Why Do People Tend to Buy Lottery Products? An Empirical Study on Demand for Lottery Products in Sri Lanka

1st International Conference on Modern Trends in Innovative Management, Faculty of Management Studies, Rajarata University of Sri Lanka

6 Pages Posted: 2 Apr 2012

See all articles by P.M.B Jayathilake

P.M.B Jayathilake

Rajarata University of Sri Lanka - Department of Business Management

J. Mallika

Rajarata University of Sri Lanka

Date Written: October 27, 2011

Abstract

Gambling has been part of human history since its beginning and different types of lottery gambling were recorded in the ancient period. Lotteries are now a big business, involving in more than half of the world countries. In the sense of economics, demand for lottery is illogical and irrational when comparing the probability of winning and low payout ratio. This paradoxical situation raises the question that why do people buy lotteries? This study focuses to examine the factors that help to explain the purchasing behavior of lottery buyers. A sample of 100 lottery buyers was selected for the study using purposive sampling technique. Data were collected through a sample survey of lottery buyers in Anuradhapura district using a semi structured questionnaire. Data analysis consists of descriptive statistical techniques, correlation, linear regression, ANOVA and Chi-Square tests. Results of the study revealed that psychological and demographical factors of lottery buyers influence on creating demand for lottery products. Further, significant and inverse relationships showed between education level of people with demand for the lottery products.

Keywords: lottery products, lottery buyers, demand for lottery

Suggested Citation

Jayathilake, Bandula and Mallika, Krishanthi, Why Do People Tend to Buy Lottery Products? An Empirical Study on Demand for Lottery Products in Sri Lanka (October 27, 2011). 1st International Conference on Modern Trends in Innovative Management, Faculty of Management Studies, Rajarata University of Sri Lanka, Available at SSRN: https://ssrn.com/abstract=2032484 or http://dx.doi.org/10.2139/ssrn.2032484

Bandula Jayathilake (Contact Author)

Rajarata University of Sri Lanka - Department of Business Management ( email )

Mihintale
Sri Lanka

Krishanthi Mallika

Rajarata University of Sri Lanka ( email )

Mihintale, North Central 50300
Sri Lanka

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