The 2018 ruling by the United States Supreme Court essentially legalized sports betting across the nation. Prior to that ruling, sports books were restricted by virtue of the Professional and Amateur Sports Protection Act (PASPA). But with a landmark 6-3 decision, the opportunity door for sports betting has been opened in all 50 states and the District of Columbia. This research focuses on two considerations regarding the opening of that door. Who are the potential beneficiaries, and what benefits might those beneficiaries derive? A detailed examination of the newly emerging literature identified 14 potential beneficiaries that fall within four broad categories: sports entities, traditional sources of revenue, the gaming industry, and other nonsports entities. Among these beneficiaries are the teams, organizations, fans, sponsors, bettors, the media, and society-in-general. The majority of the benefits revolve around financial considerations, but it is not always as straight-forward as cash. So, while the NBA is benefitting from a cash flow from its casino sponsor, society-in-general may benefit from enriched educational resources and a better infrastructure. This article further delineates the potential benefits for each of the 14 beneficiaries that have been identified.
{"title":"An Assessment of the Fourteen Beneficiaries of Legalized Sports Betting and the Potential Benefits that They Derive","authors":"S. Fullerton, M. McCall, R. Dick","doi":"10.5750/jgbe.v13i1.1777","DOIUrl":"https://doi.org/10.5750/jgbe.v13i1.1777","url":null,"abstract":"The 2018 ruling by the United States Supreme Court essentially legalized sports betting across the nation. Prior to that ruling, sports books were restricted by virtue of the Professional and Amateur Sports Protection Act (PASPA). But with a landmark 6-3 decision, the opportunity door for sports betting has been opened in all 50 states and the District of Columbia. This research focuses on two considerations regarding the opening of that door. Who are the potential beneficiaries, and what benefits might those beneficiaries derive? A detailed examination of the newly emerging literature identified 14 potential beneficiaries that fall within four broad categories: sports entities, traditional sources of revenue, the gaming industry, and other nonsports entities. Among these beneficiaries are the teams, organizations, fans, sponsors, bettors, the media, and society-in-general. The majority of the benefits revolve around financial considerations, but it is not always as straight-forward as cash. So, while the NBA is benefitting from a cash flow from its casino sponsor, society-in-general may benefit from enriched educational resources and a better infrastructure. This article further delineates the potential benefits for each of the 14 beneficiaries that have been identified.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115519185","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
On January 13, 2016, the largest jackpot prize in world history took place. In this paper, we examied the Powerball's regressivity from the 16th drawing with a jackpot prize of $301.8 million to the 20th drawing with a jackpot prize of $1.5 billion. These last five drawings allowed us to examine whether the regressivity continues to decline and turns progressive as jackpot levels approach the billion-dollar mark. Our sample include Powerball sales from 44 states and the District of Columbia. Since the cost of living varied across states/jurisdictions, we used real lottery and income data to estimate income elasticity. For the 16th through 18th drawings, there is a positive relationship between jackpot level and income elasticity. However, on the 19th drawing with a jackpot of $949.8 million, the income elasticity declined to 0.554 from 0.900. On the 20th drawing, the income elasticity increased to 0.649 but remained below 0.900 reached on the 18th drawing.
{"title":"The Powerball Regressivity: An Evidence from the World's Largest Lottery Prize","authors":"S. Lee, Ki C. Han, David Y. Suk, Hyunmo Sung","doi":"10.5750/JGBE.V12I1.1489","DOIUrl":"https://doi.org/10.5750/JGBE.V12I1.1489","url":null,"abstract":"On January 13, 2016, the largest jackpot prize in world history took place. In this paper, we examied the Powerball's regressivity from the 16th drawing with a jackpot prize of $301.8 million to the 20th drawing with a jackpot prize of $1.5 billion. These last five drawings allowed us to examine whether the regressivity continues to decline and turns progressive as jackpot levels approach the billion-dollar mark. Our sample include Powerball sales from 44 states and the District of Columbia. Since the cost of living varied across states/jurisdictions, we used real lottery and income data to estimate income elasticity. For the 16th through 18th drawings, there is a positive relationship between jackpot level and income elasticity. However, on the 19th drawing with a jackpot of $949.8 million, the income elasticity declined to 0.554 from 0.900. On the 20th drawing, the income elasticity increased to 0.649 but remained below 0.900 reached on the 18th drawing.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126858193","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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.
