive a limited quantity of tickets from the Welfare Lottery Center, and that limit has been reached.
An employee at a lottery shop in Suzhou, Jiangsu, stated that during peak times, tickets are “hard to come by,” and the shop sells around 18,000 RMB worth of tickets daily.
The China Welfare Lottery Issuance and Management Center stated that there is a strong demand for instant lottery tickets in the market recently, leading to shortages that may take some time to alleviate.
Why are more and more young people in mainland China gravitating towards scratch-off lotteries? Self-media personality, “Ren Yumu Fei Yao Shuo,” analyzed that this trend is a reflection of the downgrading of consumption. Firstly, since young people cannot afford houses, cars, or even raising children, they opt for immediate consumption choices, with scratch-off lotteries being a low-cost option that might bring in substantial profits, although not everyone will be lucky enough to win.
Secondly, considering the current poor economic situation where nearly 99.9% of the population feels exhausted and stressed, with businesses closing down and job opportunities shrinking, earning money has become increasingly challenging. Scratch-off lotteries are seen as a potentially quick solution to financial struggles, with relatively low costs, hence attracting many young people to try their luck.
He suggests that the surge in popularity and shortages of scratch-off lotteries can be viewed as a reverse indicator of the economic climate. The more individuals lose hope for the future, the more will turn to buying lottery tickets. Engaging in scratch-off lotteries is a way for individuals to seek economic stimulation or perhaps find some solace amidst the hardships of life, offering a glimmer of hope.
Data from the Ministry of Finance of the Communist Party of China shows that in the first quarter of this year, the national lottery sales reached 149.4 billion RMB, a nearly 20% year-on-year increase. Among these figures, sales of instant lottery tickets surged by over 80% compared to the same period last year, reaching nearly 39 billion RMB.
Analysts reported by mainland media believe that the increasingly competitive social landscape due to economic structural adjustments and declining profit margins in traditional industries has intensified pressure on society. Many individuals hope to improve their quality of life by purchasing lottery tickets, and the popularity of instant lottery tickets may reflect the growing demand for instant satisfaction and excitement in society.
Previously, Dominic Chiu, a senior analyst at the information company Eurasia Group, mentioned that Chinese young people turning to lotteries and similar methods to seek wealth and success could be attributed to the mounting pressures of the economic environment and job market.