Once a lottery like Mega Millions has a high enough jackpot so that the expected value of the ticket is higher than the cost, why does it still feel like it’s a bad investment to buy a ticket?
In: 1
The Lottery is often referred to as ‘The Idiot Tax’ for a reason.
The probability of winning is so low, even when the jackpot is incredibly high, as to not make it worth while to ever buy a ticket.
Statistically speaking the most financially sound way to win at the lottery is to never play in the first place.
That and the fact that winning the lottery is probably one of the quickest, most surefire ways to ruin your life. The majority of lottery winners lose their extended families and friends, get taken advantage of and robbed, burn through the money far too quickly, and after a few years of insane living end up in a worse position they started in or end up dead.
Latest Answers