Hanoi lotto has quickly become one of Vietnam’s most beloved gambling games, beloved by both residents and visitors alike. It has had both social and economic benefits for Vietnam; drawing together hundreds of thousands who all believe in its power to bring luck. Millions in revenue generated are used for social welfare and infrastructure development while its success has created jobs for retailers and operators.
Lotterie companies in the southern region achieved an unprecedented sales rate of 98% of tickets available this first quarter compared to only 60-70% last year, marking a substantial improvement compared with consumption rates that averaged around 60% last year. Yet the lottery industry is still facing challenges; total revenues at Southern Lottery Council remain constant while after-tax profits declined 19 percent; this pattern was repeated across traditional lottery companies in Dong Nai, Long An, Ho Chi Minh City and Ben Tre provinces.
Foreign investors have significantly altered the industry. Malaysian company Berjaya Gia Thinh recently entered Vietnam’s computerized lottery market alongside Vietnamese Vietlott. Both parties signed a business cooperation agreement to distribute and sell Mega 6/45 lottery tickets across Vietnam.
Vietlott sells tickets through wholesalers who in turn deliver them to stores throughout Vietnam, where dealers then add a small markup on top of the tickets to cover transportation and storage costs, before selling them at 10,000 dong each for a profit margin of about 10%.
No matter their low pay, lottery sellers remain dedicated to their trade. Ly Van Phuong does not mind getting up at 3 am every morning to sell lottery tickets until 9 pm; covering 10 kilometers every day regardless of weather, knowing his tickets could make an impactful difference to someone’s life.
To better the lives of lottery vendors, the government should implement certain steps. These measures may include permitting lottery companies to purchase back unsold tickets from vendors at reduced costs, increasing commission rates for them and providing health insurance policies for them. These measures may assist these people in overcoming any difficulties they are encountering in daily life, particularly as we enter Lenten season. Furthermore, they should find suitable housing arrangements and earn stable income streams. It will enable them to lead an improved life, spend more time with their families and feel safe and secure – giving them more time and energy to spend educating their children and supporting the needy in their communities. In time, they may achieve all their goals and dreams.