An Examination of Two Competing Hypotheses for the Demand for Lottery Tickets

Ozzy Akay, Mark Griffiths and Drew Winters

Journal of Gambling Business and Economics, 2008, vol. 2, issue 1, 77-102

Abstract: We extend previous research on higher sales for end-of-the-week lottery drawings to a longer time series and to different lotteries. We find higher sales for end-of-the-week lotteries drawings with Wednesday/Saturday drawings and Tuesday/Friday drawings. Additionally, higher Friday sales from daily lotteries along with results from bonus play opportunities and intraday lottery sales provide evidence suggesting that the leisure time hypothesis is an incomplete explanation for the observed phenomenon. We offer an alternate explanation related to the preferred habitat for liquidity and suggest that an individual's pool of discretionary funds is largest immediately following pay days. It is the fact that the most common pay pattern is weekly or biweekly with payment on Fridays which likely results in higher sales for end-of-the-week lottery drawings.

JEL-codes: L83 (search for similar items in EconPapers)
Date: 2008
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.ubplj.org/index.php/jgbe/article/view/526 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:buc:jgbeco:v:2:y:2008:i:1:p:77-102

Ordering information: This journal article can be ordered from
http://www.jgbe.com/index_files/Page492.htm

Access Statistics for this article

Journal of Gambling Business and Economics is currently edited by Leighton Vaughan Williams, Nottingham Business School

More articles in Journal of Gambling Business and Economics from University of Buckingham Press
Bibliographic data for series maintained by Dominic Cortis, University of Malta ().