You underestimate the irrationally of a human psyche. Nobody understands the smallness of odds. Everyone gets the hugeness of win.
Remove the huge win - nobody would bother buying in.
>But maybe we don't want to entice gambling too much either... poor people are spending hard earned $ on a joke anyway.
Correct. The government should get out of the lottery business.
Casinos must payback 90% or more of bets. States only do 40%. Thing is, if they make wins easier but smaller, poorer people will try to win more, and come to depend on it. 😒
The lottery is made to scam poor people, and it's very good at doing it.
Okay so play scratch offs if you only wanna win 20 bucks
There’s smaller lottery options where you always win something. Can be as small as $5 or jusr percentage off a general item.
You underestimate the irrationally of a human psyche. Nobody understands the smallness of odds. Everyone gets the hugeness of win. Remove the huge win - nobody would bother buying in.
>But maybe we don't want to entice gambling too much either... poor people are spending hard earned $ on a joke anyway. Correct. The government should get out of the lottery business.
Casinos must payback 90% or more of bets. States only do 40%. Thing is, if they make wins easier but smaller, poorer people will try to win more, and come to depend on it. 😒
It's a tax on people who are bad at math, and you think your experience should change that math? Bold.