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Should gambling markets be privatized? An examination of state lotteries in the United States

In: The Economics of Sports Betting

Author

Listed:
  • Kent R. Grote
  • Victor A. Matheson

Abstract

In North America and Europe, many sports betting operations are state-owned and could be argued to suffer from inefficiency and failure to innovate. Privatization of state betting operations could raise efficiency and lead to more product innovation. In this chapter the authors use the case of the Illinois State Lottery to analyse whether privatization could lead to increased lottery revenues and hence greater transfers to public projects. The privatization case they consider did not yield extra revenues and the authors examine why this might be so.

Suggested Citation

  • Kent R. Grote & Victor A. Matheson, 2017. "Should gambling markets be privatized? An examination of state lotteries in the United States," Chapters, in: Plácido Rodríguez & Brad R. Humphreys & Robert Simmons (ed.), The Economics of Sports Betting, chapter 2, pages 21-37, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:16946_2
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    Cited by:

    1. is not listed on IDEAS
    2. Andrei Ionuț-Valeriu, 2024. "State Owned Companies in the European Gaming Market: Comparative Perspectives," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 18(1), pages 1744-1757.

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    Keywords

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    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

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