Why do poorfags purchase lottery tickets? There are more fun

Cheap, Easy and everyone's doing it! everyone's excited about it!

Lol even worse i buy tickets and completely forgot about them then find them and just throw them away

>>1956000
It's a high risk, high reward investment. And if you don't play, you'll never win.

They like the idea of being able to get rich.

You buy some hope.

>>1956030
This tbqh

You'll never find a math teacher who buys tickets

>>1956094
Ever seen the movie GoodWill Hunting?

>>1956000
Eh, I'll buy a few tickets a year when the jackpot is really high. I doubt I spend even $10 on lottery tickets in a given year so it's not like I'm wasting a significant portion of my salary or anything.

I really enjoy that the revenue from lottery tickets goes to fund education.

>>1956244
>to fund education

Ha.

>>1956019

Just like cryptocurrency :^)

>>1956000
PIVX is my lottery ticket.

>>1956000
The education lotteries are really quite genius. The jews actually figured out a way to make niggers fund their own schools.

>>1956019
It's not high risk lol.

Lotterys are dumb yeah, but your money (in the UK atleast) does go towards good causes and charities.

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>>1956019
>high risk

>>1956000
You pay for insurance in the rare case something bad happens to you.

Why not pay for insurance that is kinda the opposite.

You pay for a chance to win.

>>1956094
Well they're pretty stupid because a $1 ticket is an immaterial loss for the potential life changing results despite the infinitesimally small chance of winning.

>>1956498
The difference is I made $10k off crypto in under 4 months

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>dont smoke
>hardly ever drink

>throw $5 a week away with a slight chance of winning a few million dollars

Cant hurt. I could be doing far worse things with that $5.

>>1956000
If you don't buy a ticket you'll never be on the boat if it leaves.

Why not?

If you buy one 5$ lottery ticket a week for 50 years you'll spend a total of 13,000$ over the entire period. Assuming you win at the very least a 1 million "lottery" I'd say the risk/reward ratio is very high.

Are you too poor to afford 5$/week?

>>1957938
meant more for
>>1956094

Oh also I should point out how fucked the lottery is in the US.

If you win $50,000,000 jackpot, they make you declare that as income, and tax the fuck out of you, taking like half of it for the state.

If you win $50,000,000 in Canada, you get to keep it all, and dont have to declare any of it as income.

>>1957938
But in reality you'll never win and be out $13,000.

>>1957947
If you buy one ticket every week for 50 years you'll buy a total of approximately 2605 tickets.

Assuming each of those tickets has the listed odds of 1 in a million you'd have an overall odds of 1:.002605 to multiply your 13,000$ by 78.92x or a risk:reward ratio of approximately 1:383

>>1957938
But there are better ways to gamble, and more fun ones as well.

>>1957974
also:assuming the risk:reward works out as delineated; you'd win a "lottery" once every 7 years or so

>>1957929
exactly how i feel with cryptotrading and penny stocks.

>>1957974
But your odds are actually more like 1 in 300 million and even if you buy a ticket every week they will always be 1 in 300 million. They don't pull the previous winning number sequences from the list. Just because you bought those numbers previously and they didn't hit doesn't make them more likely to hit next time.

>>1958054
the odds of losing are independent but compound probability works in the same way on the downside as the upside: the more you try, the more likely you are to win

according to the probability you'd payout approximately once every 7 years with a "jackpot", and the lower the "jackpot" the higher the odds are exponentially. my numbers are actually an extreme lowball, assuming no double purchases or odds scanning. you can only get better odds from what I've gleaned actually

>>1956529

There is absolutely zero return if you don't win

Just because the cost per ticket is low doesn't change the risk

>>1956019
>It's a high risk
It's like $2 per ticket

Not high risk, high reward.
It's a high reward """investment""" with a negligible chance at success.

>>1956019

It's only high risk if you spend the rent money on it and if you spend the rent money on it, you're going to be homeless.

>>1958380
This.

>>1957585
Because the purpose of insurance is to hedge against risk, i.e. the volatility of your future wealth. Buying lottery tickets does the opposite to this.

>>1958080
Risk doesent depend on the amount you invest you dumb turbonigger.

>>1959539
Yes it does.

Let's say I invest a million bucks in something. If I lose that money it would have a devastating impact on me and my family. Therefore, the risk is pretty high.

Now, a lottery ticket costs 10 bucks at worst. If I lose that money, it's no big deal, life carries on as usual. Therefore, the risk is very low.

>>1956018
fuck ive done this with almost all my lotto tickets

>>1957916
But who plays $1 in a lottery?

You'll never win that way...

>>1958061
That's not how it works. Kek

The psychological effect of envisioning your dreams with the unlikely win are worth the 1 or 2 bucks.