From 4D to Toto: Study finds seniors spend about $2,300 annually on lotteries
Seniors in Singapore spend an average of $2,278 annually on lottery tickets, one study has found, with about half of those surveyed reporting net winnings in the past year.
These findings were based on a paper titled «Consumption Responses to Income Shocks through Lottery Winning: Evidence from Older Adults in Singapore» published in 2024 by Koh Kanghyock and Kim Seonghoon, reported Lianhe Zaobao.
The latter is an Associate Professor of Economics at Singapore Management University, as well as the Deputy Director at the Centre for Research on Successful Ageing (ROSA), according to the university's website, while Kang is an Associate Professor at the Department of Economics at Korea University.
Based on data from 58.9 per cent of those surveyed, the average lottery expenditure in the last 12 months was $2,278.
About 51 per cent of them reported that they had won a net positive amount in the last 12 months, with the average prize money at $1,090.
This survey involved 6,212 individuals aged between 50 and 70.