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Yeah, the article fails to recognize that the lottery's returns are so poor because the government has a monopoly on them. At least private sector lotteries wo
by watchandwait 16y ago
Yeah, the article fails to recognize that the lottery's returns are so poor because the government has a monopoly on them. At least private sector lotteries would have to compete on payout levels.
- fh 16y agoNo, they wouldn't. All that they'd compete on is perceived payout. In other words, if you have private competing lotteries, they'd optimize the heck out of the feedback loop explained in the article, ruining people's lives even more.