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Regional Economic Development And Pari-Mutuel Racing: The Odds

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  • Margaret A. Ray

    (Texas Christian University)

Abstract

For many years regions have benefited from the existence of pari-mutuel horse racing tracks. Significant government revenue has been generated, racing and horse related industry has been developed, and tourism has been greatly increased for these regions as a direct result of the existence of a pari-mutuel race track. Supporters of racing point out that the race tracks provide jobs and revenue for the area, and that the development which accompanies the tracks does not lead to some of the negative externalities associated with industrial development. Recognizing these benefits, many states are contemplating or have recently passed laws to allow pari-mutuel betting. These states hope that pari-mutuel race tracks will bring economic development to and provide government revenue for the region. This paper develops a theoretical model and uses empirical analysis to identify the factors which determine the success or failure of pari-mutuel horse racing tracks.

Suggested Citation

  • Margaret A. Ray, 1991. "Regional Economic Development And Pari-Mutuel Racing: The Odds," The Review of Regional Studies, Southern Regional Science Association, vol. 21(1), pages 39-51, Spring.
    • Handle: RePEc:rre:publsh:v21:y:1991:i:1:p:39-51
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    References listed on IDEAS

    as
    1. Willis, Robert J & Rosen, Sherwin, 1979. "Education and Self-Selection," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 7-36, October.
    2. Gruen, Arthur, 1976. "An Inquiry into the Economics of Race-Track Gambling," Journal of Political Economy, University of Chicago Press, vol. 84(1), pages 169-177, February.
    3. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 31(3), pages 129-137.
    4. Murnane, Richard J & Newstead, Stuart & Olsen, Randall J, 1985. "Comparing Public and Private Schools: The Puzzling Role of Selectivity Bias," Journal of Business & Economic Statistics, American Statistical Association, vol. 3(1), pages 23-35, January.
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    Cited by:

    1. Ray, Margaret, 2001. "How Much on that Doggie at the Window? An Analysis of the Decline in Greyhound Racing Handle," The Review of Regional Studies, Southern Regional Science Association, vol. 31(2), pages 165-176, Fall.
    2. John C. Navin & Timothy S. Sullivan, 2007. "Do Riverboat Casinos Act as Competitors? A Look at the St. Louis Market," Economic Development Quarterly, , vol. 21(1), pages 49-59, February.

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