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You can't win the lottery
(lemmy.zip)
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this post was submitted on 10 Dec 2023
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Ah, so not only false hope but also crushing class consciousness.
Its not false hope, I'm aware that its stupidly unlikely but its not impossible. I dont think Ill ever win the jackpot but the idea that it could happen is worth $5 a week.
The idea that it could happen is false hope though, because you're buying into the idea that the chance is worth $5. The chance is so small it might as well be zero. So you're way over spending for a could that is practically a won't.
There are some situations with some lotteries where the math works in your favor because of for instance rollover. But if you're committed to $5 a week you're not that lottery player.
If you were to put $5 in S&P 500 weekly for a decade it is far more likely that you'll have a profit of a few thousand on top of the money that you did not spend on lottery tickets (because you still own the stock). That's not really as radically marxist as my previous comment might make me seem, but for your personal wallet it's way better.
In this economy if you want to become rich, the best thing is to start out rich. The next best thing is starting a company and pocketing the productivity of your employees. Back to that marxism thing again.
You are more likely to play your whole life and never win a significant amount, than you are winning once.
People who think they will get more out of it than they put in are delusional. Lottery is a business, only a small part of their earnings goes back into the pot.