14
views
0
recommends
+1 Recommend
1 collections
    0
    shares
      • Record: found
      • Abstract: found
      • Article: found

      Interdependent lotteries and the jackpot model of lottery demand

      1

      The Journal of Gambling Business and Economics

      University of Buckingham Press

      lottery, jackpot model, payout ratio, monopoly

      Read this article at

      ScienceOpenPublisher
      Bookmark
          There is no author summary for this article yet. Authors can add summaries to their articles on ScienceOpen to make them more accessible to a non-specialist audience.

          Abstract

          Bettors may view different gambles either as substitutes or complements. Assuming that the grand prize is the main driver of the demand for multi-prize lottery bets, this paper presents a theory of lottery sales maximization considering possible complementarity or substitutability among different lottery gambles offered by a single operator. Optimal payout ratios are derived accounting not only for interrelation among games but also for their relative popularity. The new profit optimization rule is then applied to a dataset of two Greek lotteries.

          Related collections

          Author and article information

          Contributors
          Journal
          The Journal of Gambling Business and Economics
          University of Buckingham Press
          11 October 2019
          : 12
          : 2
          : 37-43
          Affiliations
          [1 ] Democritus Univerity of Thrace, Department of Economics, Greece
          Article
          10.5750/jgbe.v12i2.1719

          Comments

          Comment on this article