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algabana t1_iy0377n wrote

Reply to comment by 5abbingia in People who win the lottery make poor financial decisions because people who make good financial decisions don't buy lottery tickets. by DjHalk45

what if they buy them for the thrill and not because they expect to win? its not a financial decision its entertainment.

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5abbingia t1_iy03g4o wrote

I see your point, but the thrill comes from the expectation of winning, doesn't it? And that's an unreasonable expectation.

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PM_ur_Rump t1_iy06x62 wrote

It's unreasonable to say "I can give $2 to the lottery fund every few months, which goes to help support state programs, daydream a bit about being a millionaire, and not at all miss the money?" It's basically a donation with a chance of a payout.

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BetterFuture22 t1_iy07qao wrote

Yes, hence nickname of "poor people tax"

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PM_ur_Rump t1_iy09bx0 wrote

A voluntary donation is not a tax.

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BetterFuture22 t1_iy0oybr wrote

That's why I put it in quotes, clever one.

Let's be real, the vast majority of purchasers are people who don't have a lot of money - if they were better at math, they'd realize they're just throwing that money away.

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PM_ur_Rump t1_iy1jsi4 wrote

But it's not throwing money away. It's just spending money on something that they want to spend money on. Yes, if you are buying a bunch of tickets regularly, it quickly becomes a form of real gambling with terrible odds, but for most it's just a buck or two that doesn't really hurt them. No different than spending money on anything just because you want it. It's not an investment, it's just a game with a side of charity. "Poor" people are allowed to perform acts of charity too.

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heidismiles t1_iy0409u wrote

Have you never fantasized about being wealthy before? Are you from Earth?

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algabana t1_iy049e4 wrote

there is a chance of winning isnt there? it doesnt have to outweigh the cost to be thrilling

take it this way: i know that by buying $20 worth of tickets every week i will be losing on average $5 a week. on the other hand, every week theres a 10% chance i end up making $100, the thrill of that is an experience worth more than $5 according to me.

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5abbingia t1_iy092m5 wrote

But the chance is one on several thousands, not 10%

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algabana t1_iy098j1 wrote

doesnt matter, on average youre losing either way. the point is that the thrill may be worth the cost

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MooPig48 t1_iy07vgd wrote

Expectation? I don’t really think anyone has that expectation. Hope, sure.

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