Running the Numbers on Lotteries and the Poor: An Empirical Analysis of Transfer Payment Distribution and Subsequent Lottery Sales

Andrew Weinbach and Rodney Paul

Atlantic Economic Journal, 2008, vol. 36, issue 3, 333-344

Abstract: State lottery revenues are shown to increase during the week transfer payments are distributed. The timing of the increase in lottery purchases suggests a portion of the transfer payments is used to purchase lottery tickets. In addition to providing information on the timing of lottery purchases, this study finds sales of Pick 3 and Pick 4 tickets increase during the period, while sales of Pick 5 and Pick 6 games do not, suggesting a general preference for the relatively higher probability, smaller jackpot games for the group. Copyright International Atlantic Economic Society 2008

Keywords: Lottery; Transfer payments; Liquidity constraints; Permanent income hypothesis; D00; D12; D91; H50; H53; I00; I38 (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1007/s11293-008-9138-6

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