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

[rc5]

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]

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.

 

[Yo Ma Ma]

I don't buy them, regardless.

 

[Elledan]

Greed mixed with the average intelligence of a Human being.

 

[Demon-Xanth]

The risk/reward ratio changes.

 

[Cerebus451]

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?

 

[dawks]

I dont buy lottery tickets period.

 

[ManSnake]

So what's the point?

Maybe people want to win free money?

 

[freebee]

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.

 

[Bleeding Jawa]

It's the American Dream.

 

[Radiohead]

Because I have like a 1 in 14 Million chance of winning... can't pass that opportunity down now

 

[charrison]

The lottery is nothing more than a tax on people that are bad at math.