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Effects Of The Covid-19 Pandemic On Gambling Behavior And Revenues: A Multi-State Analysis, Xiaoling W. Sundberg
Effects Of The Covid-19 Pandemic On Gambling Behavior And Revenues: A Multi-State Analysis, Xiaoling W. Sundberg
Honors Undergraduate Theses
This thesis examines the impact of the COVID-19 pandemic on individual gambling behavior by testing whether ticket sales and revenues in the multi-state parimutuel PowerBall and MegaMillions lotteries decreased or increased between the pre-COVID and COVID periods in Florida, Texas, and Colorado. Two competing hypotheses are investigated. First, gambling activity may have decreased during COVID either due to increased risk-aversion induced by the pandemic, negative changes in household income from the loss of employment, or a combination of the two. Second, gambling activity may have increased during COVID either due to increased willingness to take risks, substitution of income previously …