5 ms·
Nah, just require them to disclose the odds for any games of chance. "Visit Golden Palace photo of a roulette wheel for a 46% chance of breaking even!"
by danudey 10y ago
Nah, just require them to disclose the odds for any games of chance.
"Visit Golden Palace photo of a roulette wheel for a 46% chance of breaking even!"
- pmiller2 10y agoWouldn't help. Lottery tickets have the odds of winning printed right on them, and people still buy them.
- matthberg 10y agoIn small print, though. That is the main issue, people see the possible winnings before any odds are considered.
- semi-extrinsic 10y agoCompounding/causing this issue is people in general don't take expectation values into account - we always subconsciously overestimate the probability of a rare, positive event (winning the lottery) and underestimate the probability of a rare, negative event (dying in a car crash tomorrow).
- adrianN 10y agoSpending ten bucks on a lottery ticket doesn't hurt most people while winning the lottery can have a live-changing impact. Every action is rational for a properly chosen value function.
- malnourish 10y agoYep. I'll spend 8-16 bucks a month on lottery tickets. It's what I use spare cash left in my wallet for. It's not going to break the bank and I'm likely not going to win, but it's a nice pipe dream and where I live a decent amount of the money goes to the environment.
- rarec 10y agoPlaying the lottery is more paying for the fantasy of winning than actually expecting to. It makes for some fun office chats, and worth a couple of extra bucks.
- tomc1985 10y agoWouldn't that be cool if it created a competitive market where casinos advertised their house advantage?
- anigbrowl 10y agoOne of them does around here. The one that always amuses me is '05% payout on slots'. I like to imagine some nice people handing a crumpled up $100 to a cashier and getting nice crispy bills in return totalling $95.