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You're basically losing money if you don't
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this post was submitted on 11 Oct 2023
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Lottery and gambling are taxes on emotionally weak people who can't do math.
Lotteries unique selling point is hope.
Isn't it telling that our society has to gamble on hope because there is a perception of no other chance?
Sure, but the hope is a result of the first two issues.
They can't do the math so they think there is a chance. And because they WANT there to be a chance they ignore every time they lose.
I know you have a point, a good one, Lotteries cater to the vulnerable etc. - but you are wrong in one aspect: There are winners, in every lottery, and that's what fuels the hope.
Even small chances are chances. It's that simple ;)
When did I say there weren't any winners? I said people think there's a chance that they might win personally. And you can state the gamblers fallacy any way you like, the fact that there are winners in a lottery has nothing to with the chances of winning personally. Bad at math, bad at logic, too emotional, call it anything you like. Any hope is a result of these flaws, not the cause.
https://www.palomar.edu/users/bthompson/Gambler%27s%20Fallacy.html
Probably more likely to turn 20$ into a fortune playing the lottery than most other ways you could invest it.
Honestly, chances might be extremely low. But if all it takes is a couple of bucks sometimes to maybe win even 1000, I'd take it.
They know, that's their target audience. Desperate people.
Manny Calavera, travel agent.