Wednesday, January 25, 2012

Yet another reason that lottery tickets are a waste of money

It’s often said that the lottery is a tax on people who can’t do math.� It’s virtually guaranteed that you’ll lose money playing the lottery regularly, because the more you buy, the closer you’ll be statistically to the intended winning probabilities (i.e., losing more than winning).� Even casting lottery tickets as an investment is flawed; [...]

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