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The Relationship of Pari‐mutuel Wagering and Casino Gaming to Personal Bankruptcy

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  • Richard Thalheimer
  • Mukhtar M. Ali

Abstract

In this article, the relationship of the availability of pari‐mutuel wagering and casino gaming opportunities to personal (nonbusiness) bankruptcy filings is investigated. An econometric model was developed relating the number of personal bankruptcies to sociodemographic, legal, and economic factors. In addition, a unique measure of access to casino and pari‐mutuel gaming was included. Population, personal income, age, race, divorce rate, unemployment rate, and the ratio of debt to disposable personal income were found to be significant determinants of personal bankruptcies. Access to pari‐mutuel or casino gaming facilities was found not to have a significant impact on personal bankruptcies. (JEL K1, K4, D1, L83)

Suggested Citation

  • Richard Thalheimer & Mukhtar M. Ali, 2004. "The Relationship of Pari‐mutuel Wagering and Casino Gaming to Personal Bankruptcy," Contemporary Economic Policy, Western Economic Association International, vol. 22(3), pages 420-432, July.
    • Handle: RePEc:bla:coecpo:v:22:y:2004:i:3:p:420-432
    DOI: 10.1093/cep/byh031
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Barry Scholnick & Hyungsuk Byun, 2016. "Do Slot Machines Cause Bankruptcy? A Regulatory Natural Experiment with Exogenous Changes to Slot Locations," ERSA conference papers ersa16p607, European Regional Science Association.
    2. Garrett, Thomas A. & Wall, Howard J., 2014. "Personal-Bankruptcy Cycles," Macroeconomic Dynamics, Cambridge University Press, vol. 18(7), pages 1488-1507, October.
    3. Garrett, Thomas A. & Nichols, Mark W., 2008. "Do casinos export bankruptcy?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(4), pages 1481-1494, August.
    4. Douglas M. Walker & John D. Jackson, 2007. "Do Casinos Cause Economic Growth?," American Journal of Economics and Sociology, Wiley Blackwell, vol. 66(3), pages 593-607, July.
    5. Hyungsuk Byun & Barry Scholnick, 2017. "Spatial Commitment Devices and Addictive Goods: Evidence from the Removal of Slot Machines from Bars," Working Papers 17-34, Federal Reserve Bank of Philadelphia.
    6. Kent R. Grote & Victor A. Matheson, 2014. "The Impact of State Lotteries and Casinos on State Bankruptcy Filings," Growth and Change, Wiley Blackwell, vol. 45(1), pages 121-135, March.
    7. Cotti, Chad D. & Walker, Douglas M., 2010. "The impact of casinos on fatal alcohol-related traffic accidents in the United States," Journal of Health Economics, Elsevier, vol. 29(6), pages 788-796, December.
    8. Kelly D. Edmiston, 2005. "New insights in the determinants of regional variation in personal bankruptcy filing rates," Community Affairs Research Working Paper 2005-05, Federal Reserve Bank of Kansas City.
    9. Jonathan Bauchet & David Evans, 2019. "Personal Bankruptcy Determinants Among U.S. Households During the Peak of the Great Recession," Journal of Family and Economic Issues, Springer, vol. 40(4), pages 577-591, December.
    10. Douglas M. Walker, 2013. "Casinonomics," Management for Professionals, Springer, edition 127, number 978-1-4614-7123-3, October.
    11. Baulkaran, Vishaal, 2022. "Personal bankruptcy and consumer credit delinquency: The case of personal finance education," International Review of Financial Analysis, Elsevier, vol. 81(C).
    12. Boardman, Barry & Perry, John J., 2007. "Access to gambling and declaring personal bankruptcy," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 36(5), pages 789-801, October.
    13. Thomas A. Garrett, 2007. "The rise in personal bankruptcies: the Eighth Federal Reserve District and beyond," Review, Federal Reserve Bank of St. Louis, vol. 89(Jan), pages 15-38.

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    More about this item

    JEL classification:

    • K1 - Law and Economics - - Basic Areas of Law
    • K4 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior
    • D1 - Microeconomics - - Household Behavior
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism

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