4 ms·
But the average lottery player doesn't spend $5/year on lottery tickets. Those with a income < $10,000 a year and who play the lottery spend an average of $597
by nerfhammer 11y ago
But the average lottery player doesn't spend $5/year on lottery tickets.
Those with a income < $10,000 a year and who play the lottery spend an average of $597/year
table 10:
http://govinfo.library.unt.edu/ngisc/reports/lotfinal.pdf http://govinfo.library.unt.edu/ngisc/reports/lotfinal.pdf
- tempestn 11y agoTrue. And certainly buying more than one ticket for a given draw makes very little sense. One ticket gives you basically all the enjoyment of knowing you might win, which has value even aside from the fact that you might actually win. Beyond that though, all you're doing is spending money with negative expectation.
- mark-r 11y agoI always buy two tickets, because I like doubling my odds. Beyond that I don't see the point. And I don't buy until the jackpot becomes larger than the overall odds, making the expected payout somewhere in the neighborhood of 1:1.