Abstract
Hong Kong's success in economic growth is well known. One of the contributing factors could be legalized betting. Even after the transition of sovereignty from Britain to China, it is guaranteed that gambling activities will continue to exist. How active is gambling in Hong Kong? How large is the volume? This article investigates the gambling behavior of the Hong Kong people and tests the life cycle of the gambling business. Findings suggest that the people of Hong Kong have a rational basis for their gambling and that horse racing enjoys a longer life cycle than the lottery.
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