3 ms·
This is a great article on the mindset of people who play lottery. http://www.gurujeff.com/?p=132 http://www.gurujeff.com/?p=132 But what's most striking to m
by smokinn 17y ago
This is a great article on the mindset of people who play lottery.
http://www.gurujeff.com/?p=132 http://www.gurujeff.com/?p=132
But what's most striking to me is how much of a rip-off the government-run lotteries are. It's very unethical. It's so unethical that even when the mafia was running it back in the day they were more honest.
From the article:
Statistically over several hundred turns, if you play a decent game of blackjack or craps, you put up one dollar and get back 95-97% of your money.
Due to the fluctuations of probability, it will appear as though you’re either winning or losing larger amounts.
Roulette, slots, sports games and horse races are geared to take 5-25% of every dollar wagered - and to most knowledgeable gamblers, 25% is too much.
Even the mafia, when they ran numbers, would take no more than 33 cents on the dollar.
State lotteries are just an out right plain as day rip off taking over half the money you put in.
What about the Super Jackpot Lotteries?
The “Power Ball” or 6/49 games - whatever they’re called in different parts of the country - are all run the same.
You buy a ticket for a dollar; less than 40 cents goes back into the prize pool.