A lottery is a numbered security sold at face value, where holders of winning numbers may claim prizes according to regulations after the draw. It operates as an entertainment game characterized by fair competition and equal opportunity. The state issues lotteries to raise public funds for social welfare and sports development, endowing them with unique social value in redistributing idle capital and mitigating social conflicts.
However, lotteries inherently represent a legalized form of gambling, sharing the risk-reward characteristics of gambling activities. Consequently, lottery purchasing preferences are regarded as a manifestation of gambling propensity. This enables analysis of regional lottery sales to investigate:
- Gambling Culture and Corporate Innovation. Gambling preferences strongly determine corporate innovation behaviors, as investors' and managers' risk-seeking tendencies appear to influence firms' innovation strategies and value creation from industry growth opportunities.
- Gambling Culture and Stock Markets. China's stock market often reflects investor gambling preferences. Using per capita welfare and sports lottery sales to quantify regional gambling culture helps identify its impact on local stock market participation.
China currently operates two major lottery systems: China Welfare Lottery and China Sports Lottery, categorized by game type into Lotto/Digital, Zhongfu Online, Instant Win, Video, Keno, and Sports Betting.
CnOpenData systematically organizes lottery sales data across national, categorical, and regional dimensions, providing high-quality resources for related research.
Time Range
National Lottery Sales: 2008.01-2024.6
Categorical Lottery Sales: 2009.04-2024.6 (February 2020 data undisclosed)
Regional Lottery Sales: 2008.01-2024.6 (February 2020 data undisclosed)
Field Display
Sample Data
National Lottery Sales
Categorical Lottery Sales
Regional Lottery Sales
Relevant Literature
- Ji, Q., Quan, X., Yin, H., & Yuan, Q. (2021). Gambling preferences and stock price crash risk: Evidence from China. Journal of Banking & Finance, 128, 106158.
- Chen, Y., Podolski, E. J., Rhee, S. G., & Veeraraghavan, M. (2014). Local gambling preferences and corporate innovative success. Journal of Financial and Quantitative Analysis, 49(1), 77-106.
- Blau, B. M., Bowles, T. B., & Whitby, R. J. (2016). Gambling preferences, options markets, and volatility. Journal of Financial and Quantitative Analysis, 51(2), 515-540.
- Adhikari, B. K., & Agrawal, A. (2016). Religion, gambling attitudes and corporate innovation. Journal of Corporate Finance, 37, 229-248.
Update Frequency
Annual Updates