High-income earners buy more lottery tickets... 40% have a monthly income over 4.66 million won

39% Are Households in the 4th Income Quartile... Monthly Income 4.66M~6.73M Won

[Asia Economy Sejong=Reporter Lee Jun-hyung] It was found that 4 out of 10 lottery buyers were relatively high-income earners with a monthly salary exceeding 4.66 million KRW. The proportion of 'white-collar' workers purchasing lottery tickets was also higher compared to other occupational groups.

The Ministry of Economy and Finance's Lottery Committee announced the results of the "2022 Lottery Awareness Survey" on the 11th. The survey was conducted by the Ministry from October to November last year, targeting 1,020 citizens aged 19 and older. The government conducts annual surveys on lottery awareness and purchasing behavior to establish lottery policies.

Notably, the proportion of relatively high-income earners among lottery buyers was high. Among all lottery buyers, those in the 4th income quartile with a household income of 4.66 to 6.73 million KRW accounted for 39%. The 3rd quartile (3.17 to 4.65 million KRW) followed at 26.5%. Next were the 2nd quartile (1.89 to 3.16 million KRW) and the 5th quartile (above 6.74 million KRW). The 1st quartile, with a monthly salary below 1.18 million KRW, was the lowest at 3.3%.

Looking at occupations alone, white-collar workers accounted for the highest proportion at 32.1%. This is more than 10 percentage points higher than the second-ranked self-employed group (20.2%). They were followed by full-time homemakers (18.9%), blue-collar workers (17.9%), and unemployed/retired individuals (5%). By age group, those aged 60 and above had the highest proportion at 27.4%, while those in their 20s had the lowest at 12.8%.

Last year, the number of lottery buyers was estimated at about 24 million. This figure was derived by applying the 56.5% response rate of those aged 20 and above (approximately 43 million people) who reported purchasing a lottery ticket within the past year as of last month. The lottery purchase rate declined by 6.3 percentage points from 62.8% in 2021 to 56.5% last year.

Perceptions of the lottery have steadily improved. Among the 1,020 survey respondents, 74% answered that "it is good to have the lottery." This is a 0.3 percentage point increase from 73.7% in 2021. Compared to 62.5% ten years ago in 2012, it has risen by more than 10 percentage points. The reasons cited for liking the lottery included "because it allows for expectations or hope (40.5%)" and "because it is used for good causes and public interest projects (32.7%)."

Supported by this positive perception, lottery sales last year amounted to 6.4292 trillion KRW, an increase of 7.6% (453.9 billion KRW) compared to the previous year. Of last year's lottery sales, 2.6072 trillion KRW was allocated to the lottery fund and used for welfare of vulnerable groups. A Ministry of Economy and Finance official stated, "Based on these survey results, we will strengthen the sound management of the lottery," adding, "Lottery revenues will be intensively allocated to projects that enhance the happiness of socially disadvantaged groups."

This content was produced with the assistance of AI translation services.