Chezum and Wimmer (2000) show the impact of asymmetric information in the American thoroughbred industry by demonstrating that homebreds (horses retained and raced by their breeders), on average, have lower betting odds than otherwise similar nonhomebreds. In this paper we test their hypothesis in the Australian thoroughbred industry. While we find no relationship between lower betting odds and homebreds when we use their model, we are still able to support their conclusion when we use a logistic model to measure the relationship between homebred and horse performance.
{"title":"A Note on the Evidence of Adverse Selection from Thoroughbred Wagering – Further Evidence in Australia","authors":"R. Wrathall","doi":"10.5750/JGBE.V7I2.758","DOIUrl":"https://doi.org/10.5750/JGBE.V7I2.758","url":null,"abstract":"Chezum and Wimmer (2000) show the impact of asymmetric information in the American thoroughbred industry by demonstrating that homebreds (horses retained and raced by their breeders), on average, have lower betting odds than otherwise similar nonhomebreds. In this paper we test their hypothesis in the Australian thoroughbred industry. While we find no relationship between lower betting odds and homebreds when we use their model, we are still able to support their conclusion when we use a logistic model to measure the relationship between homebred and horse performance.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133389129","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}
As U.S. politicians and voters continue to grapple with the slower-than-expected recovery from the 2007-09 recession, the legalization (or expansion) of commercial casinos has become an increasingly popular policy. Casinos are politically popular because the state government legalizes them, and can thus create a new industry which pays high taxes and may stimulate employment and economic development. Despite the fact that casinos are now widespread in the United States – there are around 1,000 commercial and tribal casinos – the empirical evidence on their economic impacts is still negligible. In two previous studies ( we have tested the relationship between state-level casino revenues and per capita income (i.e., economic growth) to provide evidence on whether or not casinos have a positive economic impact on states’ economies. We have utilized a Granger causality model modified for use with panel data. Our initial evidence, from a paper published in 1998, indicated that casinos do Granger cause economic growth. However, when we re-tested the model using up-to-date data (at the time, through 2005), we found no significant results. The casino industry has grown extensively since 2005, and although the recession of 2007-09 had a negative impact on the casino industry, the national-level revenue numbers are again climbing. We extend our previous analyses in order to provide updated evidence on the economic growth impact of commercial casinos in the United States. Section 2 provides a more detailed background of our previous analysis and an overview of other relevant literature. Section 3 describes the data and model, and provides the results. Section 4 is a discussion and conclusion.
{"title":"Casinos and economic growth: an update.","authors":"Douglas Walker","doi":"10.5750/JGBE.V7I2.757","DOIUrl":"https://doi.org/10.5750/JGBE.V7I2.757","url":null,"abstract":"As U.S. politicians and voters continue to grapple with the slower-than-expected recovery from the 2007-09 recession, the legalization (or expansion) of commercial casinos has become an increasingly popular policy. Casinos are politically popular because the state government legalizes them, and can thus create a new industry which pays high taxes and may stimulate employment and economic development. Despite the fact that casinos are now widespread in the United States – there are around 1,000 commercial and tribal casinos – the empirical evidence on their economic impacts is still negligible. In two previous studies ( we have tested the relationship between state-level casino revenues and per capita income (i.e., economic growth) to provide evidence on whether or not casinos have a positive economic impact on states’ economies. We have utilized a Granger causality model modified for use with panel data. Our initial evidence, from a paper published in 1998, indicated that casinos do Granger cause economic growth. However, when we re-tested the model using up-to-date data (at the time, through 2005), we found no significant results. The casino industry has grown extensively since 2005, and although the recession of 2007-09 had a negative impact on the casino industry, the national-level revenue numbers are again climbing. We extend our previous analyses in order to provide updated evidence on the economic growth impact of commercial casinos in the United States. Section 2 provides a more detailed background of our previous analysis and an overview of other relevant literature. Section 3 describes the data and model, and provides the results. Section 4 is a discussion and conclusion.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127544520","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 house advantage for Baccarat is known, hence the theoretical win can be determined. What is impractical to theoretically determine is the frequency and financial implications of extreme events, for example, prolonged winning streaks coupled with various betting patterns. The simulation herein provides such granularity. We explore the effect of following the ‘hot hand’, that is, rapidly escalating bets when players are on a winning streak. To minimize their exposure, casino management sets a table bet maximum as well as a table differential. These figures can and do serve as a means to differentiate one casino from another. As the allowable bet maximum increases so does the total amount bet, which increases the theoretical winnings, thus suggesting that a high bet limit and differential is beneficial for the house. However, the greater are these amounts, the greater the number of shoes that end with players losing relative to a constant betting scenario (the number of times a player wins at all can drop from ~47% of the time to less than a quarter); but there will, on occasion, be more extreme payouts to players. This simulation is therefore intended to help casino managers set betting limits that maximize total winnings while bearing in mind both the likelihood and magnitude of negative outcomes to the casino.
