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Re:Insurance is like gambling, don't overdo it by chewz on Sunday June 20, 2021 @05:22AM (#27568446)
Utility function of big lottery win is way larger then of string insignificant looses. For most people.

https://en.m.wikipedia.org/wiki/Utility

Re:Insurance is like gambling, don't overdo it by IkmoIkmo on Sunday June 20, 2021 @06:07AM (#27568646)
Not a series of insignificant losses that, due to the low win-probability is such a long series, amounts to more money than the lottery win, and thereby cannot be called insignificant anymore, which is by definition how lotteries are set-up.