Hanoi Lottery, or Vietlott, is one of Vietnam’s most beloved games and generates millions in annual revenues that help fund social causes and infrastructure development projects. Unfortunately, Vietlott can also be an addictive form of gambling that leads to financial distress for players; illegal gambling operators have even emerged to lure away players away from its official format.
People in Vietnam believe strongly in the game’s power to bring good luck and fortune, so many gamblers spend considerable sums to test their luck at lottery tables. As a result, lottery companies in Vietnam have seen ticket sales skyrocket significantly – surpassing VND35 trillion for ticket sales in Q1 2017 alone, representing an enormous leap over last year.
Even though gambling remains a controversial issue, the government is beginning to relax its longstanding ban against it. This change comes in response to gambling’s increasing popularity and economic effects; additionally, this strategy seeks to increase revenues to support social causes and better education standards. Currently there are 20 provincial lottery companies operating throughout India, producing revenues exceeding $1.3 billion this year alone – an impressive threefold jump since 2007. Given that average annual income per person in this country averages $2100 annually.
Though Vietnam does not currently permit casinos to be established within its borders, its government has begun to relax anti-gambling laws and allow lottery companies to sell tickets online – leading to significant profits gains for participating firms and ushering in an expansion in this sector. More lottery websites may soon emerge to further fuel industry growth.
As Vietnam’s economy continues to develop, more people are participating in lottery, making Vietnam one of Asia’s largest markets for lottery participation. Recently, its government opened up to new lottery companies and encouraged foreign investments – in turn making the market more competitive and profitable for both local players as well as international ones.
Lottery sellers can be found throughout Vietnam’s streets selling lottery tickets at a nominal fee – often times they cannot work due to disability or age, making lottery selling their only means of earning something tangible.
Ly Van Phuong does not mind spending his nights selling lottery tickets on the street. The disabled man is committed to supporting his family with this nocturnal endeavor, covering an approximate 10-kilometer distance regardless of weather and setting his goal of reaching it. Unfortunately, his fellow sellers have had to abandon selling tickets due to unsold stock.