Ha, well in your book. But once you buy a ticket, the $1 is sunk cost and you currently have $0 left of your $1. If you then get $1 from the ticket, you did "wi

Ha, well in your book. But once you buy a ticket, the $1 is sunk cost and you currently have $0 left of your $1. If you then get $1 from the ticket, you did "win" it and are $1 better off than you would have been if the ticket was not a winner. If you're willing to shell out the $1 in the first place, you should be happier winning $0.23 then being stuck with a losing ticket.