Re:No, the money you spend on lotteries doesn’t go to the park
by eru on Friday May 05, 2023 @03:18AM
(#35826265)
> Those lotteries generally do have a relatively high likelihood of getting you a spot. Paying $10 for a fifty percent chance of a permit vs. paying $100 in an auction does make a difference.
What makes you think that the auction price would go up to $100?
Assuming they sell raffle tickets to all comers, but they have a limited, fixed number of winners per day that gain entry; then I would assume that world where a $10 ticket give you a 50% chance of entry is a world where the auction clearing price would be roughly $20.
The kind of lottery you describe (where you can enter multiple times) is basically equivalent to an auction. Just more complicated and less predictable.
What makes you think that the auction price would go up to $100?
Assuming they sell raffle tickets to all comers, but they have a limited, fixed number of winners per day that gain entry; then I would assume that world where a $10 ticket give you a 50% chance of entry is a world where the auction clearing price would be roughly $20.
The kind of lottery you describe (where you can enter multiple times) is basically equivalent to an auction. Just more complicated and less predictable.