{"title":"GAMBLING ON GAMBLING: FINANCIAL IMPLICATIONS OF RAISING BET LIMITS AND TABLE DIFFERENTIALS","authors":"Mark T. Spence, S. Sugden, S. Kale","doi":"10.5750/JGBE.V7I1.600","DOIUrl":"https://doi.org/10.5750/JGBE.V7I1.600","url":null,"abstract":"The house advantage for Baccarat is known, hence the theoretical win can be determined. What is impractical to theoretically determine is the frequency and financial implications of extreme events, for example, prolonged winning streaks coupled with various betting patterns. The simulation herein provides such granularity. We explore the effect of following the ‘hot hand’, that is, rapidly escalating bets when players are on a winning streak. To minimize their exposure, casino management sets a table bet maximum as well as a table differential. These figures can and do serve as a means to differentiate one casino from another. As the allowable bet maximum increases so does the total amount bet, which increases the theoretical winnings, thus suggesting that a high bet limit and differential is beneficial for the house. However, the greater are these amounts, the greater the number of shoes that end with players losing relative to a constant betting scenario (the number of times a player wins at all can drop from ~47% of the time to less than a quarter); but there will, on occasion, be more extreme payouts to players. This simulation is therefore intended to help casino managers set betting limits that maximize total winnings while bearing in mind both the likelihood and magnitude of negative outcomes to the casino.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125041158","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}
Understanding what attributes are sought by casino visitors during their visit to a casino can enable casino operators to enhance the quality of service elements. This study assessed the important casino attributes that casino visitors seek when visiting a casino. The study also seek to identify the major segments of casino visitors with similar preferences for casino attributes, and determine whether difference(s) may exist between segments in terms of trip behavior and socio-demographic characteristics. Using the benefit segmentation approach, quantitative data were collected from 371 Chinese casino visitors. Four distinct segments of Chinese casino visitors were identified; namely games customers, casual tryout customers, employee service customers, and casino goers. Two segments were actually concerned with gaming specifically. Based on the findings, we established that casinos need to identify strategic segments and allocate adequate resources to achieve the competitive advantages of each segment. Casinos also need to develop innovative products or services for particular segments whose members may not see gaming as the main reason to visit casinos. This research highlights the need to use benefit segmentation to understand the visitors to casino properties.
{"title":"WHAT ATTRIBUTES ARE SOUGHT BY CHINESE CASINO VISITORS WHEN THEY VISIT A CASINO","authors":"S. H. Chan, P. Wan, M. Speece","doi":"10.5750/JGBE.V7I1.627","DOIUrl":"https://doi.org/10.5750/JGBE.V7I1.627","url":null,"abstract":"Understanding what attributes are sought by casino visitors during their visit to a casino can enable casino operators to enhance the quality of service elements. This study assessed the important casino attributes that casino visitors seek when visiting a casino. The study also seek to identify the major segments of casino visitors with similar preferences for casino attributes, and determine whether difference(s) may exist between segments in terms of trip behavior and socio-demographic characteristics. Using the benefit segmentation approach, quantitative data were collected from 371 Chinese casino visitors. Four distinct segments of Chinese casino visitors were identified; namely games customers, casual tryout customers, employee service customers, and casino goers. Two segments were actually concerned with gaming specifically. Based on the findings, we established that casinos need to identify strategic segments and allocate adequate resources to achieve the competitive advantages of each segment. Casinos also need to develop innovative products or services for particular segments whose members may not see gaming as the main reason to visit casinos. This research highlights the need to use benefit segmentation to understand the visitors to casino properties.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116487583","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}
Pub Date : 2013-05-23DOI: 10.1089/GLRE.2011.151107
Franz W. Peren
Although most individuals who gamble do so without any adverse consequences, some individuals develop a recurrent, maladaptive pattern of gambling behaviour, often called pathological gambling or gambling disorder, that is associated with financial losses, disruption of family and interpersonal relationships, and co-occurring psychiatric disorders. Identifying whether different types of gambling modalities vary in their ability to lead to maladaptive patterns of gambling behaviour is essential to develop public policies that seek to balance access to gambling opportunities with minimizing risk for the potential adverse consequences of gambling behaviour. Until recently, assessing the risk potential of different types of gambling products was nearly impossible. ASTERIG, initially developed in Germany in 2006-2010, is an assessment tool to measure and to evaluate the risk potential of any gambling product based on scores on ten dimensions. In doing so, it also allows a comparison to be drawn between the addictive potential of different gambling products. Furthermore, the tool highlights where the specific risk potential of each specific gambling product lies. This makes it a valuable tool at the legislative, case law, and administrative levels as it allows the risk potential of individual gambling products to be identified and to be compared globally and across 10 different dimensions of risk potential. We note that specific gambling products should always be evaluated rather than product groups (lotteries, slot machines) or providers, as there may be variations among those product groups that impact their risk potential. For example, slot machines may vary on the amount of jackpot, which may influence their risk potential.
