Korea s Lottery Could Increase Revenue Despite The Pandemic
As it has been informed in the news about the lottery market in Korea, the revenue from lottery tickets sales has significantly increased during the first part of 2020 despite the COVID-19 pandemic.
Although the coronavirus pandemic damaged almost all sectors of the gambling industry in the majority of countries, some of them could even gain unexpectedly big figures of revenue. For example, the lottery market in South Korea has grown by two billion dollars at the beginning of this year. It is the highest record for fifteen years.
The national lottery generated the biggest part of the revenue
According to the latest reports from the Ministry of Economy and Finance, Lotto, the country’s national lottery, has generated 2.31 trillion won, and this income is the biggest in comparison to other similar products.
Other lottery types that have also succeeded during the pandemic are pension-type, electronic, and print lotteries. The revenue of pension-type lotteries is estimated at 85.5 billion won (and has increased by almost sixty-nine percent), while electronic – 40.8 billion won, printed – 186.3 billion won. The success of the pension lottery is mostly connected with changing the prize sum to seven million from five million. This reward has begun to attract more players who dream about the jackpot.
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