Online Gambling an Economics Perspective

Authored by: Robert J. Williams , Robert T. Wood , Jonathan Parke

Routledge International Handbook of Internet Gambling

Print publication date:  June  2012
Online publication date:  November  2012

Print ISBN: 9780415594431
eBook ISBN: 9780203814574
Adobe ISBN:

10.4324/9780203814574-2

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Abstract

A rich literature offers analysis of important issues within traditional land-based gambling industries. For example, economists have studied topics such as: the sensitivity of consumers to changes in take-out;1 substitution between modes of gambling as relative prices/take-outs vary; cannibalization of existing by newly permitted forms of gambling; impact of gaming facilities on local economies and on local crime; and cyclical sensitivity of the demand for gambling products. In line with standard practice in modern economics, almost all such studies begin with predictions from economic theory, follow with econometric modelling of relevant primary or secondary data, and conclude with a discussion of the evidence and its implications for understanding behaviour or formulating policy.

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