Should Gambling Markets be Privatized? An Examination of State Lotteries in the United States
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.
|Date of creation:||May 2013|
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Web page: http://www.holycross.edu/departments/economics/website/
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- 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.
- 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.
- 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.
- Frees, Edward W. & Miller, Thomas W., 2004. "Sales forecasting using longitudinal data models," International Journal of Forecasting, Elsevier, vol. 20(1), pages 99-114.
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