{"title":"Interdependent lotteries and the jackpot model of lottery demand","authors":"G. Geronikolaou","doi":"10.5750/JGBE.V12I2.1719","DOIUrl":"https://doi.org/10.5750/JGBE.V12I2.1719","url":null,"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.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"62 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133876389","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper examines the economic effects of changes in technology on gaming revenue in Nevada between 1984 and 2015. Slots outperformed table games in terms or revenue growth during that time-period. The paper provides evidence that those performance gains are attributable both to increased capacity and increased efficiency. Gains attributable to increased capacity, measured by units-in-service, are indicative of successful industry efforts to tap new market segments. Gains attributable to increased efficiency, measured by revenue-per-unit, are indicative of successful industry efforts to expedite gaming productivity. Additional analysis shows that most of the growth in slot revenue occurred prior to 2002, and was primarily attributable to increased capacity. Between 2002 and 2007, revenue growth was more modest, with most of the gains attributed to improved efficiency. Finally, beginning in 2008, slots began to reflect the effects of the Great Recession, surrendering a significant portion of their revenue gains, with decreases in both capacity and efficiency. These results should be of interest to policy makers and others interested in the determinants of gaming revenue.
{"title":"Slot Revenue Growth in Nevada: An Empirical Analysis","authors":"Scott J. Boylan","doi":"10.5750/JGBE.V12I1.1684","DOIUrl":"https://doi.org/10.5750/JGBE.V12I1.1684","url":null,"abstract":"This paper examines the economic effects of changes in technology on gaming revenue in Nevada between 1984 and 2015. Slots outperformed table games in terms or revenue growth during that time-period. The paper provides evidence that those performance gains are attributable both to increased capacity and increased efficiency. Gains attributable to increased capacity, measured by units-in-service, are indicative of successful industry efforts to tap new market segments. Gains attributable to increased efficiency, measured by revenue-per-unit, are indicative of successful industry efforts to expedite gaming productivity. Additional analysis shows that most of the growth in slot revenue occurred prior to 2002, and was primarily attributable to increased capacity. Between 2002 and 2007, revenue growth was more modest, with most of the gains attributed to improved efficiency. Finally, beginning in 2008, slots began to reflect the effects of the Great Recession, surrendering a significant portion of their revenue gains, with decreases in both capacity and efficiency. These results should be of interest to policy makers and others interested in the determinants of gaming revenue.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"51 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125430414","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Two serious junket incidents happened in Macao in 2014 and 2015 which led to the significant drop in gross gaming revenue lasting for 27 consecutive months. Therefore, this paper intends to investigate the importance of junket operation towards gaming companies’ financial performance and also its interaction with the quality of corporate governance. This study uses regression analysis to investigate the relationships among corporate governance, financial performance, and junket promoters in Macao’s gaming industry as well as the differences between those relationships under different economic conditions. The result reflects that when economy is growing, the corporate governance quality of gaming operators shows a decreasing trend. Under the control of corporate governance, the gaming operators tend to cooperate with junket promoters in a positive manner. In contrast, without the interaction of corporate governance, the junket operation brings negative impact on casino income, especially during booming economic periods. The result is consistent with the actual commission percentage over casino revenue, corporate governance score, and EPS for gaming operators. The extant literature mainly focuses on the relationship between corporate governance and firm’s financial performance. In gaming sector, the importance of junket operation towards casino profit and its interaction with corporate governance leaves much to be explored in the related academia. This study not only fills in the research gap, but also provides constructive suggestions for Macao government to improve the gaming inspection system as well as the rules on junket operations.
