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PurpleGaga27

Who wants to be a billionaire?

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I guess some of you guys haven't heard or read already. For the very first time ever worldwide, nobody would doubt to play for a lottery jackpot worth billions. In the US of A, the record lottery jackpot has now reached at $1.3+ billion USD!!! The previous record was set at $656 million a few years ago.

 

I am afraid my luck just got slimmer.

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Lotteries are "rigged" (for lack of a better word) so that the prize value will never exceed the odds of winning. Therefore, it doesn't matter what record-breaking number has been hit, playing the lottery will always be stupid.

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The only time a business will pay out more then it rakes in if it is run by jeebus effing christ himself and he is turning water into dollah's. If not then imagine how much money they are raking in from lottery sales to be able to put out a pot of 1+ billion dollars.

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It's run by the government so it's not a business - at least in the traditional sense.

 

But yes, it is very lucrative for the government, the revenue taken in from lotteries often surpasses that of income taxes.

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Playing the lotteries is not stupid in itself.

What makes it stupid is your belief you can win and how much you spend to get there.

 

BTW I was once told the chances of winning the lottery are actually 50%.

You either do or you don't.

;)

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I was once told the chances of winning the lottery are actually 50%.

You either do or you don't.

Whoever told you that sounds like the type of person who would protest the Monty Hall Problem up until their final breath.

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Yes, as you can see here in this interview with world-renowned science high school teacher Walter Wagner: http://www.thedailyshow.com/watch/thu-april-30-2009/large-hadron-collider

It starts at the 2:35 mark.

 

^I'm on dial up speed, but this 2012 reddit thread mentions a link that I can't check out. But I'm curious about the content. To be fair, I believe I heard it mentioned as a joke on talk-back-radio. I take it as a humorous anecdote - nothing more.

 

However your Monty Hall problem was new to me, and fascinating...

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The link is dead. That Reddit thread was funny though.

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