Complete Guide to Korean Lottery Types
A detailed comparison of every officially sold lottery in South Korea. From Lotto 6/45 to Pension Lottery 720+, Speetto, and Powerball, explore the structure, winning odds, and prize systems of each lottery at a glance.
History of Lotteries in South Korea
The first lottery in South Korea appeared in 1947 with the Olympic Lottery. Over the decades, various types of lotteries were issued, including the Housing Lottery and instant scratch tickets. In December 2002, the introduction of Lotto 6/45 -- a number-selection lottery -- brought a major transformation to the Korean lottery market. Today, the lottery business in South Korea is operated by Dong-Haeng Lottery under the Ministry of Economy and Finance. Revenue from lottery sales is used for public welfare purposes including support for low-income families, arts and culture promotion, and sports development through the Lottery Fund.
Lotteries serve a role beyond simple entertainment, contributing to social welfare. Each year, a substantial portion of the trillions of won in lottery sales revenue is invested in public interest projects that improve quality of life for citizens. However, due to concerns about gambling addiction, the government has implemented various regulations including per-person purchase limits to foster a healthy lottery culture.
Lotto 6/45
Lotto 6/45 is the most popular lottery in South Korea, where players choose 6 numbers from 1 to 45. The draw is broadcast live every Saturday at 8:35 PM on MBC. Each game costs 1,000 won (approximately $0.75 USD), and up to 5 games can be purchased per ticket.
Lotto 6/45 Prize Structure
The biggest attraction of Lotto 6/45 is its first-prize jackpot. About 50% of total sales are allocated to the prize pool, with approximately 75% of that going to first through third place prizes. The first-prize amount is divided among winners, so fewer winners mean a larger payout per person. The all-time highest first prize was approximately 40.7 billion won (about $30 million USD, before tax), recorded in Draw No. 47 in 2003.
Lotto numbers can be selected in three ways: automatic (random), manual (player-chosen), and semi-automatic (a mix of both). Interestingly, over 70% of historical first-prize winners used the automatic method. This is mainly because the proportion of automatic purchases is high overall, demonstrating that the number selection method does not affect winning probability.
Pension Lottery 720+
Pension Lottery 720+ was launched in April 2020 as an upgraded version of the previous pension lottery. Its most distinctive feature is that first-prize winners receive 7 million won per month for 20 years, totaling 1.68 billion won (approximately $1.26 million USD). Unlike Lotto, which pays a lump sum, this lottery guarantees a stable monthly income, earning it the nickname "Lifetime Pension."
Pension Lottery 720+ Structure
Each Pension Lottery 720+ ticket costs 1,000 won and is printed with two 5-digit number combinations. Players match a group number (Groups 1-5) and a 6-digit number. Draws are held every Thursday afternoon, and prizes are divided into seven tiers.
- 1st Prize: Match group + all 6 digits → 7 million won/month x 20 years
- 2nd Prize: Match all 6 digits (any group) → 1 million won/month x 10 years
- 3rd Prize: Match last 5 digits → 1 million won
- 4th Prize: Match last 4 digits → 100,000 won
- 5th Prize: Match last 3 digits → 50,000 won
- 6th Prize: Match last 2 digits → 5,000 won
- 7th Prize: Match last 1 digit → 1,000 won
A unique feature of the Pension Lottery is that the prize cannot be received as a lump sum -- it must be paid out monthly. Additionally, the prize is transferable and inheritable, so if a winner passes away, their heirs can continue receiving the remaining prize payments. This is a distinctive advantage that sets the Pension Lottery apart from Lotto.
Speetto (Instant Scratch Tickets)
Speetto is an instant scratch-off lottery issued by Dong-Haeng Lottery. Players can find out immediately whether they have won by scratching the coated surface of the ticket. The biggest appeal is that results are known instantly without waiting for a draw.
Types of Speetto
Speetto comes in several varieties based on price and maximum prize.
- Speetto 500: A 500-won scratch ticket with a top prize of 1 million won. A budget-friendly option for casual play.
- Speetto 1000: A 1,000-won ticket with a top prize of 5 million won. Same price range as Lotto but with instant results.
- Speetto 2000: A 2,000-won ticket with a top prize of 20-50 million won. A popular mid-range product.
- Speetto 3000: A 3,000-won ticket with a top prize of 100 million won. A premium instant ticket with the chance for a big win.
