Hanoi Lotto is an increasingly popular lottery game in Vietnam, played by guessing a set of numbers and, if all are correct, receiving the jackpot prize. It has long been one of the country’s favorite pastimes; ticket price starts from VND10,000 (US cents), with sellers making 10% profit off every ticket sold.
As well as serving as an income generator, lottery play also plays a vital role in social and cultural life. Many use it to relieve their stress and anxiety during difficult times while at the same time using tickets as historical relics for tracing changes in design aesthetics and lifestyle trends over time.
Foreign investors have joined Vietnam’s lottery industry. Malaysia-based Berjaya Corp Bhd (BCorp) and Vietnamese partner Vietlott have recently received a license to operate computerized lotteries within Vietnam, through an agreement on business cooperation that covers investments in technology, equipment software and lottery services as well as the transfer of management rights to local operatorss.
Lottery businesses in the South of Vietnam have experienced sustained high growth this year despite social-economic instability, according to Do Quang Vinh, general director of Ho Chi Minh City lottery company and chairman of the Southern Lottery Council. According to Vinh, these firms contributed over VND12 trillion ($513 million) in taxes and spent over VND30 billion ($1.2 million) on social welfare initiatives.
Indeed, high sales could be explained by cultural habits of the region. In Saigon alone, between 4,000-6,000 lottery vendors roam the streets looking for buyers in search of income – most often drawn from poorest segments such as children, women, elderly and those living with disabilities; competing against young professionals who have lost their professional jobs due to economic downturn.
While many lottery players remain wary of betting with large sums of money, some dare to place bets worth several million dong on just one number believing it can transform their lives. They make these bets based on personal experiences, family relations and even dreams they may have had the night before.
As part of their eligibility requirements, lottery participants must be of legal age in order to participate in the game. If for objective reasons they cannot collect their prize personally, they can authorize an authorized representative or lawful heir as the recipient. When winning in foreign currency, prize recipients must convert it back into local currency according to rules made public by lottery business enterprises and follow all money laundering and terrorist financing prevention regulations – otherwise legal action will follow accordingly.