English, Article, Journal or magazine article edition: The relationship between betting and lottery play: a high frequency time-series analysis Rob Simmons; David Forrest; OD Gulley

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Bookmark: http://trove.nla.gov.au/version/59375
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • The relationship between betting and lottery play: a high frequency time-series analysis
Author
  • Rob Simmons
  • David Forrest
  • OD Gulley
Physical Description
  • preprint
Notes
  • 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.
  • betting, bookmaker, lottery, substitution
  • RePEc:lan:wpaper:002494
Language
  • English
Contributed by
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