Lotteries have a long and colorful history. In the 15th century, many towns in the Low Countries held public lotteries to help the poor and build fortifications. At the time, the concept was wildly popular. People saw it as an easy way to tax the wealthy and spread prosperity throughout their communities. Today, the Netherlands still has one of the oldest continuously running lotteries in the world. The word lottery comes from a Dutch noun meaning “fate.”
The Global Lottery market is growing rapidly. New technology is changing the way businesses do business. Understanding market trends and patterns allows companies to strategize more effectively. It also gives companies a competitive edge over their competitors. The report analyzes trends and forecasts for the global and regional lottery markets. It also includes company profiles and insights.
In China, there are two major lotteries: the Welfare Lottery and the China Sports Lottery. While the Welfare Lottery is a government-run lottery, China Sports Lottery has a gaming component. Punters are able to guess the outcome of international soccer matches and levy wagers based on the results. The Chinese Sports Lottery has experienced consistent growth in recent years. In March, sales reached 40 billion yuan ($6.2 billion), an increase of 18.3% over the first quarter of 2014.
Many lottery winners choose to claim their prize as a lump sum, instead of receiving annual payments. Approximately 80 percent of lottery winners choose the lump sum option, which usually amounts to about half of the jackpot amount. The lottery also pays winners the amount they would have paid for bonds if they had purchased them with their winnings.