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

Gulley, O D and Simmons, R and Forrest, D (2005) The relationship between betting and lottery play: a high frequency time-series analysis. Working Paper. The Department of Economics, Lancaster University.

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    Abstract

    The substitutability of different gambling products is an important concern for any jurisdiction contemplating deregulation of its gambling sector. We apply a novel daily time-series data set of daily turnover from one of Britain's leading bookmakers to analyse potential substitution between lottery play and bookmaker betting. We find some evidence that bettors do substitute away from horse race, dog race and numbers betting when the effective price of lottery tickets is unusually low, i.e. when there is a rollover or Superdraw. 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: Monograph (Working Paper)
    Uncontrolled Keywords: betting ; bookmaker ; lottery ; substitution
    Subjects:
    Departments: Lancaster University Management School > Economics
    ID Code: 48790
    Deposited By: ep_importer_pure
    Deposited On: 11 Jul 2011 22:12
    Refereed?: No
    Published?: Published
    Last Modified: 27 Jul 2012 01:15
    Identification Number:
    URI: http://eprints.lancs.ac.uk/id/eprint/48790

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