4 ms·

Being raised in what I believe to be one of these communities this feels very true. In Pennsylvania this supposedly supports seniors, but seniors often are the

Being raised in what I believe to be one of these communities this feels very true. In Pennsylvania this supposedly supports seniors, but seniors often are the ones gambling. The most frequent shops for selling lottery tickets are also tobacco stores. I find it hard to resist a scratch off from time to time myself. I don’t know what the solution is, I know it gives people hope and excitement. Even if they think it’s impossible to work themselves out of debt they hope they’ll “win big” one day keeps them going to an extent. It’s really just another version of the “Marshmallow Question” just with adults instead of kids. You could write it all down for them and spell it out, but to them the math wouldn’t work out.

HWR_14 4y ago
> I find it hard to resist a scratch off from time to time myself. As long as you aren't doing it to win but instead to enjoy yourself gambling, and you do it with disposable income, this is fine. Don't beat yourself up for enjoying something mathematically suboptimal. > Even if they think it’s impossible to work themselves out of debt they hope they’ll “win big” one day keeps them going to an extent. It’s really just another version of the “Marshmallow Question” On the contrary. With the Marshmallow Question, you know you'll be rewarded. In this situation you do not think you will be rewarded. If the Marshmallow Question was "do you want this Marshmallow, or do you want it thrown away", that would be a better example. At least, in the mind of the players > but to them the math wouldn’t work out. It's entirely possible the math doesn't work out. A negative EV is significant if we are playing a game where the purpose is to increase my bank balance, but it's entirely possible that for various reasons that doesn't apply IRL.
- notjulianjaynes 4y ago
  >As long as you aren't doing it to win but instead to enjoy yourself gambling What exactly is there to enjoy about a scratch ticket beyond the hope of winning?
  - deleted 4y ago
    [deleted]
  - HWR_14 4y ago
    > What exactly is there to enjoy about a scratch ticket beyond the hope of winning? There's "buying it for the adrenaline rush of possibly winning, and scratching it hoping to win" and "buying it because you're due/you feel lucky/you really need the money". As long as you are buying the thrill of the chase and the occasional great feeling of winning, you're fine. It's an experience and comes out of that mental budget. If you're buying it because you really want or believe that $500 from the scratcher is coming to buy your baby new shoes, it's an issue. I hope that makes some sense. Basically, do you understand your EV is negative/realistic odds of winning are negligible but are buying it anyway?
- Falkon1313 4y ago
  No. It's more like "Do you want one single marshmallow, which might bring you a few brief seconds of pleasure - in the unlikely chance that the dog doesn't eat it first or it doesn't get covered in ants first? Or would you rather have a one in a million chance of having as many marshmallows as you want, whenever you want, for the rest of your life, with no more worries about the dogs or ants because there'd be plenty for the dog and you would never have ants anymore?"
  - mrguyorama 4y ago
    Except the odds are never NEARLY as good as one in a million, and humans have a well documented inability to fairly judge odds and understand large numbers. Would the lottery be nearly as exciting for people if they had a genuine understanding for the statistics involved? I don't mean that they've seen the math, but that you can feel in your gut just how impossible it is to "win" the lottery
landemva 4y ago
> what the solution is No loss lottery run by local bank or credit union would be a good start. https://freakonomics.com/podcast/is-america-ready-for-a-no-lose-lottery-update https://freakonomics.com/podcast/is-america-ready-for-a-no-l... https://pooltogether.com https://pooltogether.com
- yawnr 4y ago
  Yotta does this in an FDIC insured account btw

HWR_14 4y ago

> I find it hard to resist a scratch off from time to time myself. As long as you aren't doing it to win but instead to enjoy yourself gambling, and you do it with disposable income, this is fine. Don't beat yourself up for enjoying something mathematically suboptimal. > Even if they think it’s impossible to work themselves out of debt they hope they’ll “win big” one day keeps them going to an extent. It’s really just another version of the “Marshmallow Question” On the contrary. With the Marshmallow Question, you know you'll be rewarded. In this situation you do not think you will be rewarded. If the Marshmallow Question was "do you want this Marshmallow, or do you want it thrown away", that would be a better example. At least, in the mind of the players > but to them the math wouldn’t work out. It's entirely possible the math doesn't work out. A negative EV is significant if we are playing a game where the purpose is to increase my bank balance, but it's entirely possible that for various reasons that doesn't apply IRL.

notjulianjaynes 4y ago
>As long as you aren't doing it to win but instead to enjoy yourself gambling What exactly is there to enjoy about a scratch ticket beyond the hope of winning?
- deleted 4y ago
  [deleted]
- HWR_14 4y ago
  > What exactly is there to enjoy about a scratch ticket beyond the hope of winning? There's "buying it for the adrenaline rush of possibly winning, and scratching it hoping to win" and "buying it because you're due/you feel lucky/you really need the money". As long as you are buying the thrill of the chase and the occasional great feeling of winning, you're fine. It's an experience and comes out of that mental budget. If you're buying it because you really want or believe that $500 from the scratcher is coming to buy your baby new shoes, it's an issue. I hope that makes some sense. Basically, do you understand your EV is negative/realistic odds of winning are negligible but are buying it anyway?
Falkon1313 4y ago
No. It's more like "Do you want one single marshmallow, which might bring you a few brief seconds of pleasure - in the unlikely chance that the dog doesn't eat it first or it doesn't get covered in ants first? Or would you rather have a one in a million chance of having as many marshmallows as you want, whenever you want, for the rest of your life, with no more worries about the dogs or ants because there'd be plenty for the dog and you would never have ants anymore?"
- mrguyorama 4y ago
  Except the odds are never NEARLY as good as one in a million, and humans have a well documented inability to fairly judge odds and understand large numbers. Would the lottery be nearly as exciting for people if they had a genuine understanding for the statistics involved? I don't mean that they've seen the math, but that you can feel in your gut just how impossible it is to "win" the lottery

landemva 4y ago

> what the solution is No loss lottery run by local bank or credit union would be a good start. https://freakonomics.com/podcast/is-america-ready-for-a-no-lose-lottery-update https://freakonomics.com/podcast/is-america-ready-for-a-no-l... https://pooltogether.com https://pooltogether.com

yawnr 4y ago
Yotta does this in an FDIC insured account btw