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Jackpot promotion model for Taiwan Lotto

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  • Chuan Lee
  • Chin-Tsai Lin
  • Chien-Hua Lai
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    Abstract

    Lotto was inaugurated in January 2002, and immediately became a popular activity in Taiwan; as the big craze following its initial introduction has subsided, the growth of Lotto game sales has slowed. To maintain lottery sales' momentum, operators have conducted numerous jackpot promotions; this study examines the effectiveness of various jackpot promotional strategies. The analytical results can provide a valuable reference for operators and governmental authorities regarding ways of increasing lottery earnings. The empirical findings of this investigation include the following: (1) the effective price elasticity of Lotto is -0.382; Taipei Fubon Bank can increase the revenue gained from Lotto by increasing the effective price; (2) operators can significantly increase lottery sales by declaring the jackpot as an unconditional added fixed or variable bonus.

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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Applied Economics.

    Volume (Year): 42 (2010)
    Issue (Month): 6 ()
    Pages: 797-801

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    Handle: RePEc:taf:applec:v:42:y:2010:i:6:p:797-801

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    Cited by:
    1. Kent Grote & Victor Matheson, 2011. "The Economics of Lotteries: A Survey of the Literature," Working Papers 1109, College of the Holy Cross, Department of Economics.
    2. Kent Grote & Victor Matheson, 2011. "The Economics of Lotteries: An Annotated Bibliography," Working Papers 1110, College of the Holy Cross, Department of Economics.

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