Tuesday, February 4, 2014

The Real Odds of Winning a Lottery



Folks buy lottery tickets because of the tremendous "payoffs." The politicians behind the sales know it.

If the payoff is 60 cents on the dollar, the buyers don’t seem to care. Most would buy lottery tickets if the payoff were 10 cents on the dollar.

And I haven’t yet considered the added bite of income taxes, to make  the lottery a joke for its players.(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)

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