How far would you agree that the lottery is 'a tax on people who are bad at maths'?

Question

How far would you agree that the lottery is 'a tax on people who are bad at maths'?

Answer 1

the lottery is kinda for the suckers in terms of the edge but generally people don't spend more than a few bucks on a ticket so in terms of true cost, its little more than a can of coke and usually gives a little more utility than a can of coke so its not so uneconomical.

Heres the thing though people are paying the house edge across the board. Medical insurance has a much much worse house edge than casino games like blackjack and roulette. It would make more sense to self insure but theres not a big culture of organising self insurance... so. anyways what I mean is that you need to allow for the rationality and free choice rights of individuals and let them do what they want with their money.

Answer 2

yes, i would agree 100%. explanation is too long to get into here, but basically people who are bad at math don't understand the value of a dollar...or 1%, or compound interest.

Answer 3

Wouldn't agree at all. Lottery is not obligatory, one plays it or not. Tax is obligatory, one pays it or goes to jail. Thus lottery cannot be like a tax.

Answer 4

Up until my own involvement becomes relevant.

Answer 5

never heard of that. its usually "tax on poor people"

Answer 6

not at all, it's just gambling, the people know it's against the odds to win it but people do win it....what really gets me though is people who say "you've got to get a ticket tonight cos it's a rollover!" your kidding right! cos £5 million isn't worth it but £10 million is???? err okay....

Answer 7

Revise your thoughts by visiting

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