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Should Gambling Markets be Privatized? An Examination of State Lotteries in the United States

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Author Info

  • Kent Grote

    ()
    (Department of Economics and Business, Lake Forest College)

  • Victor Matheson

    ()
    (Department of Economics, College of the Holy Cross)

Abstract

State lotteries currently operate in 43 states across the US. Recently, three states have privatized their lottery operations, handing over the management of their lotteries to private companies in hopes of generating greater revenues for the state governments. Questions arise regarding the economic rationale for this decision and an economic model is presented to determine whether one state, Illinois, has been successful at generating more state transfer revenues as a result of privatization in its first year of results. The issue of lottery privatization is also examined in the larger context of overall growth in the gambling industry in the United States with particular attention paid to sports gambling.

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File URL: http://college.holycross.edu/RePEc/hcx/Grote-Matheson_Privatization.pdf
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Bibliographic Info

Paper provided by College of the Holy Cross, Department of Economics in its series Working Papers with number 1303.

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Length: 26 pages
Date of creation: May 2013
Date of revision:
Handle: RePEc:hcx:wpaper:1303

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Web page: http://www.holycross.edu/departments/economics/website/
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Keywords: lotto; lottery; public finance; gambling;

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  1. Frees, Edward W. & Miller, Thomas W., 2004. "Sales forecasting using longitudinal data models," International Journal of Forecasting, Elsevier, vol. 20(1), pages 99-114.
  2. Terry Ashley & Yi Liu & Semoon Chang, 1999. "Estimating net lottery revenues for states," Atlantic Economic Journal, International Atlantic Economic Society, vol. 27(2), pages 170-178, June.
  3. Brad R. Humphreys & Victor Matheson, 2010. "Booms, Busts, and Gambling: Can Gaming Revenues Reduce Budget Volatility?," Working Papers 1003, College of the Holy Cross, Department of Economics.
  4. Robert Baumann & Victor Matheson, 2011. "Estimating economic impact using ex post econometric analysis: Cautionary tales," Working Papers 1103, College of the Holy Cross, Department of Economics.
  5. Victor Matheson & Kent Grote, 2008. "U.S. Lotto Markets," Working Papers 0802, College of the Holy Cross, Department of Economics.
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