Simply_Epic t1_iy0dcq1 wrote
Reply to comment by Tikithing in People who win the lottery make poor financial decisions because people who make good financial decisions don't buy lottery tickets. by DjHalk45
Someone on Twitter did the math and with the odds of winning at $1B it’s actually rational to buy 3 powerball tickets. No more, no less. Every lottery would have some threshold where it’s rational to buy 1 ticket based on the odds of winning and jackpot amount. Those people certainly aren’t doing the math, though.
Loki12241224 t1_iy0fidk wrote
That doesn't make sense to me. If the expected value of winning the lottery is greater than 1 than it should be rational to buy infinite tickets and if it's less than it's not rational to buy any. How did they come up with 3?
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