PROMETHEUS BOUND: RELEASING THE CHAINS ON PARI‐MUTUEL GAMBLING

This paper argues that although there is some evidence that pari‐mutuel gambling may have efficiency, transparency and other significant benefits over and above bookmaking, the fact that most pari‐mutuel systems exist as protected national monopolies has restricted consumer choice in many of the world's gambling markets. It has also artificially restricted the size of these markets to the disadvantage of both consumers and tax authorities.