What does the red cloth on the fortune teller's head mean?

Why does the god of wealth cover his head with red cloth?

The god of wealth covers his head with a red cloth to show respect and good luck.

Respect: Red symbolizes joy and respect. Wearing red cloth on the head of the statue of the god of wealth can show respect for the god of wealth.

Geely: Red can ward off evil spirits, protect the statue of God of Wealth from dust and dirt, and also ward off evil spirits and bring good luck to people.