A Global Lottery and a Global Premium Bond

WIDER Discussion Paper, 2003/80

Posted: 20 Nov 2014

See all articles by Tony Addison

Tony Addison

United Nations University

Abdur Chowdhury

Marquette University - Department of Economics; United Nations - Economic Commission for Europe

Date Written: 2003

Abstract

The world lottery market now amounts to at least US$126 billion in sales. World market sales for all gaming products (public, charitable and commercial) total some US$1 trillion, of which Internet gambling accounts for US$32 billion. This paper assesses the prospects for harnessing this large and growing market for the purposes of development finance by means of a global lottery and a global premium bond (with the successful UK scheme providing a model for the latter). Each has different strengths: the global lottery can add to the supply of grant finance for development, while the global premium bond could be an attractive savings instrument for ethical investors. The paper concludes that global versions of both a lottery and a premium bond are viable and complementary in mobilizing more development finance.

Keywords: lottery, development finance, Millennium Development Goals

JEL Classification: F35, F33, H87

Suggested Citation

Addison, Tony and Chowdhury, Abdur, A Global Lottery and a Global Premium Bond (2003). WIDER Discussion Paper, 2003/80. Available at SSRN: https://ssrn.com/abstract=2528117

Tony Addison (Contact Author)

United Nations University ( email )

Katajanokanlaituri 6B
Helsinki, FIN-00160
Finland

Abdur Chowdhury

Marquette University - Department of Economics ( email )

P.O. Box 1881
Milwaukee, WI 53201-1881
United States

United Nations - Economic Commission for Europe ( email )

Palais des Nations
Geneva
Switzerland

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