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Macro-Determinants of Gambling in Industrialized Nations

  • Frederic L. Pryor
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    This study investigates some of the macro-determinants of commercial gambling in 21 industrialized nations. Of the possible economic determinants, two seem particularly important: the per capita income of the country since gambling represents a larger share of the income of low-income people than high-income people; and the general uncertainty of the economic environment, as measured by annual fluctuations in the GDP. Of the possible cultural determines, two also seem particularly important: the values held by the population, as measured by a factor analysis of a number of questions from the World Value Study; and the degree to which the society insures against risk through social welfare expenditures. For the OECD nations in the early part of the 21-super-st century, all four variables prove to be significantly related to the ratio of gambling expenditures to disposable income. Copyright 2008 Blackwell Publishing Ltd..

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    Article provided by Wiley Blackwell in its journal Kyklos.

    Volume (Year): 61 (2008)
    Issue (Month): 1 (02)
    Pages: 101-113

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    Handle: RePEc:bla:kyklos:v:61:y:2008:i:1:p:101-113
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