In recent years, there has been a substantial global increase in gambling and prediction markets, including casinos, sports betting, lotteries, elections and wagering on financial instruments. This trend has heightened interest in numerous economic and financial issues related to this sector....

Several environmental changes in the 1990s--including the introduction of a national lottery, the rise of Internet gambling, and the reduction of trade barriers within the EU--induced the UK government to initiate a large--scale review of betting duty. As a result of this review, the government...

Gambling is one of the fastest growing service industries. Unfortunately, there have been no studies of total factor productivity (TFP) in this sector. The purpose of this paper is to fill this gap, based on an analysis of U.K. establishment-level data. These data are derived from the Annual...

In October 2001, the U.K. government implemented a dramatic shift in gambling taxation, resulting in a substantial decline in taxes levied on U.K. bookmakers. Using data before and after this event, we present econometric evidence on the demand response to this tax reduction. Our results imply...

The recent worldwide increase in gambling and prediction markets, including casinos, sports betting, lotteries, elections, and wagering on financial instruments has stimulated an important debate regarding the public policy implications of these activities. Some critical research questions...