THE CONTRIBUTION OF SPORT BETTING TO THE SOUTH AFRICAN GROSS DOMESTIC PRODUCTS
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- NGN 3000
Abstract
An attempt was made to determine the relationship between the revenue made in sport betting within South Africa and the country`s gross domestic product. The aim was to determine whether sport betting is a significant contributor gross domestic product comparing to other GDP contributors. Sport betting is deemed to be addictive and not good for public, however, it has been growing dramatically for the past few decades and its involvement in economic activities has been noticeable. The OLS method was used to generate the regression results and autocorrelation and heteroskedasticity were carried out. The analysis and interpretation of results indicated sport betting is not a significant contributor to GDP but has a positive relationship with GDP.
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