Chances of Winning the Lottery Twice
As everyone knows the chances of winning the top jackpot in lotteries like Mega Millions and Powerball are astronomical. In fact the chances of winning the top Powerball jackpot are 1 in 292 million and the Mega Millions odds are similar. Despite these long odds people still line up to buy tickets when jackpots are in the hundreds of millions. Author Stephen Goldbart said that in times of economic stress people are driven by fantasies of winning big. Goldbart said “It’s the same question as to why do people gamble.
It’s a desire to improve your life in a way that’s driven by fantasy…. The bigger the fantasy, the tastier it gets.” Goldbart also stated “We may seek a magic pill to make us feel better. Ah yes, buy a lottery ticket. Feel again like you did when you were a child, having hope that a better day will come, that some big thing will happen that will make everything right, set the course on track. “Discussing lottery odds economics and psychology professor George Loewenstein had this to say “People don’t really understand probabilities at all.
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