When the jackpot reaches $582M, the expected value of playing is $2. This justifies buying a ticket. So, I do.
The powerball jackpot once reached a record $1.5B. I splurged and bought 5 tickets. Of course, there are additional considerations at these astronomical levels because billionaires can buy a ticket for every one of the 292,201,338 outcomes and possibly share the prize with few enough people to cover the money lost on taxes. Game theory may help solve these first world problems. But, dollar cost averaging into the stock market makes more sense for upper middle class people like many of us.
Have you ever purchased lottery tickets?
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When the jackpot reaches $582M, the expected value of playing is $2. This justifies buying a ticket. So, I do.
The powerball jackpot once reached a record $1.5B. I splurged and bought 5 tickets. Of course, there are additional considerations at these astronomical levels because billionaires can buy a ticket for every one of the 292,201,338 outcomes and possibly share the prize with few enough people to cover the money lost on taxes. Game theory may help solve these first world problems. But, dollar cost averaging into the stock market makes more sense for upper middle class people like many of us.