{"title":"Junket Operation, Macao’s Growing Pains or Stimulants?","authors":"Jieqi Guan, Ming Liu","doi":"10.5750/JGBE.V12I2.1734","DOIUrl":"https://doi.org/10.5750/JGBE.V12I2.1734","url":null,"abstract":"Two serious junket incidents happened in Macao in 2014 and 2015 which led to the significant drop in gross gaming revenue lasting for 27 consecutive months. Therefore, this paper intends to investigate the importance of junket operation towards gaming companies’ financial performance and also its interaction with the quality of corporate governance. This study uses regression analysis to investigate the relationships among corporate governance, financial performance, and junket promoters in Macao’s gaming industry as well as the differences between those relationships under different economic conditions. The result reflects that when economy is growing, the corporate governance quality of gaming operators shows a decreasing trend. Under the control of corporate governance, the gaming operators tend to cooperate with junket promoters in a positive manner. In contrast, without the interaction of corporate governance, the junket operation brings negative impact on casino income, especially during booming economic periods. The result is consistent with the actual commission percentage over casino revenue, corporate governance score, and EPS for gaming operators. The extant literature mainly focuses on the relationship between corporate governance and firm’s financial performance. In gaming sector, the importance of junket operation towards casino profit and its interaction with corporate governance leaves much to be explored in the related academia. This study not only fills in the research gap, but also provides constructive suggestions for Macao government to improve the gaming inspection system as well as the rules on junket operations.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128344105","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
There are a total of 243 Native Indian tribes which collectively have 512 tribal casinos. A majority of tribal casinos offer loyalty cards and free play, and many tribal casinos spend millions of dollars per year on this form of marketing. Tribal operators argue that the full face value of all free-play offers should be considered a marketing expense, but taxing authorities in many states are not in agreement, and argue that some percentage or all of Free Play should not be considered an expense item by the casinos. In this article, we provide a very brief history of tribal gaming, explain how Free Play affects house advantages and other performance indicators of casino slot floors, include a discussion on the structure of state taxation in the U.S., and also show how tribal casinos in different states stack up in terms of gross gaming revenue and taxes.
{"title":"On Free Play and Tribal Gaming Taxes","authors":"Ashok K. Singh","doi":"10.5750/JGBE.V12I2.1693","DOIUrl":"https://doi.org/10.5750/JGBE.V12I2.1693","url":null,"abstract":"There are a total of 243 Native Indian tribes which collectively have 512 tribal casinos. A majority of tribal casinos offer loyalty cards and free play, and many tribal casinos spend millions of dollars per year on this form of marketing. Tribal operators argue that the full face value of all free-play offers should be considered a marketing expense, but taxing authorities in many states are not in agreement, and argue that some percentage or all of Free Play should not be considered an expense item by the casinos. In this article, we provide a very brief history of tribal gaming, explain how Free Play affects house advantages and other performance indicators of casino slot floors, include a discussion on the structure of state taxation in the U.S., and also show how tribal casinos in different states stack up in terms of gross gaming revenue and taxes.\u0000\u0000 ","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115697531","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
With the increasing rate of youth unemployment in the country, Nigeria’s youths have invested their commitments (time, money and intrinsic efforts) to several gambling avenues such as Baba Ijebu, Naira Bet, Westen Lotto Bet, etc. to source for finance to meet up their daily expenses and reduce the crime rate that would have engaged in as a result of high rate of unemployment. The aggregate unemployment rate is 70%, while youth unemployment accounts for about 58%. With the huge rate of youth unemployment in the country, the study intends to examine the participation level of youths in gambling in Lagos State. It further inspects the effects of youth gambling on household welfare and spending. Methods used by the paper include: a two-stage survey design, a qualitative component that comprises of the targeted focus group discussions and probit modelling to estimate how important the identified challenges are. The paper found that Nigeria’s unemployed youths have utmost interest in gambling to sustaining their income source and meeting daily spending. These activities have reduce crime rate orchestrated by the youths, but with rising displacement effects on household welfare and spending. The paper concludes that gambling has adverse effect of youth’s welfare and therefore, recommends that the Lagos State government should embark on formalizing all gambling activities to protect the gambling youths and strengthen tax revenue collection through the introduction of “per winning tax”.
