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State lottery revenue: the importance of game characteristics

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Author Info
Thomas A. Garrett
Russell S. Sobel

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Abstract

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 by the expected value of the remaining lower prizes.

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Publisher Info
Paper provided by Federal Reserve Bank of St. Louis in its series Working Papers with number 2002-011.

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Date of creation: 2002
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Handle: RePEc:fip:fedlwp:2002-011

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Keywords: Gambling industry

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  1. Marilyn Young & Michael Reksulak & William F. Shughart, 2001. "The Political Economy of the IRS," Economics and Politics, Blackwell Publishing, vol. 13(2), pages 201-220, 07. [Downloadable!] (restricted)
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