Each series of Speetto has predetermined total and winning ticket counts, allowing exact theoretical odds to be calculated. Generally, the probability of small wins is higher than Lotto, but the maximum prize is lower. Speetto is only available at retail locations and cannot be purchased online.
Powerball (Dong-Haeng Electronic Lottery)
The Korean Powerball operated by Dong-Haeng Lottery is a number-selection electronic lottery that can only be purchased online through the Dong-Haeng Lottery website. It offers several betting types including the standard Powerball and Powerball combinations, with draws held every 5 minutes. Up to 288 draws take place per day across 28 time periods.
The Korean Powerball draws one Powerball number from 1-28 and five regular balls from 1-10. Players can participate in various ways depending on the betting type, including odd/even, under/over, and range bets. The minimum bet is just 100 won per game, making it extremely affordable.
Caution: Due to the frequent draw schedule of Powerball, there is a risk of excessive purchasing temptation. Please always play responsibly within a predetermined budget.
Mega Lotto
Mega Lotto is another online-exclusive number-selection lottery operated by Dong-Haeng Lottery. Players choose 6 numbers from 1 to 45, which is structurally similar to Lotto 6/45, but differs in draw method and prize structure. Draws are held daily, and prizes are paid at fixed amounts.
The Mega Lotto first prize is approximately 500 million won (fixed), unlike Lotto 6/45 where the amount varies based on sales. This means winners receive the same amount regardless of the number of winners, which is an advantage. However, it also means there are no massive jackpots from rollovers.
Lottery Comparison Table
| Lottery | Price | Draw Frequency | 1st Prize | 1st Prize Odds | Purchase Method |
|---|---|---|---|---|---|
| Lotto 6/45 | 1,000 won | Weekly (Sat) | Variable (avg. ~2 billion won) | 1/8,145,060 | Offline + Online |
| Pension Lottery 720+ | 1,000 won | Weekly (Thu) | 7M won/month x 20 yrs | 1/5,000,000 | Offline |
| Speetto 500 | 500 won | Instant | 1 million won | ~1/500,000 | Offline |
| Speetto 1000 | 1,000 won | Instant | 5 million won | ~1/500,000 | Offline |
| Speetto 2000 | 2,000 won | Instant | 20M-50M won | ~1/800,000 | Offline |
| Speetto 3000 | 3,000 won | Instant | 100 million won | ~1/1,000,000 | Offline |
| Powerball | 100 won~ | Every 5 min | Varies by bet type | Varies by type | Online only |
Winning Odds Comparison
Comparing the first-prize odds of each lottery reveals interesting differences. Lotto 6/45 has the lowest first-prize odds at approximately 1 in 8.14 million, but offers the highest prizes. In contrast, Pension Lottery 720+ has first-prize odds of approximately 1 in 5 million -- about 1.6 times better than Lotto -- and the total payout (1.68 billion won) is also substantial.
Speetto offers relatively high odds for small prizes, allowing players to experience "small wins" more frequently. Generally, the overall winning rate (regardless of amount) for Speetto 1000 is about 30-40%, meaning roughly 1 in 3-4 tickets wins something. Of course, most wins are small amounts of 1,000 won, and the odds of high-value prizes remain very low.
Which lottery to choose depends on personal preference. If you dream of a life-changing windfall, Lotto 6/45 is the way to go. If you prefer stable monthly income, Pension Lottery 720+ is ideal. And if you enjoy the thrill of instant results, Speetto is the perfect choice.
Useful Tips for Lottery Purchases
- Budget management: Set a weekly or monthly lottery budget and never exceed it. The lottery is entertainment, not an investment vehicle.
- Prize taxes: All lottery winnings are subject to income tax in Korea. A rate of 22% applies to prizes up to 300 million won, and 33% for amounts exceeding 300 million won. Small prizes of 50,000 won or less are tax-free.
- Expiration: The deadline to claim prizes is one year from the payment start date. Unclaimed prizes revert to the Lottery Fund.
- Online purchases: Lotto and Pension Lottery tickets can be purchased online through the Dong-Haeng Lottery website. However, per-transaction and monthly purchase limits apply.
- Diversified purchases: Rather than concentrating on one lottery type, spreading small amounts across multiple types gives you a variety of winning opportunities.
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