all 6 comments

[–][deleted] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (1 child)

The lottery is statistically a bad investment. It makes revenue for the state, and is a losing proposition for the player. Lottery tickets cost more than the expected value of the ticket (E.G. $1 buys a 1/100Million chance at $50 millions dollars, the expected value is $0.50, but you payed $1.00). The only time this isnt the case is in the instance of powerball where the number gets really high because nobody wins. Even then, the Law of Diminishing Returns makes this not a great investment. I.E. It is better to have a 1/50 milllion chance at $50M then a 1/500million chance at $500M, because a poor person getting 50M is more life changing than someone with 450M getting another 50M.

I wont win the lottery because it is a suckers bet, and I will not play

[–]IndianaJones[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Yeah, quite true.

[–]Anman 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (0 children)

Just watched an old episode of QI recently that saidyou are over 1000 times more likely to die each day, than win a top end lottery.

[–]yelgy 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (2 children)

gambling is dope. you will win if you truly believe

[–]IndianaJones[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

Oh man, I really really want to.

[–]yelgy 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

just believe it