Why do poorfags purchase lottery tickets?

Why do poorfags purchase lottery tickets?

There are more fun ways to gamble your money.

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

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.

This tbqh

You'll never find a math teacher who buys tickets

Ever seen the movie GoodWill Hunting?

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.

>to fund education

Ha.

Just like cryptocurrency :^)

PIVX is my lottery ticket.

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

It's not high risk lol.

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

>high risk

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.

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.

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

>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.

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?

meant more for

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.

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

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

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

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

exactly how i feel with cryptotrading and penny stocks.

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.

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

There is absolutely zero return if you don't win

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

>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.

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.

This.

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.

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

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.

fuck ive done this with almost all my lotto tickets

But who plays $1 in a lottery?

You'll never win that way...

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.