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One example of human stupidity -- Why do you buy more lottery tickets when jackpot is high?

rc5

Platinum Member
Oct 13, 1999
2,464
1
0
Regardless of how high the jackpot is, the odd to win is the same.
Regardless of how low the jackpot is, it's more than enough to keep you happy in the rest of the life.
Regardless of how high the jackpot is, you are still 1,000 times poorer than thousands of real billionaires.
Regardless of how low the jackpot is, you are 10 times richer than most people can earn in their life times.

So what's the point?
 

kassy

Guest
Sep 13, 2000
1,603
1
0
Because I am a stupid human and wish to prove otherwise by winning a sh*tpot of money.
Its a challenge I can't ignore.
 

Cerebus451

Golden Member
Nov 30, 2000
1,425
0
76
If the jackpot is only 1 million, the 20 year payout is less per year than my current salary. No good. If the jackpot is 10 million, I can think about retiring.

Of course, I wouldn't buy more if the jackpot is higher, I simply don't bother unless there is an insane payout. As for buying more tickets when the jackpot is higher, as per Demon-Xanth, the cost-reward ratio changes.

BTW, do people really buy more tickets themselves, or is it just more people buying tickets that accounts for the difference?
 

freebee

Diamond Member
Dec 30, 2000
4,043
0
0
The lottery is merely a voluntary tax contribution paid towards the state to help in various aspects of education, transortation, etc. People that participate in the lottery are simply donating money, (with the slim hopes of a payoff if they are lucky.) Just think of it as a donation, and the lottery doesn't seem so bad.
 

Radiohead

Platinum Member
Jun 16, 2001
2,494
1
0
Because I have like a 1 in 14 Million chance of winning... can't pass that opportunity down now :p
 

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