随着该国青年失业率的上升，尼日利亚的年轻人已经将他们的承诺(时间，金钱和内在努力)投入到几个赌博途径，如Baba Ijebu, Naira Bet, western Lotto Bet等，以获得资金，以满足他们的日常开支，并减少由于高失业率而导致的犯罪率。总失业率为70%，而青年失业率约占58%。由于该国青年失业率高，该研究旨在研究拉各斯州青少年赌博的参与水平。它进一步考察了青少年赌博对家庭福利和支出的影响。本文使用的方法包括:一个两阶段的调查设计，一个由目标焦点小组讨论和概率模型组成的定性组成部分，以估计所确定的挑战的重要性。该论文发现，尼日利亚的失业青年对赌博最感兴趣，以维持他们的收入来源和满足日常支出。这些活动减少了由年轻人策划的犯罪率，但对家庭福利和支出的影响越来越大。本文得出的结论是，赌博对青少年的福利有不利影响，因此，建议拉各斯州政府应着手将所有赌博活动正规化，以保护赌博青年，并通过引入“每赢税”加强税收征收。
{"title":"Welfare Effects of Gambling on Nigerian Youths: A Case Study of Lagos State","authors":"S. Mustapha, Sunday Oluwafemi Enilolobo","doi":"10.5750/JGBE.V12I1.1629","DOIUrl":"https://doi.org/10.5750/JGBE.V12I1.1629","url":null,"abstract":"With the increasing rate of youth unemployment in the country, Nigeria’s youths have invested their commitments (time, money and intrinsic efforts) to several gambling avenues such as Baba Ijebu, Naira Bet, Westen Lotto Bet, etc. to source for finance to meet up their daily expenses and reduce the crime rate that would have engaged in as a result of high rate of unemployment. The aggregate unemployment rate is 70%, while youth unemployment accounts for about 58%. With the huge rate of youth unemployment in the country, the study intends to examine the participation level of youths in gambling in Lagos State. It further inspects the effects of youth gambling on household welfare and spending. Methods used by the paper include: a two-stage survey design, a qualitative component that comprises of the targeted focus group discussions and probit modelling to estimate how important the identified challenges are. The paper found that Nigeria’s unemployed youths have utmost interest in gambling to sustaining their income source and meeting daily spending. These activities have reduce crime rate orchestrated by the youths, but with rising displacement effects on household welfare and spending. The paper concludes that gambling has adverse effect of youth’s welfare and therefore, recommends that the Lagos State government should embark on formalizing all gambling activities to protect the gambling youths and strengthen tax revenue collection through the introduction of “per winning tax”.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121978605","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper examines the presence of "jet-lag" effects in the Australian Football League point spread betting market. Fodor and Krieger’s (2014) findings that bookmakers, in NFL betting markets, do not consider efficiently the possible impact of jet lag on team performance, and are unable to take into account the possible existence of a potentially confounding home team bias since in virtually all games in the NFL, one of the teams has an a priori home ground advantage. Schnytzer and Weinberg (2008) took advantage of the distinctive feature of the Australian Football League (AFL), that many fixtures take place on neutral grounds, to demonstrate the apparent existence of a home team bias and the absence of a favorite-longshot bias. We conduct standard econometric tests of market efficiency over games where the home team bias cannot, by definition, exist. We used the 2001-2016 AFL seasons including the final series matches, venues, and betting information data and found no statistically significant line inefficiency in the games played on neutral grounds, regardless of whether the visiting team travels across multiple time zones in either direction or whether neither team requires a flight to reach the relevant stadium. However, line inefficiencies were found in overall games in which the home team enjoys an a priori home ground advantage. Such inefficiencies occur both in games where the visiting team experiences time zone changes when traveling to the game, and in games where the visiting team experiences no such changes. The amalgamated results for both neutral games and home bias games makes clear that jet lag cannot serve as a sole factor leading to inefficiencies but merely if combined with the home team bias. We show that betting on games in various inefficient sub-groups yields returns between 1.26 and 8.07 percent.
{"title":"The Impact of \"Jet Lag\" on the AFL Point Spread Wagering Market","authors":"Adi Schnytzer, Albert Hizgilov","doi":"10.5750/JGBE.V12I1.1518","DOIUrl":"https://doi.org/10.5750/JGBE.V12I1.1518","url":null,"abstract":"This paper examines the presence of \"jet-lag\" effects in the Australian Football League point spread betting market. Fodor and Krieger’s (2014) findings that bookmakers, in NFL betting markets, do not consider efficiently the possible impact of jet lag on team performance, and are unable to take into account the possible existence of a potentially confounding home team bias since in virtually all games in the NFL, one of the teams has an a priori home ground advantage. Schnytzer and Weinberg (2008) took advantage of the distinctive feature of the Australian Football League (AFL), that many fixtures take place on neutral grounds, to demonstrate the apparent existence of a home team bias and the absence of a favorite-longshot bias. We conduct standard econometric tests of market efficiency over games where the home team bias cannot, by definition, exist. We used the 2001-2016 AFL seasons including the final series matches, venues, and betting information data and found no statistically significant line inefficiency in the games played on neutral grounds, regardless of whether the visiting team travels across multiple time zones in either direction or whether neither team requires a flight to reach the relevant stadium. However, line inefficiencies were found in overall games in which the home team enjoys an a priori home ground advantage. Such inefficiencies occur both in games where the visiting team experiences time zone changes when traveling to the game, and in games where the visiting team experiences no such changes. The amalgamated results for both neutral games and home bias games makes clear that jet lag cannot serve as a sole factor leading to inefficiencies but merely if combined with the home team bias. We show that betting on games in various inefficient sub-groups yields returns between 1.26 and 8.07 percent.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"106 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132283183","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The link between sensation seeking and gambling among college students requires further attention to inform prevention endeavors. This study examines the link between sensation seeking (SS) and gambling among college students living in close proximity to gambling venues. Path analysis from data collected from 445 college students shows that SS, attitude, norms and sense of control can reveal intention to gamble, and that intention to gamble is a precursor to problem gambling. The results of this study contribute to our knowledge regarding gambling among college students, particularly the sensation seekers. The findings suggest that appropriate social support and concern be given to the at-risk gamblers. The implications of the results are discussed. Recommendations for future research directions are also provided.
