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Gambling on Lotto Numbers: Testing for Substitutability or Complementarity Using Semi‐weekly Turnover Data

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  • Catriona Purfield
  • Patrick Waldron

Abstract

The impact on the demand for a gambling product of the introduction of a competing product is a topical issue in Britain, Ireland and elsewhere. We consider empirically the demand for Lotto itself and for fixed‐odds betting on the Lotto draw. The evidence suggests that these products are complements. Problems are posed by the need to rely on turnover data instead of price and quantity data in testing for substitutability or complementarity and by the semi‐weekly nature of Lotto draws, which raises the possibility of a `seasonal' unit root in the turnover time series.

Suggested Citation

  • Catriona Purfield & Patrick Waldron, 1999. "Gambling on Lotto Numbers: Testing for Substitutability or Complementarity Using Semi‐weekly Turnover Data," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 61(4), pages 527-544, November.
    • Handle: RePEc:bla:obuest:v:61:y:1999:i:4:p:527-544
    DOI: 10.1111/1468-0084.00142
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    Cited by:

    1. Jen-Hung Wang & Larry Tzeng & Junji Tien, 2006. "Willingness to pay and the demand for lotto," Applied Economics, Taylor & Francis Journals, vol. 38(10), pages 1207-1216.
    2. Humphreys, Brad & Perez, Levi, 2011. "Lottery Participants and Revenues: An International Survey of Economic Research on Lotteries," Working Papers 2011-17, University of Alberta, Department of Economics.
    3. O D Gulley & R Simmons & D Forrest, 2005. "The relationship between betting and lottery play: a high frequency time-series analysis," Working Papers 567306, Lancaster University Management School, Economics Department.
    4. Kent Grote & Victor Matheson, 2011. "The Economics of Lotteries: A Survey of the Literature," Working Papers 1109, College of the Holy Cross, Department of Economics.
    5. repec:lan:wpaper:3986 is not listed on IDEAS
    6. Chen, Shu-Heng & Chie, Bin-Tzong, 2008. "Lottery markets design, micro-structure, and macro-behavior: An ACE approach," Journal of Economic Behavior & Organization, Elsevier, vol. 67(2), pages 463-480, August.
    7. Kent Grote & Victor Matheson, 2011. "The Economics of Lotteries: An Annotated Bibliography," Working Papers 1110, College of the Holy Cross, Department of Economics.
    8. Jaume García & Plácido Rodríguez, 2007. "The Demand for Football Pools in Spain," Journal of Sports Economics, , vol. 8(4), pages 335-354, August.
    9. repec:lan:wpaper:3595 is not listed on IDEAS
    10. repec:lan:wpaper:3701 is not listed on IDEAS
    11. Chung, Hwan & Ahn, Dae-Yong & Ahn, Seungho, 2022. "Spillover effects of a mega shopping complex on pre-existing, small retail shops over space, over time and across retail types," Journal of Retailing and Consumer Services, Elsevier, vol. 65(C).

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