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If you didn’t allow the legal lottery, there would be illegal ones all over. In “The Autobiography of Malcolm X”, Malcolm talks about how he won the local “numb
by monero-xmr 3y ago
If you didn’t allow the legal lottery, there would be illegal ones all over. In “The Autobiography of Malcolm X”, Malcolm talks about how he won the local “numbers game” a few times which is how he afforded his first suits. It was sort of like a bank for the unbanked, because the odds were good enough that someone would win eventually and then use it to buy big financial purchases.
Organized crime would run the illegal lotteries.
- buescher 3y agoI wonder how illegal lotteries compare to legal ones in terms of the expected return on a ticket and the frequency/size of winnings. I would expect legal ones can pay out less overall, and that less frequently, with larger (but rarer) prizes because they are better trusted.