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There was a great article about lotteries, which included this:
The worse the odds of winning became, the more people wanted to play. Alexander Hamilton was right: to the average person, the difference between one-in-three-million odds and one-in-three-hundred-million odds didn’t matter, but the difference between a three-million-dollar jackpot and a three-hundred-million-dollar jackpot mattered enormously. Recognizing this, lottery commissioners began lifting prize caps and adding more numbers—say, six out of fifty instead of five out of thirty—thus making the likelihood of winning even smaller. The New York Lotto launched, in 1978, with one-in-3.8-million odds; today, the odds are one in forty-five million. https://www.newyorker.com/magazine/2...ng-the-lottery
Hamilton could never have conceived of hundreds of millions for a person.
His actual quote is: "everyone “would prefer a small chance of winning a great deal to a great chance of winning little.”"
There was a great article about lotteries, which included this:
The worse the odds of winning became, the more people wanted to play. Alexander Hamilton was right: to the average person, the difference between one-in-three-million odds and one-in-three-hundred-million odds didn’t matter, but the difference between a three-million-dollar jackpot and a three-hundred-million-dollar jackpot mattered enormously. Recognizing this, lottery commissioners began lifting prize caps and adding more numbers—say, six out of fifty instead of five out of thirty—thus making the likelihood of winning even smaller. The New York Lotto launched, in 1978, with one-in-3.8-million odds; today, the odds are one in forty-five million. https://www.newyorker.com/magazine/2...ng-the-lottery
NYLotto has much better odds than Mega or Powerball. My neighbor is related to a NYLotto multi-millionaire who won twice and my other neighbor is a NYLotto mullt-millionaire. There have been others in my neighborhood who won NYLotto. What about the recent winner of a 10 million dollar scratch-off in Queens, this is the second time in 4 years he won on a 10 million dollar scratch-off! I read he's giving away money in $50,000 increments to those in need.
So the lottery hasn't been bad news for all New Yorkers!
NYLotto has much better odds than Mega or Powerball. My neighbor is related to a NYLotto multi-millionaire who won twice and my other neighbor is a NYLotto mullt-millionaire. There have been others in my neighborhood who won NYLotto. What about the recent winner of a 10 million dollar scratch-off in Queens, this is the second time in 4 years he won on a 10 million dollar scratch-off! I read he's giving away money in $50,000 increments to those in need.
So the lottery hasn't been bad news for all New Yorkers!
Yeah, my gambling addict friend tells me he wins more than he loses all the time.
Yet idiots line up every Friday with their paycheck hoping to win the damn pipe dream.
If only they invested at a steady pace they would retire very well. Even crypto is a better lotto and crypto is a pyramid scheme.
I often wonder what these morons would do with all the millions. Probably be broke within years.
Agree 100%. I don’t understand why people run out and buy lottery tickets. Even when jackpots are at all time highs, everyone runs out and buys a ticket. Everyone’s reason being, “well there are people that DO win the lottery and you never know, it could be me.”
Don’t people realize that the reason these jackpots are so high is because there are millions upon millions of people playing and losing?? Your odds of winning are next to nothing!
Why not just take all your savings in the bank and buy a lot of lottery tickets with it? With the thousands upon thousands of tickets you will buy with all your money, one of them is bound to win. Think of it as an investment as opposed to gambling.
I have yet to purchase a losing lottery ticket this year. I pulled off the same amazing feat last year also.
FWIW, in my early 20s, I was in the employment of 1 of the newly minted NJ casinos. I have a lot of coworkers flat broke 3 days after payday due to the inability to walk away from the tables. I learned from their bad examples. I worked too hard for my money to hand it back over to my employer in a few hours.
Yet idiots line up every Friday with their paycheck hoping to win the damn pipe dream.
If only they invested at a steady pace they would retire very well. Even crypto is a better lotto and crypto is a pyramid scheme.
I often wonder what these morons would do with all the millions. Probably be broke within years.
I haven't seen actual television ads in other cities the way we have in NYC. I wonder if that influences purchases.
I haven't seen actual television ads in other cities the way we have in NYC. I wonder if that influences purchases.
More fools here.
Give them hope and take away their reasoning. That’s the design. Not just with lotto too. That extends to all the pro sports on tv and whole lot of other distraction. A fool must be kept a fool or else he could be a problem.
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