Re:Mega Millions ticket wins $1.34B lottery jackpot
by josephcsible on Saturday July 30, 2022 @06:12PM
(#32290871)
> The GP comment was talking about the kind of people who don't even own stocks and probably can't afford to buy even a single share, because it would eat into their budget much more than a $2-5 lottery ticket.
People who buy a $5 lottery ticket every day could absolutely afford to buy stocks if they'd stop doing that.
> Also, lottery ticket EV isn't -100%, it's anywhere between -50% and -80%.
Even assuming your optimistic number, it's idiotic to "invest" anything into something with an expected return of -50%.
People who buy a $5 lottery ticket every day could absolutely afford to buy stocks if they'd stop doing that.
> Also, lottery ticket EV isn't -100%, it's anywhere between -50% and -80%.
Even assuming your optimistic number, it's idiotic to "invest" anything into something with an expected return of -50%.