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Motown_Johnny

(22,308 posts)

22. there are other lottery games with smaller payoffs

Reply to Earth_First (Original post)

Fri Mar 30, 2012, 11:30 PM

Mar 2012

such as you describe

Mega Millions is, well.... Mega Millions. It requires huge payoffs to justify spending money on a 1 in 176,000,000 chance of winning.

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23 replies

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Could someone explain why this wouldn't work? [View all] Earth_First Mar 2012 OP

Because not as many people are going to buy tickets for a $1 million payout onenote Mar 2012 #1

People aren't logical when it comes to lotteries Lydia Leftcoast Mar 2012 #2

THE LOTTERY IS A CON JOB REGRESSIVE TAXATION HowHasItComeToThis Mar 2012 #3

EXACTLY!!! lastlib Mar 2012 #6

are you saying 500 million dollars wouldn't get a person out of poverty? bowens43 Mar 2012 #7

No--I'm saying that the probability of winning it is so infinitesimal lastlib Mar 2012 #8

Your odds at winning nykym Mar 2012 #13

I rather liked the way the eTrade commercial put it... LadyHawkAZ Mar 2012 #18

My Econ 101 and my Statistics teachers both called it "The Idiot Tax".... slampoet Mar 2012 #20

If they really understood lotteries, they would never play. lastlib Mar 2012 #4

Their odds are increased quite a bit. 100 fold in fact. EOTE Mar 2012 #12

That's what I meant Lydia Leftcoast Mar 2012 #14

First of all, why is it "obscene"? A HERETIC I AM Mar 2012 #5

Because it takes massive resources away from many and... lastlib Mar 2012 #10

Somewhat smaller payouts have always made sense to me. MissMarple Mar 2012 #9

Like we need 540 new people switching party allegiances? GopperStopper2680 Mar 2012 #11

Not all millionaires are Republicans. boxman15 Mar 2012 #21

I bought one today EC Mar 2012 #15

I'm gaining on you. lastlib Mar 2012 #16

Under your system fewer people would play. GreenStormCloud Mar 2012 #17

There are state lotteries with lower payouts and better odds Nikia Mar 2012 #19

there are other lottery games with smaller payoffs Motown_Johnny Mar 2012 #22

I gave this thread a rec (it's the thought that counts) but I'd also rec your point even moreso. Zalatix Mar 2012 #23