Search Results
Working Paper
State lottery revenue: the importance of game characteristics
Previous studies find state lottery sales are significantly influenced by socioeconomic characteristics of the population. We extend this literature by examining how the overall expected value, the top prize, and the total combinations influence sales after controlling for these other socioeconomic factors. We perform our empirical analysis on an unparalleled set of data that includes information for 135 on-line lottery games in the United States. Our results show that sales are significantly influenced the top prize amount and odds of winning it, but that sales are not significantly affected ...
Working Paper
No smoking at the slot machines: the effect of a smoke-free law on Delaware gaming revenues
As communities around the nation consider laws restricting smoking in public places, a key political and economic issue that often arises is the effect that such laws have on the sales and profits of particular sectors. The gaming industry has been active in opposition to such ordinances, citing large prospective losses. This article analyzes the revenues of three gaming facilities in Delaware following the implementation of a smoke-free law in December 2002. Revenues are found to have declined significantly at each of the three facilities, with relative magnitudes of losses corresponding to ...
Journal Article
They're off
Off-track betting and remote TV feeds combine to make horse racing in Virginia look economically viable despite a gloomy national outlook for the business.
Working Paper
Income and lottery sales: transfers trump income from work and wealth
Previous studies have examined the effect of income on lottery ticket expenditures using an aggregate measure of income, usually personal income. Reasons exist, however, for believing that lottery expenditures do not respond equally to all sources of income. This paper examines the propensity to purchase lottery tickets from separate types of income, namely income from earnings, transfer payments, and wealth. Using county-level data for five states, we find evidence that lottery expenditures respond differently to changes in each income type, and that ticket purchases are most strongly ...
Journal Article
Casinos and cities: can they live together?
In 2011, Governor Patrick signed a bill authorizing casinos in Massachusetts. As other New England states consider their options, it is important to explore how casinos might affect the municipalities where they end up being built.
Journal Article
Conference flush with lessons on sports, entertainment, gambling
Journal Article
Letting the good times roll on riverboat casinos
Journal Article
Tunica lays big bet on the casino industry : gamble pays off for Mississippi town after years of struggle
Signs of prosperity pop up across the flat land of Tunica: nine flashy casinos, an expo center, a new golf course, an outlet mall, a recreation center and other attractions. Long-time residents like to brag about the "Tunica miracle." The old Tunica, the Tunica of the 1980s and early '90s, seems like a long time ago. Or does it?>
Journal Article
Economic history: Sport of kings : horse racing in Maryland
Related link(s): https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2009/spring/economic_history_weblinks.cfm