Gambling activities can either be luck-based or skill-based. People who play skill-based games, like poker, need to understand rules and strategies in order to play. However, people who engage in luck-based gambling, like buying lottery tickets, do not need to have any skill to play. The rates of luck-based and skill-based gambling may be affected differently by economic conditions. This study looked at how luck-based and skill-based gambling were affected by an economic recession in Italy, which started around 2008.
The researchers found that economic conditions affected luck-based gambling. When unemployment rates were higher, people spent more money on luck-based gambling. This means that as the economy became worse, people spent more on luck-based gambling. However, economic conditions did not affect skill-based gambling. Thus, luck-based and skill-based gamblers react different to economic recessions.
