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01-03-2013, 11:01 PM
  #11
StoneColdFlower*
El Sid
 
Join Date: Apr 2010
Country: Canada
Posts: 539
vCash: 500
Quote:
Originally Posted by IU Hawks fan View Post
Lottery: The tax on the mathematically challenged
It's a little bit more complicated than that. From a pure expected value concept, this is almost always true. With the exception of certain progressive jackpot lotteries, you will lose an infinite amount of money if you played a lottery or a scratch ticket an infinite number of times. From an expected utility perspective, however, winning a $10 million lottery jackpot will help you more than the $5 a week you spend on tickets will hurt you, assuming you play responsibly. I rarely play lotteries because I prefer playing poker (as well as other card or dice games) when I have the urge to gamble, and I find it more stimulating to play against people rather than against a house, which is why I don't set foot in casinos even though I'm all for having one in Ottawa proper.


Last edited by StoneColdFlower*: 01-03-2013 at 11:48 PM.
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