Hanoi Lotto is a widely played gambling game in Vietnam that raises funds for social causes and infrastructure development. Known for its longstanding tradition and increased employment opportunities, the Hanoi Lotto has become part of Vietnamese culture while also creating many jobs. Unfortunately, some may become addicted and suffer financial strain from playing; there may even be illegal operators competing with Hanoi Lotto, pulling players away and diminishing government revenue.
Vietnam’s lottery companies have seen record earnings of VND3.8 trillion per year over the last several years – more than double what they earned in 2016. Lottery players continue spending more money every year and the number of people playing lottery has also doubled significantly over this timeframe.
Vietlott, Vietnam’s biggest lottery company, generates the highest ticket sales revenues. They sell tickets directly to wholesalers who distribute them further down to stores in each Vietnamese city – these distributors cover over 12,000 outlets nationwide! In addition to selling lottery tickets they also provide betting terminals and support services for lottery players.
On top of big lottery companies, there are also local sellers who purchase bulk lottery tickets in bulk from lottery companies and sell them at lower prices to the public. They typically operate out of small shops or market streets but often find difficulty in reaching customers due to limited advertising budgets and poor business management skills.
Huong can sell 250 lottery tickets each day and make a daily profit of 230 000 VN-Dong (US Dollars). She works alongside her husband during 16 hour shifts; their daily breakfast consists of rice and vegetable soup before heading out onto the street to sell their tickets.
Lottery is a widely played form of entertainment in Vietnam, where few earn an income through conventional employment. Since Vietnam does not provide welfare support to its unemployed citizens, many poor people turn to selling lottery tickets as their sole source of income; preferring it over the stigmatizing practice of beggaring.
Government actions to regulate the lottery industry have taken steps to avoid overcharging and misleading customers; however, challenges remain for operators businesses due to high lockup period costs and low after-tax profits. Future efforts from the government will concentrate on streamlining lottery operations and alleviating sellers’ burden, while expanding distribution points to reach more citizens. The industry is also seeking foreign investment to enhance performance and create new products, as well as to woo new players to its platform. Lotteries are expected to experience steady growth over the coming years; by 2022 it is projected to generate revenues totalling VND3.5 trillion and double in player count by 2020.