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The relationship between betting and lottery play: a high frequency time-series analysis

Simmons, R and Forrest, D and Gulley, O D (2010) The relationship between betting and lottery play: a high frequency time-series analysis. Economic Inquiry, 48 (1). pp. 26-38. ISSN 1465-7295

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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
    Journal or Publication Title: Economic Inquiry
    Subjects:
    Departments: Lancaster University Management School > Economics
    ID Code: 44495
    Deposited By: ep_importer_pure
    Deposited On: 11 Jul 2011 19:16
    Refereed?: Yes
    Published?: Published
    Last Modified: 10 Oct 2014 09:06
    Identification Number:
    URI: http://eprints.lancs.ac.uk/id/eprint/44495

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