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 0095-2583

[img]
Preview
PDF (The relationship between betting and lottery play: a high frequency time-series analysis)
10.pdf - Submitted Version

Download (170kB)

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:
Journal Article
Journal or Publication Title:
Economic Inquiry
Uncontrolled Keywords:
/dk/atira/pure/subjectarea/aacsb/disciplinebasedresearch
Subjects:
ID Code:
44495
Deposited By:
Deposited On:
11 Jul 2011 18:16
Refereed?:
Yes
Published?:
Published
Last Modified:
08 Aug 2020 02:31