Estimating the effects of casinos and of lotteries on bankruptcy: A panel data set approach

Abstract

Using newly-constructed estimates of state revenue or its equivalent from casino-type and lottery gambling and panel data set regression techniques, a small but statistically significant bankruptcy effect is found. Assuming a linear relationship between gambling and the rate of personal bankruptcies, casino-type gambling increases bankruptcies by about 2%. Lottery gambling, while less potent per dollar of revenue generated, has about the same total effect.

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