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The relationship between betting and lottery play

Forrest, DK, Gulley, OD and Simmons, R 2010, 'The relationship between betting and lottery play' , Economic Inquiry, 48 (1) , pp. 26-38.

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    Abstract

    We apply a novel daily time series data set of daily turnover from one of Britain’s leading bookmakers to analyze potential substitution between lottery play and bookmaker betting. We find some evidence that bettors do substitute away from horse race, soccer and numbers betting when the effective price of lottery tickets is unusually low, that is, when there is a rollover or other special draw. This substitution has a highly specific pattern of timing that varies by sector. Our results further suggest that bettors rationally engage in forward-looking substitution within their betting portfolios.

    Item Type: Article
    Themes: Subjects outside of the University Themes
    Schools: Colleges and Schools > College of Business & Law > Salford Business School > Centre for Sports Business
    Journal or Publication Title: Economic Inquiry
    Publisher: Wiley
    Refereed: Yes
    ISSN: 00952583
    Depositing User: Users 29196 not found.
    Date Deposited: 12 Dec 2011 12:10
    Last Modified: 20 Aug 2013 18:19
    URI: http://usir.salford.ac.uk/id/eprint/19168

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