Submission Title
A System Thinking Model on the Sustainability of Online Betting Business in Taiwan Sports Lottery
Session Title
Session 1-1-E: Sports Betting
Presentation Type
Paper Presentation
Location
Park MGM, Las Vegas, NV
Start Date
23-5-2023 10:15 AM
End Date
23-5-2023 11:45 AM
Disciplines
Business
Abstract
A Systems Thinking Model on the Sustainability of Online Betting Businesses in the Taiwan Sports Lottery
Day Yang Liu , Chia Yang Chang
Abstract
The Taiwan Sports Lottery began in 2008 and has grown yearly ever since. Its sales are the sixth highest among the hundreds of other sports betting services worldwide. In the Taiwan Sports Lottery, there exists both stores and online platforms. In their early years, online betting businesses did not attract players and were opposed by most retailers running betting stores, leading to low profits. However, after several years, online betting businesses earned retailers’ support, and the number of patrons and sales have increased without affecting in-person betting businesses, thereby forming a model for successful online betting businesses. The development of online betting businesses for the Taiwan Sports Lottery is a complex, dynamic process affected by interaction among numerous factors. This study uses system dynamics to analyze factors related to the development of online betting businesses for the Taiwan Sports Lottery in terms of social exchange, innovation diffusion, and environmental conditions. Causal relationships among variables are examined, and a qualitative system dynamics model is created to analyze the development of online betting businesses for the Taiwan Sports Lottery. The results indicate that business operators and retailers must promote online betting businesses through trust and reciprocity, advertise, and utilize word of mouth and favorable environmental conditions. The results provide a reference for developing online sports betting businesses worldwide and promote the sustainable development of sports lottery.
Keywords
systems thinking; sustainability; sports lottery; online betting; social exchange theory; innovation diffusion theory
Funding Sources
I HAD WORKED FOR the sports lottery regulator in Taiwan for the past 20 years and this paper is part of Ph. D research I have supervised but not related to the research project funded by the regulator.
Competing Interests
none
Included in
A System Thinking Model on the Sustainability of Online Betting Business in Taiwan Sports Lottery
Park MGM, Las Vegas, NV
A Systems Thinking Model on the Sustainability of Online Betting Businesses in the Taiwan Sports Lottery
Day Yang Liu , Chia Yang Chang
Abstract
The Taiwan Sports Lottery began in 2008 and has grown yearly ever since. Its sales are the sixth highest among the hundreds of other sports betting services worldwide. In the Taiwan Sports Lottery, there exists both stores and online platforms. In their early years, online betting businesses did not attract players and were opposed by most retailers running betting stores, leading to low profits. However, after several years, online betting businesses earned retailers’ support, and the number of patrons and sales have increased without affecting in-person betting businesses, thereby forming a model for successful online betting businesses. The development of online betting businesses for the Taiwan Sports Lottery is a complex, dynamic process affected by interaction among numerous factors. This study uses system dynamics to analyze factors related to the development of online betting businesses for the Taiwan Sports Lottery in terms of social exchange, innovation diffusion, and environmental conditions. Causal relationships among variables are examined, and a qualitative system dynamics model is created to analyze the development of online betting businesses for the Taiwan Sports Lottery. The results indicate that business operators and retailers must promote online betting businesses through trust and reciprocity, advertise, and utilize word of mouth and favorable environmental conditions. The results provide a reference for developing online sports betting businesses worldwide and promote the sustainable development of sports lottery.