Re:Lottery-Like Prizes Coax Savings. What’s the Risk in Expa...
by breck on Friday December 21, 2018 @08:09PM
(#18738190)
A little over ten years ago I cofounded a startup in Boston that was attempting to do something along these lines. We couldn’t believe how much money people were spending on such a bad investment. We were going to sell our own scratch tickets that had a positive EV. You’d scratch a ticket and reveal a code which could be redeemed for a fractional share(s) of stock in one of a basket of companies. The hope is we’d come close to the entertainment value while at the same time helping people save and earn a massive jump in ROI over regular scratch tickets (which paid 50 to 85% or so). The numbers would work at scale if people liked it. We weren’t the right people to do it, but I hope other people someday will offer something similar. Stockcards is something a little close to it, which is cool to see.
[ Parent
| on HN ]
Re:Lottery-Like Prizes Coax Savings. What’s the Risk in Expa...
by SilasX on Friday December 21, 2018 @09:16PM
(#18738483)
Amazing! I had a similar idea, which was to simulate lottery tickets by selling shares of far-out-of-the-money options. They would rarely pay out, but when they do, it would be a lot.