Indeed. Negative-sum games (like lotteries) are a form of consumption. From the player's perspective they should be compared to other forms of consumption like

Indeed. Negative-sum games (like lotteries) are a form of consumption. From the player's perspective they should be compared to other forms of consumption like buying a beer or a rollercoaster ride. You do it for temporary pleasure, not as an investment. Most players are fully aware of this, just as most beer-drinkers drink in moderation. (See Brenner, Brenner & Brown for more data.)