{"title":"Assessment Tool to Measure and Evaluate the Risk Potential of Gambling Products: AsTERiG","authors":"Franz W. Peren","doi":"10.1089/GLRE.2011.151107","DOIUrl":"https://doi.org/10.1089/GLRE.2011.151107","url":null,"abstract":"Although most individuals who gamble do so without any adverse consequences, some individuals develop a recurrent, maladaptive pattern of gambling behaviour, often called pathological gambling or gambling disorder, that is associated with financial losses, disruption of family and interpersonal relationships, and co-occurring psychiatric disorders. Identifying whether different types of gambling modalities vary in their ability to lead to maladaptive patterns of gambling behaviour is essential to develop public policies that seek to balance access to gambling opportunities with minimizing risk for the potential adverse consequences of gambling behaviour. Until recently, assessing the risk potential of different types of gambling products was nearly impossible. ASTERIG, initially developed in Germany in 2006-2010, is an assessment tool to measure and to evaluate the risk potential of any gambling product based on scores on ten dimensions. In doing so, it also allows a comparison to be drawn between the addictive potential of different gambling products. Furthermore, the tool highlights where the specific risk potential of each specific gambling product lies. This makes it a valuable tool at the legislative, case law, and administrative levels as it allows the risk potential of individual gambling products to be identified and to be compared globally and across 10 different dimensions of risk potential. We note that specific gambling products should always be evaluated rather than product groups (lotteries, slot machines) or providers, as there may be variations among those product groups that impact their risk potential. For example, slot machines may vary on the amount of jackpot, which may influence their risk potential.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129340664","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}
We test whether the NCAA Selection Committee’s tournament seeding process is biased with respect to teams from the Mid-Major conferences, by analyzing Seeds, Spreads, Betting Lines, and the participants’ conference affiliations for the 819 games of the 13 NCAA Men’s Basketball Tournaments played from 2000 to 2012. We demonstrate that the Selection Committee overvalues Mid-Major teams that receive a favorable seed and undervalues those that receive unfavorable seeds. Because Mid-Major teams receive more unfavorable seeds than favorable ones, by a nearly two-to-one ratio, the net results are to the detriment of the Mid-Major conferences. We show that the betting market appears to acknowledge the Selection Committee’s bias and makes adjustments.
{"title":"Over-Valued And Under-Dogged: An Assessment Of The Seeding Of Mid-Major Teams In The Ncaa Men’S Basketball Tournament","authors":"J. Lackritz, B. Reinig, I. Horowitz","doi":"10.5750/JGBE.V7I1.626","DOIUrl":"https://doi.org/10.5750/JGBE.V7I1.626","url":null,"abstract":"We test whether the NCAA Selection Committee’s tournament seeding process is biased with respect to teams from the Mid-Major conferences, by analyzing Seeds, Spreads, Betting Lines, and the participants’ conference affiliations for the 819 games of the 13 NCAA Men’s Basketball Tournaments played from 2000 to 2012. We demonstrate that the Selection Committee overvalues Mid-Major teams that receive a favorable seed and undervalues those that receive unfavorable seeds. Because Mid-Major teams receive more unfavorable seeds than favorable ones, by a nearly two-to-one ratio, the net results are to the detriment of the Mid-Major conferences. We show that the betting market appears to acknowledge the Selection Committee’s bias and makes adjustments.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"107 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114496421","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 investigates whether it is possible to profit from market inefficiencies on betting exchanges during short tournaments. We describe how a Monte Carlo simulation method, with an inbuilt noise parameter applied on '1X2' markets, can be used to determine odds for derivative markets. In cases of mismatch between model and market odds, a modified Kelly strategy is proposed to determine the percentage of own funds placed against the market. When this proposal is applied to the UEFA European Nations association football tournament 2012, two important findings emerge: (a) a profit of circa 12% of allocated funds was generated, and (b) the profit is not contingent on the noise parameter, thus indicating the possibility of arbitrage between different betting markets. The proposed method can be extended to other sports provided the competition consists of a group stage held over a short period of time.
