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> Experts aren't entirely sure why "those who can least afford it play the most, Is this that irrational? With 1000 trials, probability of winning at least on
by bnegreve 11y ago
> Experts aren't entirely sure why "those who can least afford it play the most,
Is this that irrational?
With 1000 trials, probability of winning at least one time is 3*10^-6 which is low.
But what are the odds of becoming a billionaire given that your annual income is below $10,000?
- pdabbadabba 11y agoAssuming that one's goal is to become a billionaire, maybe Powerball is rational for people with low incomes. But is that a rational goal to have? Wouldn't a person be better off prioritizing more modest improvements to one's finances through other strategies with a high probability of success? That being said, not everything in life must be rational. If there are people out there who get a lot out of dreaming of becoming a billionaire and playing Powerball, I have no problem with it. But I do have a problem with governments praying on these aspirations to raise money.
- dragontamer 11y ago> But what are the odds of becoming a billionaire given that your annual income is below $10,000? Much much worse when you're spending all your money on lotto tickets. Its probably not a good idea to try to become a billionare. A millionare is within the realm of possibility, especially if you set your expectations to produce a millionare in your family over the next generation.