Friday, May 3, 2024

Thais spend Bt250 billion annually on lottery and lotto

At least twice a month –- on the first and sixteenth days – millions of Thais hope and pray that their fortune will change.

They are glued to their TV set or mobile phones, anxiously waiting for lottery results praying for a miracle.

Thais are increasingly addicted to lottery. The National Statistical Office of Thailand reveals that 47 percent of Thai families played lottery and lotto in 2017, up from 11 percent in 2009.

Every fortnight, lottery addicts try to look for luck by scratching tree trunks or browsing the internet for any clue. It is no surprise that “lottery tips” is one of the most googled words by Thais.

In 2017, each Thai family spent Bt4,660 per year to buy lottery and lotto, increasing from Bt3,407 in 2009, according to the National Statistical Office.

Siam Commercial Bank’s Economic Intelligence Center (SCB EIC) also finds that low-income earning families increase their spending on lottery and lotto at the rate exceeding the pace of their pay rise.

People with income lower than Bt15,000 per month spend around Bt350 or 2.2 percent of their income on lottery….

Read the complete story on Thailand Business News

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