Hanoi lotto has become an integral part of Vietnamese culture and generates millions of dollars for social causes and infrastructure development while creating employment for thousands of people. But it’s important to keep in mind that this game does have a dark side which should be avoided at all costs.
Lotteries companies often charge high commission rates for their services and do not legally oblige sellers to buy back unsold tickets – leaving lottery sellers vulnerable and often forced into small rooms with their families. A typical lottery seller in Ho Chi Minh City earns VND1,100 per ticket sold; unfortunately this amount doesn’t cover food and rent costs.
Hanoi lotto sellers can often be seen at coffee shops and eateries, rummaging through stacks of pre-printed tickets to find those containing numbers that could hit. Each province offers its own set of tickets; ask a peddler and they will show you some samples; from these you can select which province would like tickets from; in fact a portion of each ticket sold goes back into that province!
Though lottery ticket sales have decreased substantially since 2021 due to factors like rising inflation and taxes, most traditional lottery companies still meet their targeted revenues while after-tax profits of some have significantly diminished.
Last year, lottery businesses in the southern region made an extraordinary contribution to the state budget; accounting for more than 30 percent and providing over 1.2 million jobs according to a representative of Vietnam Lottery Company. Furthermore, lottery businesses provided social welfare projects for disabled and elderly people within this industry.
Southern lottery businesses have experienced sustained high growth despite socio-economic uncertainty this year, according to a representative of Vietnam Lottery Council. One factor contributing to their high sale rates may also be culture; purchasing lottery tickets at cafes and restaurants has become part of cultural tradition.
But, lottery businesses in the South are facing difficulties as competition for their products increases and they fail to invest in modern technologies. Furthermore, inflation and taxes have made consumers reluctant to spend money on lottery tickets.
Vietlott plans to invest VND3 trillion in a new production line to produce tickets featuring larger screens capable of showing more winning numbers, and build 800 points of sale nationwide within five years. Furthermore, Vietlott has collaborated with foreign firms such as Malaysia’s Berjaya Corp Bhd and Thailand’s BToto to conduct computerized lotteries within Vietnam.