Should Gambling Markets be Privatized? An Examination of State Lotteries in the United States
AbstractState 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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Bibliographic InfoPaper provided by College of the Holy Cross, Department of Economics in its series Working Papers with number 1303.
Length: 26 pages
Date of creation: May 2013
Date of revision:
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Web page: http://www.holycross.edu/departments/economics/website/
More information through EDIRC
lotto; lottery; public finance; gambling;
Find related papers by JEL classification:
- D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
- H71 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Taxation, Subsidies, and Revenue
- L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-06-09 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Robert Baumann & Victor Matheson, 2011.
"Estimating economic impact using ex post econometric analysis: Cautionary tales,"
1103, College of the Holy Cross, Department of Economics.
- Robert Baumann & Victor Matheson & Gordon Gekko, 2011. "Estimating economic impact using ex post econometric analysis: Cautionary tales," Working Papers 1112, International Association of Sports Economists & North American Association of Sports Economists.
- Victor Matheson & Kent Grote, 2008. "U.S. Lotto Markets," Working Papers 0802, College of the Holy Cross, Department of Economics.
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