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I view lotteries as taxes on those that don't understand probability and money investing. That fits with those making that low of a salary. It's predatory, just
by Maxburn 4y ago
I view lotteries as taxes on those that don't understand probability and money investing. That fits with those making that low of a salary. It's predatory, just like payday and title loans.
- CamelCaseName 4y agoThis is often repeated, but perhaps players understand all that very well. Perhaps it is the condescending observer[0] who says "lotteries are a tax on stupidity" who does not understand the player's utility function. [0] (not OP specifically, but in general)
- acuozzo 4y ago> I view lotteries as taxes on those that don't understand probability and money investing. I did too until I realized what the purchasers of losing lottery tickets receive in exchange for their money: hope. They're purchasing the high of hoping for a better future; an escape into the dreams of riches.
- Maxburn 4y agoI don't know if false hope is helping anyone.
- Retric 4y agoThe fantasy of winning has non zero utility to players. Spending 2$ on a 400+ Million dollar prize can be fun up until the moment know you actually lost. I enjoy the experience enough to delay checking the numbers and thus savor the experience for significantly longer. Similarly I don’t particularly feel the need to regularly play as the occasional ticket is enough to keep the near zero possibility of a future win alive. Never playing on the other hand kills the fantasy. So in terms of what value I personally get from ~8$/year, lottery tickets are awesome.