schnurrito@discuss.tchncs.de 14 hours ago
… they are in my country, at least for people who want to attend a university.
I realize myself that the lottery is a tax on lack of statistical knowledge. I still occasionally play it because if I don’t play, then the probability of winning (and never having to work for money again) is 0, and I can easily afford to occasionally buy a lottery ticket.
This is why probability needs to be taught, and taught properly. This line of logic clearly demonstrates the problem.
Your expected return from not playing a $5 ticket is exactly $0.00.
Your expected return from playing a $5 ticket is approximately $-4.99
“Gaining Zero” is vastly preferable to “Losing Five”.
If you can occasionally afford a $5 ticket, you can occasionally afford to buy shares of an index fund. You’re still gambling, but your expected return is positive.
I realize that, academically.
I feel that what I am buying with a lottery ticket is a few days of allowing myself to imagine what my life might be like if I win.
And I invest vastly more of my money than I buy in lottery tickets.
TheWeirdestCunt@lemmy.today 14 hours ago
Where I am the lottery funds a lot of smaller museums and some other community things like that so in my mind when I buy a lottery ticket I’m donating money to those causes rather than just trying to win.