decolored t1_iy0fdmt wrote
Reply to comment by ironicf8 in People who win the lottery make poor financial decisions because people who make good financial decisions don't buy lottery tickets. by DjHalk45
Ah, so the statistic is actually better worded: if you continue to play the lottery after winning, you are likely to continue to use that lottery winner wealth until you eventually win again, when compared with the average player. Yes indeed that is statistically logical and deceptive
Emu1981 t1_iy108w2 wrote
>if you continue to play the lottery after winning, you are likely to continue to use that lottery winner wealth until you eventually win again, when compared with the average player
Let's say the population is 100 million, you have 1 million lottery players* and of these 1 million lottery players, 1000 have won the jackpot. The ratio of jackpot winners to the general population is 1 in 100,000. If a single one of those jackpot winners wins the jackpot again then the double jackpot winner to single jackpot winner ratio is equal to 1 in 1,000. This means that despite having just a single double jackpot winner, the double jackpot winner is statistically 100 times more common in the jackpot winner population than the single jackpot winner is in the general population.
Note: I have no idea what percentage of the population has actually won a jackpot, the numbers provided are just guesses that let me show what I am getting and to do the maths easier.
*edited to hopefully make some sense looks for his coffee*
*I could probably just remove the reference to the percentage of the population that plays the lottery as it isn't really used at all.
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