China’s lottery sales near 30 bln yuan in October

BEIJING — China’s lottery ticket sales totaled 29.39 billion yuan (about 4.6 billion U.S. dollars) in October, down 4.3 percent year on year, data from the Ministry of Finance showed Tuesday.

Sales of lottery tickets to support China’s welfare system totaled 12.58 billion yuan in October, while sales of lottery tickets to support the country’s sports industry reached 16.8 billion yuan, according to the ministry.

In the first 10 months, total lottery sales amounted to 307.9 billion yuan, up 17.8 percent year on year.

Under China’s lottery management rules, funds raised from ticket sales are used for administrative expenses, public welfare projects and prize winnings.