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I had an argument with my boss about this. He is a business owner and pretty successful one, and he calls the lottery a poverty tax, or a stupidity tax. If it w
by Miserlou57 4y ago
I had an argument with my boss about this. He is a business owner and pretty successful one, and he calls the lottery a poverty tax, or a stupidity tax. If it were a game you play in Vegas, then he’d be right.
It’s my opinion that just buying one ticket, for say $2, essentially is a trivial and inconsequential amount of money that exposes you to incredible upside. Imagine if the ticket only cost a penny. At that point it’s practically free, but free exposure to life changing wealth. I don’t know if that counts as zero to 1 according to Peter Thiel, but it’s basically zero to something, for essentially nothing
- hamiltonians 4y agobut it does not cost a penny, hence strongly negative expected value and waste of money and time.
- tracerbulletx 4y agoThere are sometimes jackpot sizes that have a positive EV.
- aaaaaaaaata 4y agoWhat about the people who do hundreds in instant lottery, or dozens to hundreds of dollars every week for the standard games (and no, they aren't ALL pooled for a frigging office).