{"title":"Linking sensation seeking to the TPB model to predict gambling intention and problem gambling among undergraduate college students","authors":"S. H. Chan, Chang Boon Patrick Lee","doi":"10.5750/JGBE.V12I1.1679","DOIUrl":"https://doi.org/10.5750/JGBE.V12I1.1679","url":null,"abstract":"The link between sensation seeking and gambling among college students requires further attention to inform prevention endeavors. This study examines the link between sensation seeking (SS) and gambling among college students living in close proximity to gambling venues. Path analysis from data collected from 445 college students shows that SS, attitude, norms and sense of control can reveal intention to gamble, and that intention to gamble is a precursor to problem gambling. The results of this study contribute to our knowledge regarding gambling among college students, particularly the sensation seekers. The findings suggest that appropriate social support and concern be given to the at-risk gamblers. The implications of the results are discussed. Recommendations for future research directions are also provided.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124547117","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Macao, located on the southeast coast of China, is perfectly situated to receive patrons from China about thirty years after its open-door policy in 1978 when they have accumulated significant amounts of wealth. With its gaming liberalization and the supply of such mainland Chinese patrons, Macao has become the world’s gambling capital since 2007. This article aims to analyze the major factors leading to this dominant economic performance. The experience of the mainland Chinese in the Cultural Revolution and the Era of the Gang of Four has motivated them to get rich quick to enjoy the material comforts that they have been deprived. Given that baccarat has a low house edge and is easy to play, many mainland Chinese like to play baccarat in Macao. Moreover, the interaction with the card afforded by baccarat, makes patrons feel that that they can control over the gambling outcome, and this fits the mainland Chinese psychology in their attempt to win much and quick with their high stakes. On the other hand, casinos have trained croupiers to make their patrons stay longer, including being polite, identifying the emotional status of patrons, managing patrons’ emotions and regulating the croupiers’ own emotions. In this way, casinos in Macao not only can make patrons experience sovereignty while in control of the staff-client interactions, but also help Macao attract the world-record gaming revenue.
{"title":"Why has Macao attracted the world-record gaming revenue?","authors":"Carlos Siu Lam","doi":"10.5750/jgbe.v12i2.1635","DOIUrl":"https://doi.org/10.5750/jgbe.v12i2.1635","url":null,"abstract":"Macao, located on the southeast coast of China, is perfectly situated to receive patrons from China about thirty years after its open-door policy in 1978 when they have accumulated significant amounts of wealth. With its gaming liberalization and the supply of such mainland Chinese patrons, Macao has become the world’s gambling capital since 2007. This article aims to analyze the major factors leading to this dominant economic performance.\u0000\u0000 \u0000\u0000The experience of the mainland Chinese in the Cultural Revolution and the Era of the Gang of Four has motivated them to get rich quick to enjoy the material comforts that they have been deprived. Given that baccarat has a low house edge and is easy to play, many mainland Chinese like to play baccarat in Macao. Moreover, the interaction with the card afforded by baccarat, makes patrons feel that that they can control over the gambling outcome, and this fits the mainland Chinese psychology in their attempt to win much and quick with their high stakes.\u0000\u0000 \u0000\u0000On the other hand, casinos have trained croupiers to make their patrons stay longer, including being polite, identifying the emotional status of patrons, managing patrons’ emotions and regulating the croupiers’ own emotions. In this way, casinos in Macao not only can make patrons experience sovereignty while in control of the staff-client interactions, but also help Macao attract the world-record gaming revenue.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129855824","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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