{"title":"PROFITING ON INEFFICIENCIES IN BETTING DERIVATIVE MARKETS: THE CASE OF UEFA EURO 2012","authors":"Dominic Cortis, Steven D. Hales, F. Bezzina","doi":"10.5750/JGBE.V7I1.597","DOIUrl":"https://doi.org/10.5750/JGBE.V7I1.597","url":null,"abstract":"This paper investigates whether it is possible to profit from market inefficiencies on betting exchanges during short tournaments. We describe how a Monte Carlo simulation method, with an inbuilt noise parameter applied on '1X2' markets, can be used to determine odds for derivative markets. In cases of mismatch between model and market odds, a modified Kelly strategy is proposed to determine the percentage of own funds placed against the market. When this proposal is applied to the UEFA European Nations association football tournament 2012, two important findings emerge: (a) a profit of circa 12% of allocated funds was generated, and (b) the profit is not contingent on the noise parameter, thus indicating the possibility of arbitrage between different betting markets. The proposed method can be extended to other sports provided the competition consists of a group stage held over a short period of time.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"65 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129458326","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}
Previous research has examined participation in betting in general, while sports bets have not been investigated specifically. The purpose of this study is to investigate the participation in sports betting and the mechanisms to place bets in Germany. Based on the economic household theory, it is assumed that participation in sports betting can be explained by a set of economic, socio-demographic, and lifestyle factors. A convenience sample of German citizens is drawn using an online survey (n=464). The results show that the typical online bettor is a male with high income, low education, and non-German nationality, who plays cards and poker during his leisure time, but does not regularly participate in sport. On the contrary, people betting via automats are predominantly female with low income and high education, who do not play poker, but practice sport in their leisure time. The findings have implications for policy makers.
{"title":"Examining Participation in Sports Betting in Germany","authors":"P. Wicker, B. Soebbing","doi":"10.5750/JGBE.V6I3.610","DOIUrl":"https://doi.org/10.5750/JGBE.V6I3.610","url":null,"abstract":"Previous research has examined participation in betting in general, while sports bets have not been investigated specifically. The purpose of this study is to investigate the participation in sports betting and the mechanisms to place bets in Germany. Based on the economic household theory, it is assumed that participation in sports betting can be explained by a set of economic, socio-demographic, and lifestyle factors. A convenience sample of German citizens is drawn using an online survey (n=464). The results show that the typical online bettor is a male with high income, low education, and non-German nationality, who plays cards and poker during his leisure time, but does not regularly participate in sport. On the contrary, people betting via automats are predominantly female with low income and high education, who do not play poker, but practice sport in their leisure time. The findings have implications for policy makers.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130724326","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}
Cointegrated time processes measuring NFL playoff game performances relative to the betting spreads are graphed in terms of candlestick charts and forecast in terms of autoregressive systems with time varying coefficients. Coefficients are modeled in terms of linear regressions on lagged shocks. Estimation is non Bayesian. Forecasts provide measures of market efficiency/inefficiency and outcome volatility. Risk assessment utilizes GARCH-type modeling in estimating volatility. Applications are presented for the New York Giants 2012 playoff games based on a data backlog of three years.
{"title":"FORECASTING NATIONAL FOOTBALL LEAGUE GAME OUTCOMES RELATIVE TO BETTING SPREADS","authors":"W. Mallios","doi":"10.5750/JGBE.V6I3.609","DOIUrl":"https://doi.org/10.5750/JGBE.V6I3.609","url":null,"abstract":"Cointegrated time processes measuring NFL playoff game performances relative to the betting spreads are graphed in terms of candlestick charts and forecast in terms of autoregressive systems with time varying coefficients. Coefficients are modeled in terms of linear regressions on lagged shocks. Estimation is non Bayesian. Forecasts provide measures of market efficiency/inefficiency and outcome volatility. Risk assessment utilizes GARCH-type modeling in estimating volatility. Applications are presented for the New York Giants 2012 playoff games based on a data backlog of three years.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123529716","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}
Consumer interest in horse racing has declined significantly in North America. In an attempt to reverse this decline, additional gambling opportunities, including simulcast betting, have been added at race tracks. This paper investigates the impact of simulcast betting on live racing handle at Canadian horse racetracks. Using data from the 18 largest Canadian racetracks over the period 1999 through 2006, IV results indicate that increases in remote wagering opportunities in Canada lead to small positive increases in live handle. Simulcast betting opportunities do not cannibalize live wagering, rather they increase live wagering.
{"title":"Does International Simulcast Wagering Reduce Live Handle at Canadian Racetracks","authors":"B. Humphreys, B. Soebbing","doi":"10.5750/JGBE.V6I3.612","DOIUrl":"https://doi.org/10.5750/JGBE.V6I3.612","url":null,"abstract":"Consumer interest in horse racing has declined significantly in North America. In an attempt to reverse this decline, additional gambling opportunities, including simulcast betting, have been added at race tracks. This paper investigates the impact of simulcast betting on live racing handle at Canadian horse racetracks. Using data from the 18 largest Canadian racetracks over the period 1999 through 2006, IV results indicate that increases in remote wagering opportunities in Canada lead to small positive increases in live handle. Simulcast betting opportunities do not cannibalize live wagering, rather they increase live wagering.","PeriodicalId":109210,"journal":{"name":"The Journal of Gambling Business and Economics","volume":"20 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-03-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133450359","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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